Color management workflow AE - VLC with H264

Hello guys!

I am writing here because I have a doubt about how to set up a proper workflow in ae, to export a h264.

I enable the working color space as Rec709 gamma 2.4 because my final output will be an h264 1920x1080 which will be played on computer monitors. 

Is it correct? I mean for a file that is hd and will be played on computer monitors is rec709 2.4 a good choice? I am asking this because so far I know that h264 does not support embedded profiles, so no matter what I put in output color space it will always be rec 709 gamma 2.4 (right?)

Than I import my footages, mostly jpgs srgb-2.1, and do all my work and then render queue time: now if I render straight an mp4 with output color space the same as the working color space (Rec709 2.4) I've got correspondence, once I reimport in AE the mp4, between my comp and the mp4 but got slightly different result if the mp4 is played in vlc (brighter, perhaps gamma issue?).

I came to a workaround by rendering an mp4 from render queue but setting the output color space as srgb-2.1. Now I have correspondence between the viewport of my comp in AE and the file played in VLC. To have the same correspondence, once imported the mp4 in AE, I need to interpret the footage from rec709 2.4 to srgb-2.1 which to me make sense but I'd like to know your opinion.

All these stuff because I'd like to have an mp4 played on vlc that is 1:1 to what I see from my AE viewport. I know that if the mp4 is given to the client then what he sees is out of my control but I wanted to be sure that on my pc the things are consistent.

Whad do you think of this workflow?

Thank you very much for your time!

Mario