In line with the notification issued by the Indian goverment with effect from 1 October, in which the Employees’ Provident Funds (Third Amendment) Scheme, 2008, and the Employees’ Pension (Third Amendment) Scheme, 2008, were introduced, international workers (as defined therein) are required to contribute 24% of their salaries to one of the social security schemes managed by the Indian Employees Provident Fund Organization (EPFO).
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The legislative and regulatory update is compiled by Nishith Desai Associates, a Mumbai-based law firm. The authors can be contacted at nishith@nishithdesai.com. Readers should not act on the basis of this information without seeking professional legal advice.
