Define social security. Briefly discuss the important social security legislations in India.
Social security refers to a system designed to provide financial protection and assistance to individuals in the event of various contingencies such as old age, illness, disability, unemployment, or death. The aim is to ensure a basic level of economic security for citizens, especially the vulnerable sections of society. It typically includes provisions for medical care, pensions, unemployment benefits, and other forms of welfare support. Social security systems are essential for promoting social stability and protecting individuals from the economic consequences of unforeseen events.
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