PSU - C.R.E

HI,

I am working in leading PSU bank as CRE - officer on contract from last >3 years. I already got two renewals as CRE from management side. I, by way of request form, claimed for permanent absorption in the system but the result is, unclear future promises.

now i would like to know what can be done in the same? is there any labour laws are there which may brings smile on my face?

Thanks