Introduction to the Social Security System in India
India’s social security system is composed of a number of schemes and programs spread throughout a variety of laws and regulations. Furthermore, the generally accepted concept of the social security system includes not just an insurance payment of premiums into government funds (like in China), but also lump sum employer obligations.
Generally, India’s social security schemes cover the following types of social insurances:
• Pension
• Health Insurance and Medical
• Maternity
• Gratuity
• Disability
In this article, we’ll discuss each of these social insurances, along with their coverage, contribution rates, and the laws and regulations behind them.
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