You could have given more information like the nature of your industry, the type of employees you have, and what your designation is.
Social Media and Employee Conduct
Social media is a fait accompli of the day, and we have to stay with it. We cannot prohibit employees from joining social media. Nevertheless, what is disclosed on social media is important. The clause on the disclosure of sensitive information is covered in the Standing Orders Act. It can be extended to social media as well.
Expression of Personal Views
Regarding the expression of personal views, employers cannot control that. Employees may affiliate with a political party; however, while expressing their opinions, they should ensure that they do not invite wrath from some sections of society due to their criticism of caste, creed, religion, nationality, etc.
I recommend that you develop your own policy and upload it here. Some seniors like me will further correct it.
You have written, "I would like you to construct a policy frame to protect the company from getting affected by any of their personal views or comments." Please note that this is a public forum where you should refrain from using language that demonstrates the high-handedness of some MD over his/her juniors.
Thanks,
Dinesh Divekar