By IANS,
New Delhi : Germany and India will sign an accord Wednesday to exempt their nationals working in either country from social security contributions.
The social security agreement will be signed by K. Mohandas, secretary at the ministry of overseas Indian affairs, State Secretary of the German Federal Ministry of Labour and Social Affairs Franz-Josef Lersch-Mense and German ambassador to India Bernd Muetzelburg.
Overseas Indian Affairs Minister Vayalar Ravi will attend the signing ceremony.
According to a statement released by the German embassy, the agreement will protect the interests of all those professionals sent from India-based companies to their German subsidiaries, or those being sent by German companies to India-based branches on short-term contracts of up to 48 months.
“While working abroad, these employees will only be subject to the social security regulations of their home country. Thus, complicated changes and applications for reimbursements will be avoided in the future,” it said.