Can anybody please tell if a profile in Salesforce has Create, Read and Edit permissions on an object and for the particular user to whom the profile is assigned is the same as above how to restrict that particular user from editing the record?
Ok. This is not easily explained. So brace for a long text:
Salesforce has basically two trees of security: Field-Level-Security and Sharing.
Field Level Security (FLS) controls what fields and objects a user can see. That's managed via profiles and permission sets. It means that a user will be able to see the Account tab and the Name Field and Birthday.
Sharing controls which records the user can see. It's managed via OWD (Org Wide Defaults), Roles and the View All and Modify all permissions of the FLS.
A user can have access to a object through its profile, but won't be able to see any records if the org sharing rules don't share the record with him.
Keep in mind that salesforce always will respect the least restricted rule applied to a user. So, in any of the cases, there's no way to allow access for everybody and them remove acces for a specific user. What you need to do is restrict access for everybody and then allow access for all user except one.
So, for short. You can give that specific user a different role, and the create a sharing rule on the object that shares all records with the roles of the other users.
This module of Trailhead will give you a very good explanation on how to do that.