Dear Saswata,
I am extremely sorry that I do not agree with your opinion. Rather I will suggest you to read the definition of Wage time and again to understand the twist of mathematics in the definition.
In the definition there are mainly 3 parts - 1st part all remuneration payable to employee including Basic , DA and Retaining allowance. 2nd part is exclusion list (a) to (k) and 3rd part is- 1st proviso mentioning how to check 50% condition of the exclusion part from (a) to (i). If the total exclusion under (a) to (i) is more than 50% of the wage, the extra amount will add back to wage. Therefore, in the definition of wage no where it has been told to calculate 50% of gross salary.
As per definition it is all the remuneration calculated under this definition payable to employee which is nothing but CTC excluded ESIC & Insurance premium if any as those items are not payable to employee and 50% of the same will be Wages ( Basic & DA).
I have made many posts earlier explaining the same thing. If you do not accept my opinion , please check experts of India in this regard - Tax Guru, Mercer, Deloitte etc.
Thanks & Regards,
S K Bandyopadhyay (WB, Howrah)
CEO-USD HR Solutions