In my perspective, International companies, because of their global presence and strict labor laws adhere to the Labour Laws of the local government, both in its parent country and the country of its presence, as a branch/subsidiary. Few of the Indian companies with global presence, too have similar processes, but often gets diluted when there is no proper execution.(Benchmarking: Many small companies seem to follow/get inspired by these global leaders in their HR policies ;) ).
Indian companies, when acting as a subsidiary, will normally gets notification on many things to match their HR standards. The HR Policies again may have to match their established standards, while actual Indian companies may have to be on their own.
This discussion can be made interesting, if others put in their opinions.