EPFO Coverage For Indians Working Abroad Too: CPFC

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Indians working abroad can now exempt themselves from their host country's social security scheme and get covered by retirement fund body EPFO, Central Provident Fund Commissioner (CPFC) V P Joy said today.

    An online facility to avail the benefit has been made functional, he said at a national seminar on 'Fraud Risk Management-The New Initiatives' here. The scheme allows Indian employees the option of not being part of their host country's social security scheme and saves employers from double social security contributions. EPFO Members Can Apply For CoC Online On Foreign Postings

    EPFO Coverage For Indians Working Abroad Too: CPFC

    The Employees' Provident Fund Organisation, which manages the money in employees provident fund accounts, has entered into an agreement with 18 countries. "We have made the whole process employee friendly. Employees going abroad to work can get a certificate of coverage (CoC). They can apply for the CoC online and can get it too," he told PTI.

    Joy said there is a simple one-page application form available on the EPFO's website for the purpose. "The scheme is of great help for Indian workers going overseas for a limited period of time. The biggest benefit they get from opting for the CoC is that their money is not blocked for a long time in the host country," he said, explaining the benefits of the scheme.

    India has operational social security agreements with Belgium, Germany, Switzerland, France, Denmark, Republic of Korea, Grand Duchy of Luxembourg, Netherlands, Hungary, Finland, Sweden, Czech Republic, Norway, Austria, Canada, Australia, Japan, and Portugal. EPFO is one of the largest social security providers in the world, covering 9.26 lakh establishments with more than 4.5 crore members. It provides pension to 60.32 lakh pensioners every month. Increasing EPF Contribution: Things To Know


    Read more about: epfo
    Story first published: Friday, November 3, 2017, 14:25 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more