I have data of blur on my address in my passport.
You need to replace it. The damage of documents may affect the decision.
"Work visas will be issued for the amount of time corresponding to the work permit or intent to hire a worker."
My passport Validity is till September 2017 (for around next 3 years)
It's yet another circumstance why you should replace it.
So Is there any speedy process ?
The length of visa applications processing varies. It depends on the country, whose citizens apply for such a document. I don't know nothing about speeding up, but a number of things can slow down the processing of your application. But if everything is fine you may get your Visa quicker than the estimated time frame which you provided.
What are the general chances of rejection of VISA in any case? And, can we re-apply after rejection ?
If all requirements are met, you should be fine. Specific circumstances about Visa denial were presented, check my link above. In case if it happen you may re-apply for the Visa again.
How much salary can I expect for exp. between 5-8 years.
Ask people who are working in the same business or call directly your employer.