Gyan Panchami was celebrated by the Jain community along with Labh Pachami festival. On this occasion, Jain community children and devotees all worship Saraswati Mata on this day. Artistic and attractive Rangolis are created by them in various places on the occasion and worships knowledge by putting paper-pen.
The festival of Kartak Sud Pancham will be celebrated as Labh Pancham and at the same time the Jain community has celebrated this festival as Gyan Panchami. Jain sages, listeners celebrated Gyan Panchami by fasting and worshiping Gyan traditionally. On this occasion, Jain community, children and devotees worship Saraswati Mata. Rangolis are created by the Jain community in various places on the occasion of Gyan Panchami and Young children worship knowledge by putting paper and pen.
Traders have started business in the new year on this auspicious day of Labh Pancham. Today is Gyan Panchami, Saubhagya Panchami and Pandava Panchami. Their is a belief that every action done on the fifth day pays off.