Your query is incorrect where you have mentioned that "as per the Factory Act, one day for every completed 240 days is to be given." This is not true since Section 79 of the Factories Act, 1948 stipulates that 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 one day for every twenty days of work performed by him during the previous calendar year.
Regarding Casual Leave (CL), you have to consult the Shop & Commercial Establishment Act and Rules of the respective states. Another Act dealing with CL is the National Industrial Establishments (National & Festival Holidays, Casual & Sick Leave) Act, 1965. All states have framed their own rules under this Act; therefore, you have to consult the rules of your state.
I want to clarify the doubt of Sh. Govind Pawar that the entitlement of CL always includes pay and is never without pay. I do not agree with the views of another member that the "Eligibility for CL for any employee is defined/mentioned under the Industrial Employment (Standing Orders) Act/Rules." The model standing order specifies that all workmen shall be entitled to National and festival holidays, casual and sick leave in accordance with the National Industrial Establishments (National & Festival Holidays, Casual & Sick Leave) Act, 1965, or rules made thereunder, or in accordance with any settlement, agreement, or award, which is more beneficial to the workmen. The schedule under the Industrial Employment (Standing Orders) Act does not specify the QUANTUM of leave; instead, it pertains to the conditions of, the procedure in applying for, and the authority that may grant leave and holidays.
Regards,
BS Kalsi