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India has entered into a Social Security Agreement with the Netherlands so that the professionals travelling across the nations will not have much problem.
The deal was inked Overseas Indian Affairs Minister Vayalar Ravi and Dutch Minister of Social Affairs and Employment Piet Hein Donner in New Delhi on Thursday.
"This agreement will strengthen the bilateral relations and it will enhance cooperation on social security between the two countries," said Ravi after signing the agreement.
"This agreement will facilitate the movement of professionals between the two countries," said the minister.
The detached workers sent by Netherlands-based companies to their Indian subsidiaries, or those sent by Indian companies to their branches in the Netherlands will be exempt from social security contribution in the host country for a period of 60 months, said a statement issued by the ministry.
"While working abroad, these employees will only be subject to the social security regulations of their home country," the statement said.
This agreement provides that an employed or self-employed person, other than detached workers shall be subject only to the legislation of the host country. The agreement provides for portability of the benefits at the time of relocation.
"The agreement will come into effect after the fulfilment of the national requirements," the statement added.
There are about 21,000 Indians in the Netherlands and there are over 850 Dutch nationals working in India.
India has signed similar agreements with Belgium, France, Germany, Switzerland and Luxembourg recently
