I was going through all possible sample on internet to solve this. Still it is an headache.
I just want to avoid the \'public\' in www.mylaravelsite.com/public
Here is the solution, But Must not do it in real projects, it is just for starter to test Laravel and i have tested it with laravel 5.0 and it is ,cut index.php and .htaccess files from public folder and paste it in the root directory and change these two lines as
require __DIR__.'/bootstrap/autoload.php';
$app = require_once __DIR__.'/bootstrap/app.php';
It is Highly Recommended not to use the above method without testing environment, and should use virtual host instead.