The console output is:
**** Build of configuration Release for project Timertestnew ****
make all
Building file: ../main.cpp
Invoking: AVR C++ Compiler
avr-g++ -I"G:\arduino-1.0\hardware\arduino\cores\arduino" -DARDUINO=100 -Wall -Os -fpack-struct -fshort-enums -funsigned-char -funsigned-bitfields -fno-exceptions -mmcu=atmega328p -DF_CPU=16000000UL -MMD -MP -MF"main.d" -MT"main.d" -c -o "main.o" "../main.cpp"
Finished building: ../main.cpp
Building target: Timertestnew.elf
Invoking: AVR C++ Linker
avr-gcc --cref -s -Os -o"Timertestnew.elf" ./main.o -lArduinoCore -lm -Wl,-Map,Timertestnew.map,--cref -L"C:\Users\Akhil\workspace\Timertestnew" -mmcu=atmega328p
Finished building target: Timertestnew.elf
Create Flash image (ihex format)
avr-objcopy -R .eeprom -O ihex Timertestnew.elf "Timertestnew.hex"
Finished building: Timertestnew.hex
Invoking: Print Size
avr-size --format=avr --mcu=atmega328p Timertestnew.elf
AVR Memory Usage
----------------
Device: atmega328p
Program: 620 bytes (1.9% Full)
(.text + .data + .bootloader)
Data: 9 bytes (0.4% Full)
(.data + .bss + .noinit)
Finished building: sizedummy
**** Build Finished ****
The 'Problem' view output is:
Description Resource Path Location Type
Symbol 'EEARH' could not be resolved main.cpp /Timertestnew line 15 Semantic Error
Is it possible that eclipse ide is mistakenly showing this error while it compiles it fine? How can I fix this?
Try to delete that problem marker from the problems view and rebuild your project (entirely, not just an incremental). If that fixes the issue, than it was simply an inconsistent state of the compiler.
However, if it does not fix the problem, then it is possible that the Eclipse editor uses a different parser (for content assist, etc.), that cannot handle something your compiler can. For this case, I would look around the C/C++ editor preferences related to errors, maybe it is turnable off (however, I don't program C/C++, so I cannot tell you what to look for).