Law versus policy

Obviously the law madam, since company policy is framed on the guidelines of law. 

The employer can always provide superior benefits as prescribed in enactments applicable to employer/establishment................but not inferior benefits.............

The employer can allow its employees vide standing orders, service conditions narrated in appointment order/service rules and regulations/HR policy/Employee handbook or even extent approval granted on application/request by employee...................and in such case there is no ambiguity...

The enactments applicable to the establishment  may differ depending upon what is the establishment e.g. Govt/private........................Industrial/Commercial.........

thus Factory Act 1948, (Name of the state) Shops and Commercial Establishments Act may be looked into.....................

Factory Act 1948:

https://pblabour.gov.in/pdf/acts_rules/factories_act_1948.pdf

60. Restriction on double employment. No adult worker shall be required or allowed to work in any factory on any day on which he has already been working in any other factory, save in such circumstances as may be prescribed.

99.: Penalty for permitting double employment of child: ………..another factory, the parent or guardian of the child or the person having custody of or control over him or obtaining any direct benefit  

 (Name of the state) Shops and Commercial Establishments Act was enacted to govern the service conditions of the employee working in such establishments......... 

Delhi Shops and Establishments Act, 1954

https://www.lawzonline.com/bareacts/delhi-shops-and-establishments-act/Section9-delhi-shops-and-establishments-act.html

Once the approval by employer is granted..............the employee can work on two or more establishments.....