The United Forum of Bank Unions (UFBU) has demanded that a Bill be moved during the ensuing winter session of Parliament to amend the Gratuity Act and extend the upward revision in ceiling on gratuity to Rs 20 lakh for bank employees also.
Identical letters have been forwarded to the Union Finance Minister and Union Labour Minister in this connection, C.H. Venkatachalam, General Secretary, All India Bank Employees' Association said.
"Bank unions have been demanding enhancement in the ceiling of the quantum of gratuity payable under the gratuity Act to employees and officers in banks," the letter said.
The limit has been enhanced to Rs 20 lakh with effect from January 1, 2016, for government employees and officers. There has since been a genuine aspiration that this should be increased in the case of employees in the banking sector also.
"We learn that the amendment to the Act has been approved by the Cabinet. Since the winter session of Parliament is set to commence soon, we will be grateful if the Bill gets introduced during the session," the letter added.