I need to get the current time, in Hour:Min format can any one help me in this.
$var = date('H:i');
Should do it, for the current time. Use a lower case h for 12 hour clock instead of 24 hour.
$hourMin = date('H:i');
This will be 24-hour time with an hour that is always two digits. For all options, see the PHP docs for date().