No, that is not possible. If you are to follow the laws of the land, then you should follow them. Of course, there are companies that seldom pay anything but just ask the employee to leave the company with a promise that after six months of delivery, she can contact them, and if any vacancy exists, she will be considered. These companies also declare that they are employee-friendly organizations! However, that should not be the way in which a company operates. There is no need to give anything extra but provide everything that is their right.
A member of senior management must be receiving a higher salary, but her contributions towards the goals of the company would also be higher, and that is why she is paid. No establishment will pay just for show. Moreover, a managerial person will always have an extended working time. All these factors should be considered when she is going on leave. That means there should not be any difference in treatment while she is working and while she is unable to work due to physical incapabilities.
Regards,
Madhu.T.K