Microsoft:
Years of Experience: 2 years 8 months
Title/Level: L61(SDE 2)
Location: Hyderabad
Salary: 29 L
Signing Bonus: INR 2L
Stock bonus: USD 60K (4 years)
Relocation : 1.1L
Retention: 2L
Variable Bonus: 0-20%
Total comp: 46L for first two years(Considering average 10% performance bonus).

PhonePe:
Years of Experience: 2 years 8 months
Title/Level: SDE 2
Location: Bengaluru
Salary: 38 L
Stock bonus: USD 40K (4 years)[ESOPS]
Signing Bonus: INR 10L
Retention: INR 8L
Relocation: Standard Relocation benefits
Variable Bonus: NA
Total comp: 55.5 L for first year, 53.5L second year.

Please help me decide, I am looking for quality work and decent WLB.
Any suggestions/experiences?