Another big news revealed regarding EPFO. If you are also a member then today’s article is just for you. Trade unions demanded a five-fold increase in the minimum pension under the EPFO in the 2025-26 budget, immediate constitution of the 8th Pay Commission and higher taxes on the super-rich. Nirmala Sitharaman will present the budget for the financial year 2025-26 on February 1. In this order, she is holding discussions with representatives of various sectors.
Bharatiya Mazdoor Sangh organising secretary (northern region) Pawan Kumar suggested that the income tax exemption limit should be raised to Rs 10 lakh. In their customary pre-Budget meeting with Finance Minister Nirmala Sitharaman, trade union leaders also demanded raising the income tax exemption limit to Rs 10 lakh per annum, introduction of social security scheme for temporary workers and restoration of old pension scheme (OPS) for government employees.
Sitharaman will present the budget for the financial year 2025-26 on February 1. In this order, she is holding discussions with representatives of various sectors.Trade Union Coordination Centre (TUCC) national general secretary S P Tiwari said after the meeting that the government should stop the move to privatise PSUs and impose an additional 2 per cent tax on the super-rich to raise social security funds for unorganised sector workers. He demanded that the workers working in the agriculture sector should be given social security and their minimum wages should also be fixed.
Bharatiya Mazdoor Sangh organising secretary (northern region) Pawan Kumar said the minimum pension payable under the Employees’ Pension Scheme, 1995 (EPS-95) should be first increased from Rs 1,000 per month to Rs 5,000 per month and then VDA (variable dearness allowance) should also be added to it.
He also suggested that the income tax exemption limit should be raised to Rs 10 lakh. Along with this, he also demanded the government to exempt pension income from tax. Trade unions are calling for a significant five-fold increase in the minimum pension under the EPFO for the 2025-26 budget, the establishment of the 8th Pay Commission without delay, and higher taxes on the wealthiest individuals. Finance Minister Nirmala Sitharaman is set to unveil the budget for the financial year 2025-26 on February 1, and she is currently engaging in discussions with representatives from various sectors.
Pawan Kumar, the organizing secretary of the Bharatiya Mazdoor Sangh for the northern region, proposed raising the income tax exemption limit to Rs 10 lakh. During their traditional pre-Budget meeting with Sitharaman, trade union leaders also advocated for an increase in the income tax exemption limit to Rs 10 lakh annually, the introduction of a social security scheme for temporary workers, and the reinstatement of the old pension scheme (OPS) for government employees.
Sitharaman will present the budget on February 1, and she is actively consulting with various sector representatives. After the meeting, S P Tiwari, the national general secretary of the Trade Union Coordination Centre (TUCC), emphasized that the government should halt the privatization of public sector undertakings (PSUs) and implement an additional 2 percent tax on the super-rich to fund social security for unorganized sector workers. He also highlighted the need for social security for agricultural workers and the establishment of minimum wage standards for them.
Pawan Kumar reiterated that the minimum pension under the Employees’ Pension Scheme, 1995 (EPS-95) should be raised from Rs 1,000 to Rs 5,000 per month, with the addition of a variable dearness allowance (VDA). He further suggested that the government should exempt pension income from taxation.
Kumar emphasized the urgent need to establish the Eighth Pay Commission to update the salary framework for government workers. Swadesh Deb Roy, the national secretary of the Centre of Trade Unions of India (CITU), echoed this call, noting that it has been over a decade since the Seventh Pay Commission was formed in February 2014. Deb Roy raised alarms about the significant drop in permanent staff within public sector central enterprises, highlighting that while there were 2.1 million permanent employees in the 1980s, that figure has dwindled to just over 800,000 in 2023-24.
