Current Company: Fintech
YOE: 5 years 11 months
Current CTC: 16,50,000

Role : Software Engineer 3
Company: JP Morgan Chase
Salary: ₹33,00,000
Annual Bonus: 0-12% as told by recruiter, not mentioned in the offer letter though
Stocks: no stocks
Joining Bonus: None
Total comp : ₹33,00,000 + 0-12% annual performance bonus
Benefits: not sure
Tech stack : React JS, Teraform, Java/Springboot, AI/ML- LLM, Prompt Engineering.

I feel that the Compensation is not at par with the amount of work which they would be assigning to me

Should I negotiate?
as of now I donot have any counter offer, we can only negotiate with a counter offer or I can have a word with HR directly?

I feel this as a lowball. as I have seen JPMC offering upto 42lpa fixed at SE-3 Level

Please Help