The result meant that Jharkhand will have to return to Group C after just one season.
Off-spinner Gurkeerat took four for 59, while Rajwinder (3/38) and Rahul Sharma (3/15) picked three wickets apiece to skittle Jharkhand for 127 in their second innings at the Railway Stadium.
Punjab bowlers took just 34.1 overs to bowl the hosts after they were asked to follow on Punjab skipper Mandeep Singh on day three here.
Left-arm spinner Rajwinder added one more wicket to his overnight tally of four, bringing up his second five-wicket haul in first-class cricket.
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Asked to bat again, Jharkhand failed to negotiate the spin trio of Gurkeerat, Rajwinder and Rahul.
Opener Rameez Nemat, who made 81 in the first innings, was the only batsman to resist once again as wickets kept tumbling at the other end.
Nemat made 48 off 85 balls, including seven fours.
Gurkeerat finished with match figures of eight for 99, while Rajwinder spent 106 runs to claim his eight scalps.
Punjab: 516
Jharkhand: 216 & 127 allout 34.1 overs (Rameez Nemat 48, Kumar Deobrat 24; Gurkeerat Singh 4/59)
Points: Punjab 7, Jharkhand 0.