Hi Jayshree Nagpure,
We have go through the JIRA, We found that in FormBuilder page on Tab Field Configuration Company Admin User Rights are set to Required and Drop down is having only one field in it which is default field in system (Form Builder Page) , and if filed is required then it will not consider first field and throws validation error for the same.
So this is the Customization Issue.
Please Make that field as editable it will work fine and allow admin to save the page.
PFA screen shot where we have customized same configuration for Field Demo, this also behaves the same, this is as per system behavior.

Thanks,
Harshawardhan.
CC: Rohan J Khandave, Niteen Surwase

Assigning ticket to Umesh Kadam

Cc: Amruta Lohiya

Hi Amruta Lohiya

As we discussed that Currency and Date Format field will be removed from Add employee screen.
Until then we have scanned all the companies on Pro-production. We don't found any Currency and Date Format field with required rights at any company. So, as this field will get removed from Add employee page, we'll not make any changes for the same.

Please take the further action to remove the same field from Add Employee page.

Thanks,
Niteen S.

Cc: Swapnil Pandhare Satya Nidhi Kaul

CC:Nidhi Kaul

cc - Rakesh Roy Prasad Pise Sachin Hingole

cc : Rakesh Roy Prasad Pise Sachin Hingole