have not worked on itext before thus a good practice.
That's only a good reason if you have unlimited time. Is your employer fine with you adding new technologies to a project in order to bolster your CV?
300 fields, give or take, is nothing. Not sure what you mean by "efficient", but any solution that stores those in a DB will be faster than a solution that handles PDFs - reading and writing such files is a complex and comparatively slow process.
AcroForms is a big subject. Like I said, if you're serious about PDF processing in
Java, get iText in Action; it explains form handling, amongst many other subjects, and does it very well.