After searching through the internet, from the experiences shared by many, the setup is well identified and understood. For streaming audio use the 'Stereo' or 'Headphones' profile and for Voice calls in meeting apps, use the 'hands-free' profile which gives both output and input (mic).
But the real problem is not resolved by anyone so far, i.e. when using the 'hand-free' profile for voice calls in meeting apps, the voice is deeply distorted, robotic, slow and unintelligible. Why the hands-free profile does not work properly (expectation is at least a fairly intelligible voice) on windows 10 PC and for any of the meeting apps voice calls?
There are some bluetooth headphones/earphones that actually works, but nobody can tell what specifications make it work, what is different on them than the others that doesn't work. Is it the bluetooth version? Is it the codec? is it the driver?
So we are left clueless on selecting a pair that would work for voice calls on PC based meeting apps.