Hi Aarthi,
Suggestions of Kritarth Team merits consideration.
You haven't provided any info about your firm, no.of employees, financial affordability etc. However, my suggestions are -
Before start drafting a policy, keeping in mind the no.of employees on roll who are going to be the beneficiaries,the availability of budget for gifting. You should also discuss the matter with HR, HoDs and take their suggestions also. You are going to find answers to the following issues-
1. Your policy should address whether your gift going to be common for every such beneficiaries or should vary for diff.levels, i.e.top level, middle level & others;
2. The gifts should be in cash or in kind;
3. What if some won't celebrate'
4. Where to be delivered. It's likely that the beneficiaries will be on leave on such event days. This means all or a few only could visit the employees and hand over the gifts; It need not be common that every beneficiary should invite all your staff for the occasion;
5. Probably all of you'll assemble in a hall in your office and conduct small programme with cutting of cake to suit the occasion. What if the celebrations, if any held outside your place of your office, say in a restaurant over a party ;
6. How the gift items are selected & purchased, may be you can have a handful of staff form a team on rotation basis for this purpose;
I think entire gift article or cash is met by your office and therefore, answers to the above aspects will automatically form a your policy.