After few hours of trial error found the below solution to be working. If anyone have better soultion please suggest.
- Open your git hub web, create a new repository with a readme and .gitignore file. 
- Clone the repo to your machine.Open terminal. - cd your_directory - git clone your_repo_url 
- copy and paste your existing project folder to this directory("your directory")- make sure you have deleted the local git from this folder Refer this link 
- open gitignore file and uncommnet the below line.(# Add this line if you want to avoid checking in source code from the Xcode workspace)
*.xcworkspace 
- In terminal run command - git statusThis will list out new changes you have done in the folder.
 
- run command - git add --all
 
- run commit -m "commit message"
 
- git push
 
Make sure you have removed large files from your project, files like video audio etc.
While you check out this repository to another folder, make sure you run pod install and create xcworkspace.