This is a companion paper to an earlier work of the authors. In this paper, we provide an axiomatic definition of Floer homology for balanced sutured manifolds and prove that the graded Euler characteristic of this homology is fully determined by the axioms we proposed. As a result, we conclude that χpSHIpM, γqq " χpSF HpM, γqq for any balanced sutured manifold pM, γq. In particular, for any link L in S 3 , the Euler characteristic χpKHIpS 3 , Lqq recovers the multi-variable Alexander polynomial of L, which generalizes the knot case. Combined with the authors' earlier work, we provide more examples of p1, 1q-knots in lens spaces whose KHI and { HF K have the same dimension. Moreover, for a rationally null-homologous knot in a closed oriented 3-manifold Y , we construct a canonical Z 2 on KHIpY, Kq, the decomposition of I 7 pY q discussed in the previous paper, and the minus version of instanton knot homology KHI ´pY, Kq introduced by the first author.