Parama Ekadashi takes place during the Krishna Paksha of the Adhika (leap) month, also known as Purushottama Masa. Just as its name implies, 'Parama' means supreme. It is uniquely powerful in destroying severe financial miseries and granting spiritual and material prosperity.
In the ancient city of Kampilya, there lived a highly virtuous and learned Brahmin named Sumedha, along with his chaste and loyal wife, Pavitra. Due to past bad karma, they were extremely poor, often lacking even a single meal a day. Despite their severe hunger, they always welcomed visiting guests and shared whatever little they had with pure hearts.
One day, the great Sage Kaundinya arrived at their humble hut. Sumedha and Pavitra served him with deep respect. Seeing their extreme poverty, the sage felt deep compassion and advised Pavitra to observe the upcoming Parama Ekadashi of the Purushottama month, explaining that this fast was personally created by Lord Purushottama to alleviate absolute poverty.
Pavitra observed the fast with complete faith and dedication. Following the fast, a wealthy devotee (sent by Lord Kubera, the treasurer of demigods) visited their house and gifted them a beautiful mansion filled with gold, grains, and cows. They lived happily and eventually attained the spiritual realm. Parama Ekadashi thus remains the supreme remedy for worldly hardships.