Section 15(1) in The Punjab Panchayati Raj Act, 1994
(1)Every Gram Panchayat unless dissolved earlier under this Act, shall continue for a term of five years from the date of its first meeting.[Explanation. - After the Sarpanch and the Panches have taken oath as provided under section 13, a meeting of the Gram Panchayat shall be held at the earliest and such meeting shall be deemed to be the first meeting of the Gram Panchayat for the purpose of this sub-section.] [Substitued by Punjab Act No. 4 of 2012, dated 21.5.2012]
