KIndly ignore the above post. Due to some technical error the complete message did not get posted.Inconvenience is regretted.
IT/ITES companies are covered by SE Act;
You may look into SE Act applicable to your state and speak to officials in SE Inspectorate. You may find latest version of the Act at Dept. of labor website of your state or you may buy from market.
e.g. SE Act Bombay; Sec 35{4}:24[(4) Notwithstanding anything contained in this section, every employee, irrespective of his period of employment, shall be entitled to additional holiday on the 26th January, 25[1st May, 15th August and 2nd October every year. For holiday on these days, he shall be paid wages at a rate equivalent to the daily average of his wages (excluding overtime), which he earns during the month in which such compulsory holidays falls:
Provided that the employer may require any employee to work in the establishment on all or any of these days, subject to the conditions that for such work the employee shall be paid double the amount of the daily average wages and also leave on any other day in lieu of the compulsory holiday.]24
e.g. SE Act Delhi:
8. Employment of adults, hours of work.
(a) Mode for calculation of overtime wages
For any work in excess of nine hours on any day or for more than 48 hours in any week,
overtime wages are to be paid at the rate of double the wages. It is provided therein that where a worker is required to work beyond the normal hours of work or on any day of rest, he shall be entitled to wages at rate of twice his ordinary rate of wages in respect of the overtime work or work done on a day of rest, as the case may be
It is, however clarified that the Delhi Shops & Establishments Act, 1954 is not exhaustive on all the rights and obligations of the employers and the employees as such the provisions of Industrial Disputes Act, 1947 being Central Act governs the matters
e.g. SE Act Haryana:
30
[12. HOLIDAYS.-Every employee in an establishment shall be allowed –
(a) a holiday with wages on the Independence Day, Republic Day and
Mahatma Gandhi's Birthday; and
(b)
31
[five] other holidays with wages in a year in connection with such
festivals as Government may declare from time to time by
notification:
Provided that an employee required to work on any such holiday shall be
paid remuneration at double the rate of his normal wages calculated by
the hour.]