When Paisapay has done a refund to the buyer, you get a mail from ebay in which they say "If you do not agree with this refund, please visit the PaisaPay Resolution Centre."
When you go to "PaisaPay Resolution Centre." you see this image given below:-
Now see what written in the circled tab "Refund approved in favour of buyer" which means refund has been approved in the favour of the buyer already even after sending the item to the buyer and the buyer having received it.
Now see the blue highlighted part which contradicts the above statement completely, it states that "you should have contacted customer support within 5 days from date of the refund request being initiated"
BUT BUT BUT This paisapay resolution centre is for appealing only after "Refund approved in favour of buyer" whereas when refund request is initiated at that time refund is not approved to the buyer so what should the seller do if he wants to appeal against an unjust refund---------------Nothing, this is just a way of ebay to cheat the sellers.
If we are going to contact ebay CC when refund request is initiated then what is the point of having this "PaisaPay Resolution Centre." and what resolution is this resolution centre providing can anybody from ebay tell me and when already refund has been done to the buyer then what is point in sending a mail stating that "If you do not agree with this refund, please visit the PaisaPay Resolution Centre." which tells us ha, ha fooled you, nothng can be done now.
Your snapshot nowhere states that "you should have contacted customer support within 5 days from date of the refund request being initiated" ...You are misinterpreting the English. 
It is saying "If you have contacted eBay with in 5 days from date of refund request initiated by your buyer", then you are eligible of eBay seller protection.
If you meet all the 3 stated conditions, dont worry you will get your money under eBay seller protection.
