Tokyo, May 30 (IANS) India and Japan have sealed a social security pact that will ease the economic burden on their nationals working in each other’s country.
Japan’s Ministry of Foreign Affairs Wednesday announced that the pact has been concluded during the fourth round of negotiations between the two sides in Tokyo.
The pact will exempt employees sent from Japan to India and those from India to Japan from making any social security contribution in the country of employment, provided they continue to make these payments in the country of their origin.
The conclusion of the agreement is expected to reduce the burden imposed on the employees and corporations, and promote human and economic exchanges.
Both sides will continue necessary work for an early signature of the agreement, the ministry said.
When Japanese Foreign Minister Koichiro Gemba visited India April-end, the two sides had decided to accelerate the conclusion of this crucial pact.