New PF System: Good news! Pension and gratuity money of Indians working abroad will now be deposited in PF

Earlier, in those countries with which India did not have any agreement, a fixed amount was deducted every month from the salary of the employees in the name of social security. The employees did not get any special benefit from this money.

New PF System: If you work in an Indian company and the company sends you abroad for work for three years or less, then there is good news for you. From now on, your social security money will be deposited in your PF account in India itself. Companies will no longer have to pay this social security money abroad. According to Live Hindustan’s news, this will be possible because the Indian government is making special agreements with other countries. The government has so far made this agreement with 22 countries and Indian employees working in these countries have started getting its benefits.

India is preparing for an agreement with countries

According to the news, an agreement has been reached between India and Britain on such an agreement. Actually, this issue is part of the free trade deal between India and Britain. The same issue has been raised in the trade agreement with America as well. Apart from this, the Government of India is preparing for an agreement with all those countries where Indian employees have gone to work or are going to go. According to the news, Labor Minister Mansukh Mandaviya said that whenever India does a business deal with any country, social security is also being included in it.

What was the system earlier

According to the news, before today, in the countries with which India did not have any agreement, a fixed amount was deducted every month in the name of pension-gratuity from the salary of those Indian employees. Employees did not get any special benefit from this money. Not only this, when the employees returned to India, they did not even get the money deducted from their salary. But now this will not happen. Now the money will be deposited in India only and its full benefit will be available.

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