MOIA SIGNS BILATERAL SOCIAL SECUTIRY AGREEMENT WITH SWITZERLAND

The agreement would help over 11,000 Indians in Switzerland

Sep 17, 2009

The Ministry of Overseas Indian Affairs (MOIA) has signed a bilateral social security (SSA) agreement with the government of Switzerland which will benefit workers in each other’s country. The agreement would help over 11,000 Indians in Switzerland and over 800 Swiss nationals working in India. The SSA was signed by Mr. K Mohandas, secretary, MOIA, and Philippe Welti, ambassador of Switzerland in India. Similar agreements have been signed with Belgium, Germany and France.

The agreement will eliminate double taxation for Indian professionals working in Switzerland who had to pay for social security. In some cases, the agreement will provide portability of benefits whereby the professionals can avail themselves of social security benefits, such as pension, even after they return to India. The agreement would help reduce HR costs for Indian companies with operations in Switzerland and Swiss companies with operations in India.

India is also holding talks with the US for a similar social security pact.

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