The Social Security Agreement between India and the United States is an agreement that aims to assist individuals who have worked in both countries and helps to avoid double taxation on social security contributions. It was signed on March 4, 1997, by the Indian Minister of Labor and the United States Ambassador in New Delhi.
The primary objective of this agreement is to provide social security benefits to eligible individuals who have worked in both India and the United States. It ensures that workers who have contributed to social security in both countries are entitled to receive benefits from both countries.
The Social Security Agreement also promotes the exchange of information between the social security administrations of both nations. This helps to establish and maintain records of individuals who are eligible for social security benefits, including retirement, disability, and survivors’ benefits.
Under this agreement, workers who have contributed to social security in both countries are entitled to receive benefits from both countries based on their total years of contribution to each country`s social security program. For example, if an individual has contributed to social security for 10 years in India and 10 years in the United States, they may be eligible to receive benefits from both countries based on their total years of contribution.
The agreement also eliminates the requirement for individuals who have worked in both countries to make additional social security contributions in the other country. This helps to avoid double taxation on social security contributions and ensures that individuals are not unfairly penalized for working in both countries.
Since its implementation, the Social Security Agreement between India and the United States has helped to provide social security benefits to thousands of individuals who have worked in both countries. It has also strengthened the relationship between both nations by promoting cooperation and mutual benefits.
In conclusion, the Social Security Agreement between India and the United States is an important agreement that helps to ensure that individuals who have contributed to social security in both countries receive the benefits they deserve. As the world continues to become more globalized, such agreements are crucial to ensuring fairness and cooperation between nations.
