If the posting is in Pune, a tier 2 city, isn't it for a manufacturing company or an office to be under Shops & Commercial Establishments Act? You may consider the following breakdown:
- Basic pay, anywhere between 35% and 50%
- Fixed and variable Dearness Allowance at 20-25%
- House Rent Allowance at 10-15%
- Conveyance reimbursement at 5-8%
- Medical allowance at 2-5%
- If married and having children, Education Allowance at 1-2%
- If a uniform is involved, Uniform Allowance at 1-2%
- Other allowances at 2-5%
You can compare similar compensation structures followed by other firms in your sector.