After spending considerable amount of time in setting up log-shipping for multiple database and trying to figure out why only one alert job gets created - had no clue on why however one thing became clearer as we kept on configuring databases and jobs were getting over-written that even though there is only one job being retained at SQL Server Agent Job level, it does its job for all databases and alerts us in case any of the underlying database replication fails or has some issue in back-up, copy or restoration.
I am not sure why MSSQL doesn't support having multiple jobs created however its doing its intended job internally. I also have been checking "Transaction Log Shipping Status" report can monitor the status of all databases.
I also checked two tables from msdb database at monitoring server and ensured that log-shipping is working as expected.
Thank you for your support. This could be helpful to somebody who is setting up log-shipping for the very first time and wants to use monitoring server.