India, Australia Ink Pact To Avoid Double Social Security Contribution

India and Australia ink pact to avoid double social security contribution Under this agreement, employees of India deputed to Australia and vice versa will not have to make double social security contribution. Under this agreement Australia has become the 14th country with which India has a social security agreement in force. 

The others in the list include Korea, Finland, Sweden, Czech Republic, Hungry, Germany, France, Belgium, Netherlands, Luxembourg, Denmark, Norway and Switzerland. India signed loan agreement of 35 Million dollars with the world bank for Madhya Pradesh citizen access to responsive services project. The objective of the project is to improve access and quality of public services in the state.

Extra info:
  • As per the order, the employees of one country deputed by their employers to the other country on short-term assignment for a pre-determined period of up to 60 months need not remit social security contribution in that country. 
  • The employers who have already deputed or intend to depute their employees to Australia can avail themselves of this facility. 
  • Australia officially known as the Commonwealth of Australia, is an Oceanian country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. It is the world’s sixth-largest country by total area.
  • Australia Capital is Canberra.
  • Australian currency dollar.

So lets do:
  • Which country inked pact with India to avoid social security contribution?
  • Who is the Prime minister of Australia?

Source – The Hindu


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