I got solution
1. Create a "Setup"sub menu which is same as the setup sub menu in the "Enterprise Asset Management" menu.
2. Make sure that you are not having the the sub menu "EAM_WIP_SETUP"
3. Now create a custom EAM resposibility which is same as "Enterprise Asset Management" with the custom setup sub menu.
4. Now assign this custom responsibility to the user.
5. Log in to this responsibility and try to access the setup parameters in the scheduler work bench
You will get the following error.
"function not available for this responsibility "
This way we can disable the wip parameters
Thanks for the update and for sharing the solution.