At Stumps on Day 2, India have taken a lead of 218 runs with Jaiswal (90 off 193) and KL Rahul (62 off 153) in the middle.
Australia added 37 runs to their overnight score of 67/7 before getting bundled out for 104 in 51.2 overs.
At the time of writing, Yashasvi Jaiswal scored 51 runs off 131 deliveries at a strike rate of 38.93.
Playing for Hyderabad, Varma’s innings of 151 saw him smash 14 boundaries and ten maximums at a strike rate of 225.37.
As per the tentative schedule, the ICC Champions Trophy will be played from February 19 till March 9 in Pakistan.
Harshit Rana claimed three wickets in his 15.2 over spell in the Australia first inning in Perth.
Indian bowling attack restricted the hosts to 104, taking a lead of 46 runs going into lunch on Day 2 of the Perth Test.
Notably, the 29-year-old will go into the IPL 2025 mega auction after registering himself for the base price of INR 75 Lakh.
After 40 overs, Australia’s scoreboard read 94/9 with the hosts trailing by 56 runs.
It is the second time Pandya has held the No.1 ranking for T20 all-rounders, with the consistent India performer first rising to the top at the end of this year's ICC Men's T20 World Cup.