Salary Offered With Performance Incentive Plan; Does It Reduce My Net Take Home.

Hi, I'm from Bengaluru and I've recently received a job offer from a start-up. The salary hike which the employer has given is not more than 10%. The employer has included ESOPS worth 52500 which will be offered after I complete probation & 30% of CTC is marked as Performance incentive plan which I understand is a variable and it is not included with the net take home. My question to you fellow people is should I accept a job offer with the below remuneration, And I would like to know how PIP works and will I be paid monthly or yearly. And what if I don't perform in a month? Will the PIP be not included in the monthly salary? As an employee would you accept the offer or decline it. Please share your valuable suggestions on how to negotiate with the employer for a better net take home salary. Details below.

Salary CTC offered: 525000 PA (Can earn up to 150% of PIP)/ Last employer CTC - 480000

ESOPS - 52500 offered after probation.

I'm looking for a better net take home. And already I'm drawing 40k every month. Thank you.

Have attached the CTC break up for your reference.
3rd January 2017 From India, Bangalore

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