Dear Deepa,
From your narrative and location, I think yours must be a shop or establishment falling under the Punjab Industrial Establishments ( National & Festival Holidays, Casual & Sick Leave ) Act,1965 and the Rules made thereunder which are applicable to the National Capital Territory of Delhi w.e.f 01-01-1974. Under this Act, you have to grant 3 national holidays and 4 festival holidays in every calendar year to your employees u/s 3 of the Act and if any employee is required to work on any such holiday, he should be given the option of getting twice the rate of his average daily wage for that day OR average daily eage AND a substituted holiday with wages on any other day within a period of 90 days u/s 5(2) of the Act.
For further details please go through the entire Act and the Rules.