Option 1: This statement is correct. The members of the Rajya Sabha are elected by the elected members of the Legislative Assembly of a State. The representatives are chosen through a process of indirect elections.

Option 2: This statement is correct. The election to the Rajya Sabha follows the system of proportional representation by means of a single transferable vote. This means that candidates who attain a certain quota of votes are elected.

Option 3: This statement is correct. 1/3rd of the members of the Rajya Sabha retire after every two years. This staggered retirement system ensures a continuous influx of new members and maintains the continuity of the legislative body.

Option 4: Alert - correct answer should be 3. The statement that the Rajya Sabha is a permanent body is incorrect. The Rajya Sabha is not a permanent body and continues for a term of six years. It is not subject to dissolution by the President.

In conclusion, the correct statement is option 4 as the Rajya Sabha is not a permanent body and cannot be dissolved earlier by the President.