Upload Large size file to AWS S3 fail on server

I am experiencing an issue when try to upload file of 4Mb to s3 bucket using php sdk. This is working fine in my vagrant environment. But when I try on ec2 production server, it gives below error when I am going to upload even 2Mb size of file. But small size of files can be uploaded without problem. Can someone please help me on this? I am using nginx for both environments.

    $s3 = \App::make('aws')->createClient('s3');
    $name= time() . $file->getClientOriginalName();
    $resp = $s3->putObject(array(
        'Bucket' => 'xxxxxx',
        'Key' => $folder.'/' . $name,
        'ACL' => 'public-read',
        'Body' => new Stream(fopen(realpath($file->getPathName()), 'r'))
    ));

    if ($resp['@metadata']['statusCode'] == 200) {
        return [
            "file_path"=>$resp['ObjectURL'],
            "s3_key"=>$folder.'/' . $name
        ];
    }else{
        return false;
    }

Error executing "PutObject" on "https://xxxxxxx.amazonaws.com/documents/1564900266slides.zip"; AWS HTTP error: Client error: PUT https://xxxxxxx.amazonaws.com/documents/1564900266slides.zip resulted in a 400 Bad Request response: RequestTimeoutYour socket connection to the server wa (truncated...) RequestTimeout (client): Your socket connection to the server was not read from or written to within the timeout period. Idle connections will be closed. - RequestTimeoutYour socket connection to the server was not read from or written to within the timeout period.

via Chebli Mohamed