EDITABLE RICH Text

There's not out-of-box rich text editor (yet), though there has been at least a little bit of demand.
If it's a hard requirement and provided the required formatting is simple enough (i.e. just bold, italics and/or underline), you could provide the users with a syntax to enter their own rich text and write your own parser. The input field they enter text could have a mirror field below where you show the formatted rich text output.

Hi Mike, Thanks for the response, I am trying to understand what kind of parsing we are talking here.By parsing you mean write a customized html or use richtextfieldcomponents ? and if I do parsing that means , do I have to store all the filters selected by user in a table and apply them every time user views the paragraph field ? .

More like, tell the users some syntax they can enter in plain text, similar to what's used in JIRA or some message forums - i.e. *italicized*, **bolded**, _underlined_ ... they would enter this plaintext and this is what you'd store (in PV or in database etc).

But then you would build a parser - i.e. a combination of expression rule(s) and interface component(s) which breaks up the text in question and displays it in a rich text field with the appropriate modifiers on it. This could be shown both on the entry form (so the user can validate what they're entering as they enter it) as well as in any subsequent instances where their text it displayed.

Hi Mark, do you have some example code for above to understand how can we build this.

For example, if there is one field with Label Name, User click on that field then RTF Editor should open with some styles , then user enter details in field and select some style. How can we achieve it.