Sweden and India have entered into a social security agreement that aims to provide better social security coverage and benefits to workers from both countries. The agreement is expected to benefit thousands of professionals and businesses operating in Sweden and India.
The social security agreement between Sweden and India was signed on November 27, 2020, and it covers a broad range of social security benefits, such as old age pension, survivor`s pension, disability pension, and health and medical care benefits. The agreement will also allow for the transfer of social security contributions made by workers from one country to another, thus avoiding double taxation.
The agreement will benefit Swedish and Indian workers who are either temporarily or permanently employed in the other country. It will also benefit self-employed individuals who are engaged in business activities in both countries. The agreement will help prevent disruptions to the social security coverage of workers when they move between countries, ensuring that they are protected by the social security system of either country.
Swedish and Indian workers who are covered by the social security agreement will be able to access social security benefits on the same terms as the citizens of the country in which they are working. They will also be able to count the periods of insurance or employment in both countries when determining eligibility for social security benefits.
The agreement is expected to have a positive impact on the economies of both countries. It will encourage more businesses to expand their operations into the other country, knowing that their employees will have access to social security benefits. This will also lead to increased trade and investment between Sweden and India.
In conclusion, the social security agreement between Sweden and India is a significant step forward in improving the social security coverage and benefits for workers from both countries. It will provide greater protection to workers who move between countries and will help to promote trade and investment. Employers and employees who are interested in taking advantage of the agreement should seek the advice of a qualified professional.