Section 103(3) in The Punjab Panchayati Raj Act, 1994
(3)The election to constitute a Panchayat Samiti shall be completed :-(a)before the expiry of its duration specified in sub- section(1);(b)in case of dissolution, before the expiration of a period of six months from the date of its dissolution:Provided that where the remainder of the period for which the dissolved Panchayat Samiti would have continued is less than six months, it shall not be necessary to hold any election under this sub-section for constituting the Panchayat Samiti for such period.