Dear Sushant,
Your employee subgroup grouping or / and personnel subarea grouping is not correct.
Please check following tables in SM30.
V_503_ALL: Find your employe group and check what is set in column WSchedule.
V_001P_ALL: For your country please find your personnel area and check what is set in WSchedule column.
Then go into V_T508A and make sure first column(employee subgroup grouping) is same as V_503_ALL and 5th column(personnel subarea grouping) is the same as V_001P_ALL.
Regards,
Omid