Abstract: What is described herein is a synergistic preservative composition capable of providing broad spectrum antimicrobial activity comprising: (i) about 0.1 wt. % to about 99.9 wt. % of propylene carbonate; (ii) about 0.1 wt. % to about 99.9 wt. % of one or more organic compounds, and wherein, inclusion of each additional organic compound is capable of demonstrating cumulative synergistic effect; and (iii) optionally about 0.1 wt. % to 99.0 wt. % of one or more preservative compounds, and wherein, inclusion of each preservative compound is capable of demonstrating cumulative synergistic effect, wherein the Synergy Index (SI) value of the total composition is from about 0.05 to about 0.95. Also described is a process for preparing said composition and method of use of the same.