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The fasting method of this Ekadashi is difficult. One has to fast continuously for five nights, also known as Panch-Ratri Vrat. Also, one must not drink water but only Bhagwat Charnamrit from the day of Ekadashi till Amavasya. Fasting for five nights results in good virtue and fortune. Parama Ekadashi Vrat Puja Vidhi is as follows:
1.After taking a bath early in the morning, take some fruit & water in hand and vow for this fast. Then, worship Lord Vishnu.
2. After that, fast for five days while remembering the name of Shri Vishnu.
3. On the fifth day, after offering food and donation to the brahmin, the person should eat his/her meal.
According to religious beliefs, Shri Krishna narrated the story of Parama Ekadashi Vrat and its importance to Arjuna.
In ancient times, a Brahmin named Sumedha lived in Kampilya town. His wife’s name was Pavitra who was supremely vestal (Sati & Sadhvi) and virtuous. In spite of living in poverty, they were extremely religious and serve their guests well. However, becoming miserable with their conditions, the Brahmin thought of going abroad. But his wife said - Swami! Good fortune and child can only be achieved from the donation made in previous life. So, do not worry about it.
One day, Maharishi Kaudilya came to their home. The Brahmin couple served him wholeheartedly. Seeing their condition, Maharishi told them to fast for Parama Ekadashi. He said - You can overcome your poverty by fasting together for Ekadashi in Krishna Paksha of Adhik Masa and performing Jagrans at night. By fasting for this Ekadashi Vrat, Yakshaj Kubera became the Lord of Treasures and Harishchandra a King.
After the sage were gone, Sumedha and his wife fasted for this Ekadashi. In the early morning, a prince riding a horse came and enriched Sumedha with a prosperous home, all riches, property and resources. After that, the couple lived happily ever after.