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Let's know some historical aspects relating to payment of Gratuity and LCS in coal industry

Prior to NCWA-III, the amount of gratuity and LCS(Life Cover Scheme) used to be paid jointly to the beneficiaries. From NCWA-III onwards, the above payment was made to be paid separately with the ceiling of gratuity as Rs.36,000/- and LCS as Rs.15,000/-. With commensurate increase in the amount in later agreements, the ceiling of gratuity was enhanced from Rs.1 lakh to 2.5 lakh with effect from 24th September, 1997 and from 2.5 lakh to 3.5 lakh with effect from 24th September, 1999. Later on, with effect from 01-01-2007, as we all know, the maximum amount payable under the gratuity scheme enhanced to Rs.10 lakh. 

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