Dear Sir,
240 days not for annual leave.Factory act says that if an adult complete his 240 days then he is eligible for 20 days leave.After 240 days company management has to decide their policy about leave.
For Your reference below is the Chapter VIII of Factory Act.
Annual leave with wages.
79. Annual leave with wages. (1) Every worker who has worked for
a period of 240 days or more in a factory during a calendar year shall
be allowed during the subsequent calendar year, leave with wages for a
number of days calculated at the rate of--
(i) if an adult, one day for every twenty days of work
performed by him during the previous calendar year;
(ii) if a child, one day for every fifteen days of work
performed by him during the previous calendar year.
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Explanation 1.--For the purpose of this sub-section-
(a) any days of lay off, by agreement or contract or as
permissible under the standing orders;
(b) in the case of a female worker, maternity leave for any
number of days not exceeding twelve weeks; and
(c) the leave earned in the year prior to that in which the
leave is enjoyed;
shall be deemed to be days on which the worker has worked in a factory
for the purpose of computation of the period of 240 days or more, but
he shall not earn leave for these days.
With Regards
Vikas Vyas