Performance prediction of induction machines (IMs) is highly dependent on the accuracy of the material characteristics and geometry of the machine during the modeling stage. To reduce the complexity of an IM model, normally the slotting effects are neglected. Likewise, the permeability of the stator and rotor cores are assumed to be infinite leading to an ideal set of partial differential equations (PDEs) for homogenous and isotropic materials. In this paper, the permeability of the stator and rotor cores are assumed not to be infinite and the slotting effects are taken into consideration to propose a more accurate and realistic model of an IM to reduce the discrepancies between the performance expectations and actual results. Fourier-based (FB) magnetic field approach is used to fulfill this aim via anisotropic layer theory (ALT) enabling the proposed model to include distortion of magnetic flux in the slotted regions. Air-gap flux density, core losses, efficiency and torque of an IM are predicted via the FB model and are validated through the finite element analysis (FEA) and experimental studies.