What the Panch Bhoot really means

The Elements of life: 

The first element of life is mass - a body. That comes from Earth - Prithvi.  

75% of the Earth is water. 60% of the human body is water - Jal. 

The next thing that makes a living being is Breathing - Praan - Vayu. 

After that, we need the digestive energy and homeostatis - Agni 

And finally, the difference between a body on ventilator - breathing, producing urine, and heart beating, and one living, is the concept of soul. A soul is also the connection with the infinite. It comes from the infinite, and merges back into the infinite. It literally descends into the body and goes up from the body. It is our connection with the universe - Antariksh / Akash

And therefore, the Panchabhoota - the five elements, are not elements of chemistry. They are elements of life - elements that must exist for each living being to be "alive".