As per the Andhra & Telangana state rules (as per current understanding, both the states follow the same rules), the deduction is based on salary/wage earned, monthly. The definition of wage/salary is here.
"salary or wages" includes pay, or wages, dearness allowances and all other remuneration
received by any assessee on regular basis, whether payable in cash or kind and also includes
requisitions and profits in lieu of salary as defined in section 17 of the Income-tax Act,
1961, but does not include bonus in any form and on any account or gratuity;
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