The Study Peeped into the concept of decentralization of powers in the educational administration of elementary education in Punjab state. The three identified partners in the School Community Co-operation at rural elementary school stage were Higher Administrative Authorities (C.E.O, D.E.O etc), Headmasters and V.E.D.C Heads. The study compared their perceptions regarding Decentralization of powers, Performance in V.E.D.C working, Problems in V.E.D.C working as well as their valuable suggestions to improve the present status. The study is Descriptive Survey type research. Stratified random sampling technique was used to select a sample of 60 villages with PPS (probability proportionate to size i.e population: sample) is 3:1.Three questionnaires from three stakeholders were prepared and standardized by the researcher along with personal interviews and researcher's observations. The analysis was done through MIPS scoring technique along with frequencies, SWOT analysis, T-test, andF-test. The results showed significant differences in the perceptions of stakeholders and concluded with valuable suggestions.