EPFO decides to Cover Indians who Work Abroad
An online facility had come into existence for Indians who work abroad, to avail benefits in the EPFO as stated by VP Joy, the Central Provident Fund Commissioner. He was speaking at the national seminar on Fraud Risk Management some New Initiatives.
There is single Page Application Form at the website of EPFO for this activity. Now the Indians working abroad will not be liable to the social security scheme of their host country. They can avail the cover granted by the EPFO.
It permits the Indian employees, to have the option not to participate in the social security schemes, of their host country, and save employers, from twofold contributions in social security.
The Employees’ Provident Fund Organisation, manages the financial contributions kept in the Employees Provident Fund Accounts. EPFO has signed an agreement, to this effect, with 18 nations, across the globe.
The entire process is user-friendly. Employees who intend to go abroad for working can obtain a Certificate of Coverage. They can submit an application for this Certificate online and obtain it.
This scheme designed to help Indian workers who intend to go out of the country for a limited time. The benefit is that they can opt for the Certificate of Coverage and their wealth is left unblocked for long intervals in a host country.
The social security agreements to operate, have signed with Australia, Austria, Portugal, Canada, Belgium, Switzerland, Czech Republic, France, Finland, Hungary, Denmark, Netherlands, Korea, Luxembourg, Sweden, Norway, Japan and Germany.
EPFO is a large social security provider among the nations, which covers 9.26 lakh organizations and members exceeding 4.5 crores. It works to provide pension, to as many as 60.32 lakh persons every month.