Single-phase four-leg variable frequency PWM drives have been traditionally generating balanced two-phase output voltages resulting in a circular space vector trajectory while feeding the two-phase induction motor (TPIM). Keeping in view of the asymmetry in the auxiliary and main windings in the TPIM, this paper suggests output voltages to be generated by the drive in accordance with the windings asymmetry. This paper proposes a new PWM algorithm for the dual H-bridge voltage source inverter (HB-VSI) targeted at synthesizing an elliptical space vector for driving the unsymmetrical TPIM. The elliptical space vector generation is envisaged to minimize the MMF imbalance thus leading to significant reduction in oscillations of the motor electromagnetic torque. Analytical expressions are developed for the dwell-times of the inverter switching devices and the implementation is proven to depend entirely on the instantaneous four phase reference voltages. The proposed PWM algorithm is then simulated using Matlab/Simulink following V/f control in the linear modulation ranges of the drive. The TPIM when excited using the envisaged elliptical space vector shows the improved MMF balance manifesting itself in reduced electromagnetic torque oscillation and reduced speed ripple when compared to the use of circular space vector. © 2016 IEEE.