Option 1 states that the minimum age for any person to be a member of Panchayat is 25 years. This is incorrect. As per the Indian Constitution (73rd Amendment Act, 1992), the minimum age to become a member of Panchayat is 21 years, not 25 years.

Option 2 states that a Panchayat reconstituted after premature dissolution continues only for the remainder period. This is correct. For instance, if a Panchayat were originally supposed to be in place for five years, but it dissolved two years into the term, a new Panchayat would only serve for the remaining three years—not a full five-year term.

Option 3 states that both statements are correct, this option is incorrect since only statement 2 is correct.

Option 4 states that neither of the statements is correct, this is incorrect as statement 2 is correct.

Therefore, the correct answer is `2 only`.