India Switzerland Social Security Agreement: All You Need to Know

India and Switzerland have signed a social security agreement that came into effect on September 1, 2019. This agreement aims to provide better social security benefits to Indian and Swiss nationals working in either of these countries. In this article, we will discuss the details of this agreement and its benefits for Indian and Swiss citizens.

What is the India-Switzerland Social Security Agreement?

The India-Switzerland social security agreement is a bilateral agreement signed between the Government of India and the Government of Switzerland. This agreement aims to facilitate social security provisions for Indian and Swiss nationals working in each other`s countries. This agreement will help individuals from both countries to get access to social security benefits such as retirement, disability, and survivor benefits.

What are the benefits of the agreement for Indian citizens?

Indian citizens who are working in Switzerland will now be covered under the Swiss social security system. They will be able to contribute to the Swiss social security system and will also be eligible for social security benefits provided by the Swiss government. This agreement will also help Indian citizens who have worked in Switzerland to claim their pensions after returning to India.

What are the benefits of the agreement for Swiss citizens?

Swiss citizens who are working in India will now be covered under the Indian social security system. They will be able to contribute to the Indian social security system and will also be eligible for social security benefits provided by the Indian government. This agreement will also help Swiss citizens who have worked in India to claim their pensions after returning to Switzerland.

How will the agreement work?

Under this agreement, Indian and Swiss citizens will be exempted from contributing to social security funds in both countries simultaneously. They will only have to contribute to the social security fund in the country where they are working. This will help prevent double taxation and will also ensure that social security benefits are not denied to individuals working in different countries.

Conclusion

The India-Switzerland social security agreement is a significant step towards strengthening the bilateral relationship between India and Switzerland. This agreement will not only benefit Indian and Swiss citizens working in either country, but it will also help promote trade and investment between these two countries. With this agreement in place, the social security benefits of Indian and Swiss citizens working abroad will be safeguarded, and their future will be secure.