Cost of Living in KL

There are too many variables to really answer your questions.

As you say, schooling costs could cost you RM10k per month at some schools for senior level children. 

Depending on which school and where your office is located, what will be the cost of accommodation. You could set aside RM3.5-5k per month but it could cost much more depending on size, age, location.

The only posts that are pretty constant will be groceries (RM  2k-2.5k) help (RM1300) utilities (RM5-700 twice that if you want to use air conditioning a lot) Mobile phone costs will be RM200 for 4,  entertainment (RM2k upwards).

Its a lowish salary for 20 years of experience, but then that is why foreigners are hired to work in Malaysia.

Driver/Chauffeur - the salary would be about RM1500 (if you can get one). If you want to go down that route, you MUST get the company to provide this benefit. Travelling by road is highly traumatic in and around KLCC. So it all depends where you have to live because it is near the office.

Here is a salary guide which may put salaries in perspective to those in New Dehli

Salary Guide 2014-15

Thank you Gravitas, for your detailed answers.  Really appreciate, and does help a lot.

You mentioned that there are lot of variables, because of which it is difficult to answer my questions.  Would you like to list them, and maybe i can try to answer them.

I have told you what they are above. If you dont have a budget to work to, you can blow the lot - that what I call variables. But its expensive to live a decent life in Malaysia with a family. Look up the fees at some of the schools (another variable) to see what you are prepared to pay. You need to do some footwork yourself or you will not be prepared to live in Malaysia and knowledgeable enough to avoid the pitfalls.