The folder cannot be completely removed. A message showed up saying that the folder is a system folder. A number of hidden directories are stored inside. I have reset the internet explorer so there should be no temp files anymore but it is not the case since I found some big files (in megabytes) inside temp folder. The folders are named: Content.IE5, Content.Word, Content.Outlook, AntiPhishing , etc.
These folders can only be seen in cmd prompt but not in internet explorer.