LOL. Why should I clean the thermal paste from heatsink and processor when my processor is just 1year old? The thermal paste is still sticking to both the parts. I cleaned dust from the heatsink and around the processor socket(not inside the socket ).
Also, When I go into BIOS and press HARDWARE MONITOR, sometimes it takes 3-4 seconds to open and show the Temperatures. My MB temp is @35C, GPU @45-50C, HDD @30-33C while CPU @60-80C and sometimes 50C in LOAD.

Still thinking what is the problem?

@Gannu. What is TIM?