Hi Anil,
The working is simple and fair. However to bring to your notice that taxes are always applicable as per the Act.
Hence I felt that let not provide the PT deduction of Rs. 200 in the salary structure, instead which can be factored to basic, or HRA or Other allowance.
Rest are fine.
Nagendra, I would also like to inform you that it is imperative that your Basic should be complying as per the Minimum Wages act of the local State