Hi Deepak,
It would be hard to provide blind troubleshooting, can you provide more details about your replication issue.
Firstly, did the replication work before ?
Secondly, what contents you replicate between you both server ? No option checked means strictly Database, Groups, Policies. If you have checked some boxes such as logs and sep package and liveupdate contents it can have an impact on the data.zip size transfered between your both servers.
As Pete already asked, replication uses the port 8443. Did you check if that traffic is allowed between your 2 SEPM server ?
Third, did you schedule your replication to run once per day or once per week ? If not, it's not really advised to set it up to "Auto-Replicate" because it could lead to a lot of database locked everytime there is a change on one of them (every 5 minutes).
FYI, Replication, Live Update and Auto-Upgrade use a common process so if any of them is running, your replication can fail. It's advised to have a proper schedules for LiveUpdate and a different one for your replication.
Try to run a manual replication then upload scm-server-0.log and replication-0.log in order that we can see what happens.
Kind regards,
A. Wesker