The Modi government may reportedly consider acting on appeals by private sector employees covered under the Employees’ Provident Fund Organisation (EPFO) for an increase in the minimum pension, which is currently fixed at Rs 1,000 per month. For this, a delegation of EPS-95 pensioners met Finance Minister Nirmala Sitharaman on January 10, 2025 as part of the pre-budget consultation meeting, reports Financial Express.

Minimum monthly pension should be Rs 7,500

Their request was for a minimum monthly pension of Rs 7,500, an increase in dearness allowance (DA) and free medical treatment for both pensioners and their spouses. Nirmala Sitharaman assured the EPS-95 National Movement Committee that their demands would be reviewed.

The report said trade unions also met the finance minister during the session but advocated for increasing the pension to Rs 5,000 per month. This attracted criticism from the EPS-95 National Movement Committee, which considered the amount inadequate, unfair and not enough to meet the basic needs of pensioners.

More than 36.60 lakh pensioners do not get minimum monthly pension

The report quoted EPFO ​​as claiming that despite the government’s announcement of fixing the minimum monthly pension at Rs 1,000 in 2014, over 36.60 lakh pensioners still get less than this amount.

How much of PF goes into Employee Pension Scheme

EPF members contribute 12% of their basic salary to the provident fund, while the employer contributes an equal amount. The employer’s contribution itself is divided into two parts, with 8.33% allocated to the Employees’ Pension Scheme (EPS), while 3.67% goes towards the EPF scheme.

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The post Budget expectation: Pension of private sector employees can be at least ₹ 7,500 first appeared on Rightsofemployees.com.

The Railway Budget is expected to provide funds for the expansion of the metro network, Namo Bharat Corridor, Vande Bharat trains, high speed corridors and economic corridors.

The railway budget will be announced during the budget to be presented on 23 July. Let us tell you that before the year 2017, the budget was presented twice in the country – one railway budget and the other general budget. In the year 2016, the Modi government merged the railway budget with the general budget and with this a system that was going on for 94 years came to an end.

Also Read: LIC Great Scheme: You can earn 25 lakh rupees by investing 45 rupees daily

Will the railway fare increase or decrease?

In February this year, the railways had brought the ticket prices to the pre-Covid level. In such a situation, there is no hope of reducing the prices in the budget.

Finance Minister may announce new bullet train project

An announcement regarding new bullet train corridor is expected in the budget. The budget is expected to provide funds for expansion of metro network, Namo Bharat Corridor, Vande Bharat trains, high speed corridor and economic corridor.

Senior citizens expected to get concession in fares

The issue of railway fares for senior citizens was also in the news during the recent Lok Sabha elections. The demand for giving concession in fares to senior citizens has started increasing. It is expected that senior citizens may get relief in the matter of railway fares in the budget.

The post Budget Expectation: Finance Minister can make this announcement for railway passengers first appeared on Rightsofemployees.com.