It is a story of a landlord family residing in village of Punjab. Bhaag Singh, the head of the family, who has three sons, is an extreme miser and being such he does not provide his family with a good life. No one dares say anything against him because of his imposing and dominating personality.
Nikka is Bhaag Singh's grandson and the opposite of his grandfather. One-day Bhaag Singh dies of shock because his pocket has been picked and he loses his money.
During the final rites, Nikka appears possessed and unhappy at seeing the expenditure.One wise old man concludes that this is not Nikka but Bhaag Singh's spirit who is BACK. Then starts the laughter ride that is NIKKA ZAILDAR 3.