Luxembourg: In 2020, Bengaluru-based couple Prateek Gupta and Neha Maheshwari made the decision to move to Luxembourg, opting for a better quality of life over the higher salaries they could have earned in the US or Dubai. In an interview with Live Mint, the couple shared their reasons for the move and how their life has changed since relocating to Europe.
Neha, who works in finance at a German real estate company, and Prateek, a senior analyst at Amazon, admitted that while staying in India or moving to countries like the US or Dubai would have provided them with greater financial opportunities, the lifestyle in Europe was more appealing. "Continuing in India or moving to the US would have given us more career and earning opportunities. But we wanted to experience the superior quality of life that Europe offers," Prateek explained.
One of the key factors behind their decision was the balance between income and the services available in Luxembourg. While the couple pays around 28% of their income in taxes, slightly lower than in India, they feel that the services they receive, including healthcare and social security, make it worthwhile. "We contribute 3% of our income to government-sponsored health insurance, which covers most medical needs, except dental treatment," Neha shared.
Another aspect of Luxembourg's tax system that appeals to the couple is the 2% unemployment fund contribution. "If someone loses their job, the government pays 80% of their last drawn salary for up to two years, or until they find new employment," Neha explained. This security, along with healthcare coverage, means they don’t need a separate emergency fund.
The couple also spoke about the affordability of luxury cars and travel in Europe. They purchased a Mercedes A-class for €43,000, which is far more affordable than in India, where a similar car would cost ₹55 lakh. "I wouldn’t easily buy a luxury car priced over ₹50 lakh in India, but in Luxembourg, it’s within my means due to my income in euros," Prateek noted.
Additionally, they find traveling around Europe to be more budget-friendly. Since they earn and spend in the same currency, they can enjoy holidays across Europe without worrying about exchange rates. "The proximity between countries also makes travel cheaper, as we can simply drive around," Prateek said.
Though the couple acknowledges that they could have earned more in other countries or stayed in India for bigger pay increments, the overall quality of life in Luxembourg has proven to be the deciding factor.
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New Delhi (PTI): Congress chief Mallikarjun Kharge on Wednesday expressed disagreement with Larsen & Toubro Chairman S N Subrahmanyan's suggestion of a 90-hour work week and recalled that former prime minister Jawaharlal Nehru and BR Ambedkar had advocated that workers should not be made to work for more than eight hours in a day.
Addressing party leaders after the inauguration of the Congress' new headquarters located at 9A, Kotla Road here, Kharge lauded the work done by L&T Construction in constructing the new party headquarters.
"I would like to thank L&T construction...some dues are also left from our side," Kharge said to peals of laughter.
"I would like to thank L&T construction, architects, labourers involved in the construction. While I thank the company, but the company's CEO has made a remark of working 90 hours in a week. I don't agree with that," the Congress chief said.
A labourer works for eight hours and gets tired and that is why Nehru and Ambedkar had stated while making factory act that workers should not be made to do more than eight hours of work.
"After that someone said nine hours, but he (L&T chief) is now talking of 12 hours, 14 hours, he should leave that (view), but I thank the company because they have done a very good job. I would also like to thank the labourers for their hard work," Kharge said.
The Congress president also thanked Priyanka Gandhi Vadra for overseeing the work of construction and completion at the party's new headquarters.
Subrahmanyan had sparked an online outrage with his comments advocating a 90-hour work week and suggesting that employees should even give up Sundays.
"How long can you stare at your wife," he is heard saying in a purported video address to employees where he urged them to spend less time at home and more in the office.
His remarks reignited the work-life balance debate, first triggered by Infosys Co-Founder Narayana Murthy's suggestion of a 70-hour work week.
"I regret I am not able to make you work on Sundays. If I can make you work on Sundays, I will be more happy because I work on Sundays," Subrahmanyan is heard saying in an undated video circulating on social media.
"What do you do sitting at home? How long can you stare at your wife? How long can the wives stare at their husbands? Come on, get to the office and start working," he further said.