Every time I try to convert from png to eps, through commands like convert or via online converters like here, the eps file is always super large. For example, a 50KB png after conversion becomes 3MB eps.
Then I figured a way to reduce the file size. It is still through convert command, but with an additional prefix inside the command.
An example:
convert a.png b.eps
Above command is a traditional command that outputs a large eps file. Now if we use the command below
convert a.png eps3:b.eps
Then we will get a much much smaller eps.
If error occurs, you can also try the following with less compression option
convert a.png eps2:b.eps
Solution validated and referred from stack overflow here.