Last week, I got a call from someone in HR saying that I am being put on PIP due to poor performance in my project over the last few weeks. I spoke to my coach about this, they said they will speak with HR and also give me further details. I have a few questions about this whole situation, which I am adding to the comments. Any help/advice is greatly appreciated!

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I have cleared PIP, then after 4 months, I have resigned as well...
PIP means there will be action plan, but weekly, your coach will take feedback from your current project lead and manager... if they giving continuous good feedback for next 2 months... then you will clear PIP... but note that even if you clear PIP, that year, you are not eligible for any bonus and increment.

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I was removed from my project as well, and I don't know if or when I will be put on another one

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1. Almost everything I have read on the internet about PIP says that it is just a mechanism companies use instead of directly terminating people, and that there is no concept of coming out of this. Is this really true at Deloitte?
2. If the above is true, or if I end up not meeting the requirements, will I be asked to resign, or will I be terminated? Basically, what would the paperwork be like?
3. I was told that there will be a monthly review of the goals set for the PIP. Is it possible the period of the PIP is shortened or lengthened, or that they fast-forward the firing process, based on the reviews?
4. The other piece of general advice I have seen so far on forums etc., is to work on my resume and prepare to leave the company. Is one allowed to resign from the firm during PIP?

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1. Yes it is true.
2. Yes they can and will ask you resign if goals are not met during PIP.
3. PIP is not shorten
4. Start preparing and switch the company, this would be the best possible thing to do.

Tech stack ?

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