Social Security Agreement Upsc
The Trade Promotion Council for India (TPCI) proposed Tuesday that India and the United States sign a totalization agreement because it will provide social security to Indian professionals in America. The signed agreement is hosted on the ministry`s website and on the website of the Worker`s Provident Organization for stakeholder information, so that they can obtain coverage certificates in order to avoid double social security contributions. “Once signed, the agreement would benefit workers in both countries and ensure equal treatment,” Singla said in a statement. Indian factories pay taxes on their income in the United States. Either they can receive all social security benefits after eight years, or their work visas are extended beyond 10 years so they are not affected and receive all benefits on an equal footing with U.S. citizens, he added. TPCI President Mohit Singla said the totalisation agreement is an international pact for social security that eliminates the double taxation of social security, both in the country of origin and in the country where a worker works. He said the agreement should be part of the trade agreement negotiated by India and the United States. India and Brazil began diplomatic relations between India and Brazil in 1948. The long bilateral strategic partnership is based on a common global vision, common democratic values and a commitment to promote economic growth and social inclusion for the benefit of the citizens of both countries. The idea of concluding pacts on social security programmes with the BRICS was discussed at the bricS labour ministers` meetings in Geneva on 9 June 2016 and 27-28 September 2016 in New Delhi. The possibility of concluding social security agreements between the BRICS countries is also mentioned in the Goa declaration of the 8th BRICS Summit of Heads of State and Government. India and Brazil negotiated the SSA in Brasilia from 13 to 16 March 2017.
At the end of the negotiations, the two sides signed the final text of the social security agreement. This is a long-term request from India for a speedy conclusion of the totalization agreement or the social security agreement with the United States. It aims to protect the interests of professionals of Indian descent, who contribute more than $1 billion annually to U.S. Social Security. Under the pact, professionals in both countries would be exempt from social security contributions if they went to work in the other country for a short period of time. The agreement also provides disability insurance benefits for Indian nationals working abroad. Currently, about 1,000 Brazilians live in India, while about 4,700 Indians live in Brazil.