Salary Breakdown Help: How to Set HRA and Calculate Statutory Bonus Correctly?

Hi, please help me out to fix the salary components.

Salary Component Breakdown

1. If I keep the basic at 45%, should HRA be set at 45% or 50%?

2. Statutory bonus ranges from 8.33% to 20%. How should I calculate this? Please provide an explanation.

Components of Salary Breakup

I am preparing a salary breakup with the following components:
- Basic
- HRA
- LTA
- Conv
- MED Allowance
- Statutory Bonus (if applicable)
- Special Allowance

Please correct me and guide me regarding the percentage for each component.

Understanding Wages Under the Code on Wages, 2019

As per the definition of the term 'wages' under the Code on Wages, 2019, 50% of the gross should comprise basic, dearness allowance, or retaining allowance as the case may be. When the sum of all other allowances exceeds 50%, the excess amount shall be added to the basic for computational purposes of all indirect monetary benefits of employment.

Based on this formula, you can work out the salary structure comprising the items mentioned.