I really wish I could give details, but since I've never heard of this 'god lives in panch' story, it's impossible. It might be something very specific to a certain group or area that hasn't been widely known.
Sadly, without any prior knowledge of the 'god lives in panch' story, I can't offer any details. It could be a story with deep cultural, religious, or moral implications. If it's a religious story, it might be about the relationship between a deity and a place named Panch, perhaps with lessons about faith, worship, or the power of the divine in a particular location. However, this is all just guesswork without more information.