Indians working abroad will get their PF back, government has made this plan; talks finalized with Britain
India is trying to get the social security contribution (Provident Fund) back to those Indians working abroad who return home after their job. For this, the Social Security Agreement (SSA) is being included in the Free Trade Agreements (FTAs) with countries like Britain and America.
India is planning a channel to bring professional Indians who migrate following employment in foreign lands without offsetting their social security payment, i.e., Provident Fund amount. As a part of it, consultations are set to make the Social Security Agreement (SSA) a contractual part of the Free Trade Agreement (FTA) that is being negotiated with Commonwealth countries from Britain to America.
In the FTA that has reached the stage of consensus between India and Britain, Britain has agreed to make SSA a part of it. At the same time, efforts are being made to include social security provisions in the interim trade agreement with America. According to Labour Ministry sources, the reason behind India's insistence on making social security a part of the free trade agreement being negotiated with several countries is that the social security contributions of a large number of Indian professionals deducted abroad are not being paid.
Indian professionals are in the highest demand and in numbers throughout the world, from the UK to the US, due to their potential and efficiency. But when they return to India after working abroad for a couple of years, these countries never pay back the quantum of contribution deducted in their Provident Fund, as India is devoid of social security. Once provisions related to social security are integrated in FTA, it will be clear sailing for Indians getting back money stuck in the Provident Fund abroad.
