New Delhi: Trade Unions on Monday called for the increase of the minimum threshold of EPFO pension from 5, 000 to 5, 000 to be five times higher, an instant commission of an 8th Pay Commission, and higher forecasted taxes on the rich in the next Nirmala Sitharaman led Indian budget for 2025/26.

While Raminder Parmar, who attended the meeting with Sitharaman on behalf of the Akhil Bharatiya Trade Union Congress, explained that the tax had remained untouched, there was a stark need for greater exclusion thresholds for taxation. TUSC S P Tiwari called for aiding the informal sector with social security initiatives, and said a greater exclusion limit of Rs 10 LpA a year for taxes would allow for this, as well as restoring the Old Pension Scheme for government officers. Nirmala Sitharaman will present the Indian budget 2025/26 which she will be preparing from June.

Tiwari claimed, during a press conference held after the end of the aforementioned meeting, that informal workers required greater social and financial security. He called for the imposition of an extra exemption limit of Rs 2 Lakh a year specifically for the super rich, and stopping all corporatisation and privatization for the public sector.

In a preliminary move, he said the Indian Mazdoor Sangh’s Northern Zone’s organizing secretary, Pawan Kumar, supported raising the monthly pension for EPS-95 from Rs 1,000 to Rs 5,000, claiming that progressively, it should be correlated to the VDA (Variable Dearness Allowance) expect more correlation to EPS-95.”

Bring 8th Pay Commission & Tax Modifications

Kumar also proposed that the Income Tax exemption limit be increased to 10 lakhs. Furthermore, he argued that pension income should not be taxable. Also, there is an urgent need for the establishment of the 8th Pay Commission, which should be done to the government employees’ salary structure.

Additionally, CITU National Secretary Swadesh Dev Roye slammed the Modi’s government for disregarding the recommendations made following the last 7th Pay Commission’s establishment over ten years ago, he further stated a complete disregard to setting up a new commission.

Further, Dev Roye troubled over the widespread permanent employee furlough during the 1980s which saw CPSEs operating from 21 lakh and since then dropped to 8 lakh in 2023-24.

Meanwhile, Deepak Jaiswal the NFITU’s National President, stated there is a need to allocate a separate fund for the Employees Provident Fund (EPF) and Employees State Insurance Corporation (ESIC) so as to guarantee social security for those in the unorganised group.