Absolutely yes.Though you might not get deep insights into (HR,mktng,finc etc)of the company, you tend to get an overview of the functionality. If you are very sure about doing MBA then try working in a medium size company where you get ample opportunities to interact with peers/mngmt/admin which gives a fair idea about what you want to specialize in. A bigger company will give you the Brand name on your resume but exposure is not certain.You need to sell yourself to the interview panel in either of the scenarios. More the stuff, better the prospects.
Since you are a commerce graduate then its more likely that you will specialize in finance.If so then try to get into a good B school after graduation.If you are not sure about specialization then you better work for a year at least to feel the corporate world. You might find finance not all that interesting and might want to specialize in mktng/HR. It all depends what your intentions are.
Indian B schools are not giving much importance to work ex unlike foreign B schools.
With 3+ work ex you can do 1yr MBA from ISB,XLRI and few more B schools or an MBA abroad.
