The sentence "Even if it rains I will reach there well in time" means "If it rains I will reach there well in time."
Explanation:
"Even if" suggests that the speaker is emphasizing that, regardless of the condition (it raining), the result will still happen (the speaker will arrive on time).
"If it rains" implies that the condition (rain) could happen, but the speaker's arrival time is still assured.
In both cases, the meaning is similar: the speaker is committed to reaching the destination on time, despite the possibility of rain. However, "even if" adds a sense of determination or emphasis that the condition won’t prevent the outcome.