The correct answer is option 3: "for six years or till the age of 65, whichever is earlier".

This means that the Chief Election Commissioner of India can hold office for a maximum of six years or until they reach the age of 65, whichever comes earlier. It is important to note that this position has a fixed term and is not subject to the pleasure or approval of the President, as stated in option 2. The other options, option 1 and option 4, provide incorrect information about the tenure and age limits of the Chief Election Commissioner`s position.