Social Security Current Affairs - 2019

Category Wise PDF Compilations available at This Link

Government releases Draft Labour Code on Social Security & Welfare

The Union Labour Ministry has proposed a labour code which will provide social security cover to the entire workforce in the country, including self-employed and agricultural workers.

In this regard, it has proposed a draft code on Social Security and Welfare with an aim to provide social security cover to the entire workforce in the country of about 45 crore workers. 

Features of Draft code
  • It will cover every working person whether he/she belongs to the organised sector or the unorganised sector in the country under it.
  • Thus, for the first time, agricultural workers along with self-employed people will be covered under the social security cover. Even factories employing single worker will have to contribute towards social security benefits.
  • It will cover any factory, mine, shop, plantation, charitable organisations and all establishments or households employing casual, fixed-term, part-time, informal, apprentice, domestic and home-based workers.
  • If such establishments or factories fail to contribute towards the social security schemes of the workers, they will be liable to pay compensation.
  • It even covers households employing domestic help and they will also have contribute towards schemes, including gratuity for the worker and provident fund.
  • It proposes, National Social Security Council (NSSC), chaired by the Prime Minister to streamline and make policy on social security schemes related to all the Ministries.
  • NSSC’s other members will include Union Finance Minister, Labour Minister, Health and Family Welfare Minister along with employer and employees’ representatives.
  • It will co-ordinate between central and State governments, monitor the implementation of social security schemes, regulate funds collected under various social security schemes, among others.

Month: Categories: National

Tags:

India, Germany ratify 2011 Pact on Social Security Investment

India and Germany have ratified a comprehensive Social Security Agreement (SSA) to improve investment flows between the two countries.

The agreement was signed in October 2011 and its instruments of ratification were exchanged in February 2017. It will come into force from May 1, 2017.

Key Facts
  • The SSA establishes the rights and obligations of nationals of both countries and provides for equal treatment and unrestricted payment of pensions even in case of residence in the other contracting state.
  • It also integrate the provisions of the 2008 social insurance pact and is expected to reduce the operational costs of companies on both countries active in either of the countries.
  • Under it, requirements to be entitled to pension can be met by aggregating periods of insurance completed in India and Germany, whereby each country only pays pension for insurance periods covered by its laws.
  • This comprehensive SSA will favorably impact the profitability and competitive position of Indian and German companies with foreign by reducing their cost of doing business abroad. It will also help promote more investment flows between the two countries.
Background

India and Germany had earlier signed an Agreement on Social Insurance in October 2008. It exempted detached workers of the two countries from making social security contributions in either countries as long as they were making such contributions in their respective countries. Later, both countries, negotiated for a wider encompassing SSA including totalisation of benefits and was signed in October 2011. So far, India has signed and operationalised similar agreements with 18 countries, including Australia, Canada, France, South Korea, Belgium and Japan

Month: Categories: National

Tags: