Hi Arun,
Please follow these steps:
1. Complete ruleset to deactivate Event handler.
2. Define Archiving Sequence for SAP Event Management Objects to set Event Message, Event Handler (default set by SAP) or Event Handler, Event Message.
3. Complete residence time to Define Archiving Sequence for SAP Event Management Objects a) Residence Times for Event Handler Archiving b) Residence Times for Event Message Archiving 1 c) Residence Times for Event Message Archiving 2 (set EvtMsg Res.Time equal to 0) 
4. a) Execute tcode SARA -> Enter SAPTRX_EH -> Select Preproc -> Select Maintain to create new variant -> execute -> Enter archiving event handlers and other details, Further selection criteria, and processing Options as "Test" in dev and QA system then SAVE. Report Program /SAPTRX/ARCHIVE_EH_PREPROCESS
b) Go to back first screen on SAPTRX_EH -> follow same steps what you have done. Program /SAPTRX/ARCHIVE_EH_WRITE.
You need to follow same steps for SAPTRX_EVM.
If you want to check which table are archived, then click Database Table on Application Bar in once you entered Archiving object in Tcode SARA.
Please do this first in Dev or QA system with few event handlers.
Regards
GGOPII