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checked· National Pension Service (Korea)Social securityOfficial

Korea–India Social Security Agreement

Summary

Staff seconded by a Korean company for up to 5 years are exempt from Indian PF once the National Pension certificate of coverage is submitted to EPFO. It can be extended if both countries agree.

Key points
  • The Korean company applies to the National Pension Service
  • Retroactive exemption may have time limits
What it means for Korean companiesApply at the same time as the secondment order.

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· ShifteePayOfficial

The 50% wage rule

Wages are basic pay, DA and retaining allowance. If the 11 excluded items, such as HRA, overtime and commission, add up to more than 50% of total pay, the excess is added back to wages.

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Korea–India Social Security Agreement · Adullam HR & Legal