HR says as mentioned in the offer letter you will get 100% engagement bonus. Is it true?

Also I have heard from someone regarding a fixed variable, what is this fixed variable thing?

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Hi, in how many days you received the offer letter after salary discussion?

More than 1 month

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HCL -
Fix -   1,156,500
Variable - 107,200
Total CTC - 1,340,006

EXL -
Fix - 1,100,000
Var - 1,650,000
CTC - 1,345,000 + 50 K Joining bonus.

Which offer is good and which company should i join.

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Kindly suggest which option to opt for

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