I think my salary proposal is not yet approved. My technical rounds are cleared and the mentioned offering salary is discussed over the phone with HR. 
 I'm assuming the salary proposal is not yet approved. 
  So,I'm continuing my job hunt.

Software Test- QA

CCTC: 22LPA ( 5% variable)
YOE : 8.5  
Offered CTC : 29LPA ( fixed pay) + 10% variable+ 25K USD RSUs(4 years vesting period) + JB 1.5L + Relocation bonus 1L

CCTC: 22LPA ( 5% variable)
YOE : 8.5  
Offered CTC : 29LPA ( fixed pay) + 10% variable+ 25K USD RSUs(4 years vesting period) + JB 1.5L + Relocation bonus 1L + 10L free medical insurance.
Tech stack: L2 L3 protocols, python 
Current company: Cisco

Shall I go ahead with this offer? Am I lowballed ?