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India signed a pact with Australia with an aim to avoid double social security contribution. A new social security agreement signed between India and Australia has come into operation in which the employees of India deputed to Australia and vice versa will not have to make double social security contribution. EPFO has been provided the authority to issue certificate of coverage to employees of Indian companies deputed in Australia. 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.
Some important features of this India Australia PACT
1. Australia has become the 14th country with which India has a social security agreement in force.
2. EPFO in its order has stated that the agreement provides for detachment, totalisation and portability.
3. The others in the list include Korea, Finland, Sweden, Czech Republic, Hungry, Germany, France, Belgium, Netherlands, Luxembourg, Denmark, Norway and Switzerland.
4. It is implemented by Employee Provident Fund Organisation and it will come into effect fromJanuary,2016.
5. The employers who have already deputed or intend to depute their employees to Australia can avail themselves of this facility.
Points to note about India Australia PACT
- EPFO Chairman– Shri. Bandaru Dattatreya
- Australia Capital-Canberra
- Australian President-Malcolm Turnbull
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