India, Japan reach agreement on social security contributions
India and Japan have reached an agreement to streamline social security contributions aiming to further promote human and economic exchanges between the two countries.
The governments of Japan and India have reached a substantial agreement on social security, as a result of its Fourth Round of inter-governmental negotiations which was been held from 28 May in Tokyo, a Japanese Embassy statement said here.
As per the present agreement, Japanese and Indian employees are required pay the social security contribution in both the countries, imposing a huge economic burden on individuals and their corporations.
“It is expected that after its conclusion, the agreement will solve these problems through reducing the burden imposed on the employees and corporations, and further promote human and economic exchanges between the two countries,” the statement said.