Thursday, November 15, 2012

PF RELIEF FOR INTERNATIONAL WORKERS

The Ministry of Labour and Employment recently issued a notification amending the Provident Fund
scheme as applicable to 'International Workers': International Worker covered under a social
security agreement entered between India and another country can withdraw contributions from
the Provident Fund on termination of employment with Indian employer. International Worker can withdraw from the Provident Fund either directly or through the employer. The amendment will benefit foreign nationals who have contributed to the Provident Fund in India before the agreement between their home country and India came into force. However, those from countries with which India does not have a social security agreement will still be eligible to withdraw from the Provident
Fund after reaching the age of 58.

0 comments:

Post a comment