The concept of Paramatma is not typically a part of traditional Buddhist teachings, as it is more commonly associated with Hinduism, where it refers to the Supreme Soul or Universal Self, representing the ultimate, divine consciousness that pervades all existence. In Hinduism, Paramatma is often understood as the formless, transcendental, and immanent aspect of divinity, which is the ultimate reality that is present in all beings and everything in the universe.

Buddhism does not have a direct equivalent of Paramatma as a Supreme Soul or divine self, as it is a non-theistic religion. However, ideas like Dharmakaya, emptiness, and Buddha nature in Mahayana Buddhism reflect a sense of universal truth and interconnectedness, which may conceptually resonate with some aspects of the notion of a universal, underlying essence, though in a fundamentally different manner.