I had crated a link by using Shortcut keyword. And I found it is the easiest way to resolve this. Please find this code.
<Component Id="XXXX" Guid="E4920A35-13E1-4949-BD3A-7DCC8A70C647">
<File Id="xxXX" Name="xxXX.yyy" Source="..\Installer\Miscellaneous\xxXX.yyy" DiskId="1" Vital="yes" />
<Shortcut Id="xxXX_link" Directory="Dir1" Name="xxXX.yyy" Target="[INSTALLLOCATION]xxXX.yyy" WorkingDirectory="INSTALLLOCATION" />
</Component>
But this is not equivalent to symbolic link.