You can take the Maternity Benefits Act as the base for your policy. Then you can make some changes according to your company norms. Please remember that the policy should be more favorable to your female employees. No way should it be less favorable.
Eligibility and Application
For example, the Act applies to commercial establishments employing ten persons. If your establishment has fewer than ten employees, you can still implement the policy for your establishment. Similarly, under the Act, there is a provision regarding eligibility for maternity leave, which states that every woman employee who has worked for 80 days in the 12 months preceding the date or expected date of delivery shall be eligible for leave. This can be reduced to 79 or fewer days but not increased to 81 or more days under your policy.
Leave Duration and Conditions
Similarly, under the Act, there is a provision that women employees are to be given leave with wages for 26 weeks, and you cannot make it less than 26 weeks, but of course, you can extend it beyond 26 weeks. Also, there is a provision of leave for 12 weeks in the case of commissioning mothers and women adopting a child. You should not reduce or change this under your policy.
Medical Bonus and Additional Provisions
There is a provision for the payment of Rs 3500 as a medical bonus. You can increase it, but you cannot decrease it. Moreover, you should be able to extend the maternity leave until the expiry of 26 weeks for an employee whose period of employment as per the fixed-term contract expired in between. Also, when the Act states that if the woman dies after delivery leaving behind the child, then the dependents should be paid a salary for the period of maternity leave.
In short, in HR, there are many such policies that are regulated by specific laws. Even if you do not have a separate policy, the Act will bind you. So, what is the meaning of framing a policy? It will only make HR "busy".....!!