Understanding Leave and Holiday Policies
"Leave" is a statutory benefit available to individual employees, allowing them to be temporarily away from their work with prior sanction or post-approval from the employer. "Holiday" is a similar benefit that requires no permission from the employer, as it is either prefixed according to the law applicable to the establishment or declared by the employer on certain occasions throughout the year for the entire establishment or all employees, except for a few depending on the nature of operations.
Therefore, it is the location of the establishment or the place of employment that determines the types and quantum of statutory leave and holidays, as per the provisions of the law applicable to that particular locale. If yours is a European MNC or an Indian company working from India for foreign clients/customers, you can only add the foreign holidays to the existing statutory holidays but not in lieu of them.