India signs social security agreement with Norway
The ministry of overseas Indian affairs has signed a social security agreement with Norway. The agreement was signed by overseas Indian affairs minister Vayalar Ravi and Norway’s minister of trade and industry Trond Giske in Delhi on Friday.
By Ishani Duttagupta, ET Bureau |
NEW DELHI: The ministry of overseas Indian affairs has signed a social security agreement with Norway. The agreement was signed by overseas Indian affairs minister Vayalar Ravi and Norway’s minister of trade and industry Trond Giske in Delhi on Friday. India already has similar agreements with Belgium, Germany, France, Switzerland, Netherlands, Luxembourg, Hungary, Denmark, Czech Republic and South Korea. “There are many Norwegian companies that are setting up operations in India and Indian companies in the IT and oil and gas sector that are looking at investing in Norway. The need for movement of people between the two countries is growing and the SSA will help in such movement.
We are also looking at a separate human resources mobility partnership between the two countries which will benefit skilled workers and students and help in providing a skills match between India and Norway,” Mr Ravi said after the signing of the deal. Currently, there are about 13,000 Indians in Norway and only 140 Norwegians in India. The SSA will facilitate the movement of professionals between the two countries. Detached workers sent by Norwegian companies to their Indian subsidiaries and those sent by Indian companies to their branches in Norway will now be exempt from social security contribution in the host country for a period of 60 months.
While working abroad these workers will be subject to the social security regulations of their home country. The agreement also provides that a self-employed or employed person, other than detached workers shall be subject only to the legislation of the host country. The agreement also provides for portability of benefits at the time of relocation. “There are companies on both sides looking at tapping opportunities in India and Norway.
This agreement will benefit these companies and the people who are relocating. Norwegian companies are looking at the huge pool of skilled workers in India and we already have a large number working in our maritime industry and the ICT sector. We are looking at tapping the knowledge base in India in a big way,” minister Giske said.
We are also looking at a separate human resources mobility partnership between the two countries which will benefit skilled workers and students and help in providing a skills match between India and Norway,” Mr Ravi said after the signing of the deal. Currently, there are about 13,000 Indians in Norway and only 140 Norwegians in India. The SSA will facilitate the movement of professionals between the two countries. Detached workers sent by Norwegian companies to their Indian subsidiaries and those sent by Indian companies to their branches in Norway will now be exempt from social security contribution in the host country for a period of 60 months.
While working abroad these workers will be subject to the social security regulations of their home country. The agreement also provides that a self-employed or employed person, other than detached workers shall be subject only to the legislation of the host country. The agreement also provides for portability of benefits at the time of relocation. “There are companies on both sides looking at tapping opportunities in India and Norway.
This agreement will benefit these companies and the people who are relocating. Norwegian companies are looking at the huge pool of skilled workers in India and we already have a large number working in our maritime industry and the ICT sector. We are looking at tapping the knowledge base in India in a big way,” minister Giske said.
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