Hi,
I am confusing that if I use my existing website content for press release submission then is it harmful for my website ranking in search engines due to content duplicacy???
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No, it doesn't harm your search engine ranking. But some PR sites won't accept the story which are already published. However its better to submit the story to a PR site and make search engine to crawl and index it and then syndicate it.
As for me, I have never faced this kind of problem submitting press releases... only with artciles.
Much better if the article is unique and original.
It may or it may not....
This all depends on the visibility of the Press Release.
Moreover, when it comes to check duplicacy, content which was indexed first will be counted as original content.
It doesn't harm your seo. But some PR internet sites won't take the story which are already published. However its better to publish the story to a PR website and create seo to analyze and collection it and then spread it.