Hello Rohith, 

Biochemistry is a is branch of science that studies about the chemical substances and other vital processes that occurs in the living organisms. Biochemistry is closely related to molecluar biology.

Bio chemists focus heavily on the role, function, and structure of biomoleclues. The study of the chemistry behind biological processes and the synthesis of biologically active molecules are the examples of Biochemistry.

Pay Packages: In India intially, the salary ranges between 20,000 to 25,000. With your knowledge and experience, you will get better packages. You can choose between being a researcher or get into teaching field after having a Ph.D in Biochemistry.

Latest Invention: 

Wireless 'pacemaker for the brain' could offer new treatment for neurological disorders. Device fine-tunes treatment by stimulating and and recording electric current in the brain at the same time. The new neurostimulator can listen to and stimulate electric current in the brain at the same time, potentially delivering fine-tuned treatments to patients with diseases like epilepsy and Parkinson's.*

*Source: University of California - Berkeley (www.sciencedaily.com)

Goodluck!

Hope this helps :)