In addition to the above, generally the companies follow 40% or around, of the total CTC as Basic Pay.
21st June 2018 From India, Khargone
You have not specified to which category these kind of employees belong to. Normally the State/Central Governments do not fix minimum wages for such kind of highly paid employments.
To quote the specific directions, Govt of Punjab has already notified this clause in its minimum wage notification stating that "The minimum wages fixed/revised shall be the basic rates of wages."
This point has also been clarified by the Hon'ble Supreme Court of India in Airfreight Ltd Vs. State of Karnataka in the year 1999.
27th June 2018 From India, Mohali