Hi Monika joshi,
There won't be any sacking and firing policy. If it is a Factory then your certified standing orders / Model standing orders. As per the terms and conditions of your appointment letter
The sacking and Hiring shall be on two counts - indicipline & non performance
Indicipline - on indiscipline part you have to issue charge sheet organize enquiry and if proved then you can terminate / punish
Non - performance: Give the targets / monitor / communicate / issue performance improvement plan / evaluate on monthly basis / evaluate and still not meeting the expectations / ask for resignation / if not ready / terminate.
on all the terminations / sacking / firing you should be very careful - most of the times when employee approaches labour department or proceeds legally it back fires and you need to reinstate him with back wages which shall be a suicidal effect to the organization.
Regards - kamesh