Hello again.
I am exploring an PCB with elements on it for just hobby.
There is a 8 DIP IC on it but the label is erased. I want to know what type of IC is this. I draw the circuit diagram. I can say just this about the terminal connections.
Pin 1: VCC
Pin 8: GND
Pin 6: No connection.
Pin 7: V in
Pin 2&3: Seems to act as sinks for 2 separate leds

 

Often it is possible to know what sort of device an item on a PCB is by knowing what the related circuit is. So some success of the quest is at least possible.
I see descriptions for what is tied to six of the eight pins. What is connected to pins 4 and 5?
With pins 2 and 3 somehow tied to LEDs, is a more detailed description of that portion of the circuit available?? For the pin #1 connection, what sort of capacitors are tied to that circuit, value and voltage rating? With that additional information a good guess at the functionality can be made, which is a first step toward determining the device type number.

 

There is a 8 DIP IC on it but the label is erased. I want to know what type of IC is this.

From your description of the pinout I think it's a pic chip. Especially since power is applied to pins 1 and 8.

 

I agree it does appear to be picmicro 8 pin, practically all versions use the same pin designation.
You could reverse-engineer the board & components and draw up a circuit, from that a suitable pic could be selected and programmed, based on the present functions.
If need be.
.