Hi Dinesh.
It's strange because the install method is the same I have been using always, and I've tried several times. Just downloaded the kexts, remove the conflicting kexts you speak about, and from the terminal copy the new ones to /System/Library/Extensions. Then, I run Kext Utility. I presume that everything should be fine. Just like installing any other kexts.
The kexts were working fine, since 10.8.4. I have also read that the problems start really in 10.8.5, but I skipped this version due to the new Mavericks.
I have an Elan v3 touchpad.
Thanks a lot.