What is the significance of the social security agreement signed between India and Argentina for professionals
India and Argentina sign social security agreement for professionals
The social security agreement signed between India and Argentina for professionals holds several significance points:
- Improved Social Security Coverage: The agreement ensures that professionals from both countries, who are working temporarily in the other country, remain entitled to benefits related to social security.
- Benefits Portability: The agreement allows professionals to accumulate social security benefits in one country and have them transferred to the other country upon the end of their working period.
- Protection from Dual Contributions: This agreement prevents professionals from being required to contribute to social security schemes in both India and Argentina simultaneously, thus avoiding double taxation in terms of social security.
- Promotion of Cross-Cultural Cooperation: By facilitating the movement of professionals between India and Argentina, the agreement fosters collaboration and knowledge exchange in various fields.
- Enhancement of Economic Ties: The agreement promotes bilateral trade and investments by providing a favorable environment for professionals to relocate and work between the two countries.
- Protection of Rights: The social security agreement guarantees that professionals' rights related to social security, including old-age, disability, survivor, and medical benefits, are safeguarded during their temporary assignments.
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