I thought of one solution:
I will use FetchFile processor and I will put the path of LOG file in its configuration. Will that work?
(FetchFile will keep fetching the new content in the file and putting those content to destination which is PutSplunk in my case)
If it is a running log, use Tail File
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Thanks Arun, you are right. I did it using TailFile. @Arun A K