Is It Legal for Private Companies in Maharashtra to Skip Labour Day on May 1?

Hi all, May 1 is Labour Day in Maharashtra. However, our company has not declared a holiday on 1st May. Is it okay? Will it have any legal repercussions? What does the Labour Law say about a holiday on 1st May? Is it mandatory for private companies to give a holiday on 1st May? Please advise.

Regards,
Mini

In a calendar year in India, there are a few mandated holidays that must be given and followed by all sectors, whether private or public. In case the company has decided to work on the 1st of May, which falls under the purview of a mandated compulsory holiday, then your management will have to pay 2-3 times the basic salary to each employee who worked on that day.