DRC check for Silkscreen clearance in Eagle Autodesk 9.5
Is there a way I can check silkscreen clearance with respect to Pads

If you do a manufacturing preview you will see something like this: -

Notice that for the top middle resistor (R2), I deliberately moved the silkscreen component-ident to overlap the left copper pad. I'm talking about R2. Notice how you cannot force the silk screen legend to be printed over copper pads.
In other words you don't need to worry about this if that was the concern you had. But you do need to worry that your silkscreen is legible so use the manufacturing preview to eye over the layout.