Field error mean something problem with your insert query may be there some column having wrong spelled and also best way is you shuld specify the column name in which you want to insert the value
change it as
Create proc panelpros
(
@panelcode int,@name varchar(50),@address varchar(100),@description varchar(100),@abc varchar(30)
)
AS
begin
if(abc='panelinsert')
Begin
insert into panel(name, address, description) values(@name,@address,@description)
End
end
make sure the column name should be correct and the if other column in the table that should allow either null value or having default value
hope this helps you