I am travelling from Yeswantpur to Guwahati. Is it possible to carry my queen size bed as additional luggage/parcel on the train with me.
Based on Indian Railways' luggage web page, it looks like you can indeed bring a bed, but it will go in the brake van as that is the only place that it will fit (maximum 100x60x25 cm to go in the passenger car with you).
Whether you will have to pay will depend on the class of your ticket. There is a minimum 30-rupee charge for baggage in the brake van. You should contact Indian Railways directly to find out the charge, as these values will constantly change over time.