Need guidance on extra working hours compensation in it firm mumbai based

Dear Sir,

Generally, every IT person works more that 2 hours. One of my friend asked me seriously that, "is there any law or act for those who work day more than 2 hours extra?". 

I had no words, but still I feel I must get guidance from you all. This will help my friends who are asking for rights....

There is no ploicy in complany for extra work compensation... what to do in future to get it or guide to work in the manner...

any mails to be sent to company?