• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Vinson Kurian

The Finnish Government has made known its decision not to forfeit statutory social insurance contributions made by Indian IT professionals when they leave Finland.

Thiruvananthapuram , Aug. 11

THE German Federal Cabinet has announced the extension of the "Green Card Initiative" for foreign IT specialists till December 31, 2004.

The scheme, introduced in 2000, was originally intended to last for a three-year period ended July this year.

Disclosing this to Business Line, sources in the National Association of Software and Service Companies (Nasscom) said the scheme was envisaged under the "IT Specialists Temporary Relief Program" and aimed to meet the growing demand for highly qualified personnel by the information and communications industry in Germany.

Adding further relief to the industry is the announcement of the removal of the ceiling of 20,000 work permits fixed earlier, which will now help Indian companies expand IT operations in Germany with much more ease and comfort, Nasscom sources said.

The green card scheme has immensely facilitated the movement of Indian IT professionals and its extension till December 2004 will further the Indo-German trade in the information and communication technology sector, according to Nasscom.

In another development, the Finnish Government has made known its decision not to forfeit statutory social insurance contributions made by Indian IT professionals when they leave Finland.

Nasscom sources said one of the key deterrents to the country's competitiveness is the payment of social security contribution by its IT professionals both in the country and in the host country where they are on short business trips to facilitate assigned IT projects.

The contribution in the host country is most of the time forfeited as their stay is for a short period only.

Nasscom has been in the process of discussing with various governments the issue of dual social security being faced by Indian professionals. Finland's decision is a positive outcome of these efforts.

Article E-Mail :: Comment :: Syndication

Stories in this Section
McKesson in talks with Kshema Technologies

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line