How can we create UserManagement application using EF and MVC4

If you say "how can I create this application" you're not going to get an answer. The process for writing applications is the same for every application ever written.

You also don't describe what a "UserManagement" application even is and in what system you're managing users. So that reduces your chances of getting an answer even further.

If you can't describe these concepts to people you have no hope at all of describing them to a computer.