The Kailasa Paramparagatha Sūrya Vaṃśa Chola Samrajya Sarvajnapeetham, was established by Paramaśiva. Sri Palaya Jnandesikar Swamigal is the founder as per recorded History of the Palswamy mutt. The Palswamy mutt is one of the ancient monastery complexes which is a heritage property of a sage by name Palswamy. He expressed extraordinary powers such as disappearing in one place and appearing in another. He healed and enriched the people living in the surrounding community.

The presiding deity is the deity of Paramaśiva and His Divine Consort. Thanjavur is an important center of South Indian religion, art, and architecture. Most of the Great Living Chola Temples, which are UNESCO World Heritage Monuments, are located in and around Thanjavur. The foremost among these, the Brihadeeswara Temple, is located in the centre of the city. Thanjavur is also home to Tanjore painting, a painting style unique to the region.

The monasteries remained under the direct representative and legal heir of Paramashiva, the Pontiff. Paramashiva is worshipped here in deity form. The Pontiff ensures that all the spiritual and religious activities of the kingdom happen as per the methods prescribed in the sacred scriptures. He personally conducts the daily worship at the monastery to the deity of Paramashiva, as well as all the festivals and rituals associated with the deity.