I got an offer from Concetnrix @ 5000 Myr

Please read back through the other postings recently on the forum about job offers and cost of living. They will provide you with everything you need to know.

However, RM5k is too little to survive on as a family in Malaysia. The rents around Cyberjaya are RM1.4-2k alone and the cost of living is 40-60% higher than in India.  You would need private medical insurance for your wife and daughter as well. Cyberjaya is one of the most inaccessible places so a car would be the best solution, but I dont think you can afford one and the running costs. Even rental will be about RM1k per month all in. 

This sounds like a local package, but foreigners who come to live in Malaysia always have to spend much more.

The good news is that your income tax once you are tax resident (after 182 days) will be RM 337.50 per month. It will be RM 7k for the first 6 months while you are non tax resident, but you can claim it back in April 2016 and a spouse allowance.

And if I am not bringing my family..will it be ok...

There will be very little difference whether you bring your family or not on day to day expenses. The only thing would be you could rent a room in a flat share for less than private accommodation for you both. The cost would be around RM800 per month (might be less but it would unlikely to be convenient for Cybejaya). Doctors visits are RM30 and medicines are twice or more expensive than India, which has some of the lowest prices. You could suffice with a motorbike I guess. (Dont forget to get your driving licence endorsed before you leave India - see forum posting today about that). Running two households is probably rather expensive so having your wife with you might actually be better. If you do a search on Cyberjaya you can see all the posts and links about it.

A terrible salary that means no savings. If you leave your family behind how will they survive? Babies eat money fast!

If you bring them one bout of sickness and you are "bankrupted".

Malaysian employers who offer these salaries should be ashamed of themselves. I bet some outsource the jobs and pocket most of it.

Seen it in Thailand with teachers in state schools for tefl. The school gets 60,000 baht per month for the teacher. They pay 35k. Head pockets 25k per teacher per month. One I knew even had volunteers from usa and "paid" them 10k and pocketed 50k per "teacher". The next and most devious level is to get volunteers (aka as suckers) to work for nothing or even pay you for the privilege.

Same same all over Asia. Maybe if you cant beat em join em so I will ne looking for ......