Dear Db Bose,
It seems to me that you need to make your concepts clear on as to what is wages and its components - statutory / non statutory. Its' earning part, deduction part. How it is different than company cost.
Also you need to answer yourself on:
1. How service tax is applicable on employment or on wages?
2. How TDS is applicable when the wages per annum is less than one lac?
3. What and how cess and duty applicable on employment or on wages?
However, to facilitate you to conclude yourself, please find attached herewith wage structure with cost to company. You are requested to kindly go through it and clear your concepts on it.