There are none, in 3.5 or Pathfinder. Continuing an existing character via raise dead or similar caused the loss of a level in 3.5, which set your XP to halfway between your previous level and the one you used to have. Extrapolating that loss to a new character may be consistent, but honestly, these penalties have always struck me as extremely poor ideas. Apparently Paizo agreed, since it removed them for Pathfinder, but there is still a “permanent negative level” (which can be removed with restoration or the like) that I still think is a bad idea.
Players should be invested in characters. They should not want characters to die. Losing a character should be “punishment” enough. And if they do want characters to die, because it’s either dramatic and cool (“a good death”) or because they’re simply tired of the character, that is good for the game because the former makes a good story and the latter means they’re enjoying the game more, which makes them more invested.
So death is its own punishment, or if not, the player doesn’t deserve to be punished. This is a game wherein people are investing their own free time to play with you and tell a story, to do amazing things, and so on. Rules which are going to limit their ability to play are not a good idea. Being a lower level is very difficult and complicated to play, and does tend to make a player feel punished. This is a game, there shouldn’t be any “punishment!” Death is just another part of the story.
And most of all, having a split-level party is an extremely annoying thing to deal with as a DM. You have to calculate XP separately for them, and you have to consider their lower level in every encounter, which gets very annoying, very quickly.
For more ideas on how to handle death in ways that aren’t, well, punitive, I suggest How do I not cheapen death, while also respecting my players' time? I, too, had a lot of concerns along these lines, and the answers there helped me a lot.