diff --git a/__tests__/core-utils/element-validations.test.js b/__tests__/core-utils/element-validations.test.js
index b9960f6..9f46068 100644
--- a/__tests__/core-utils/element-validations.test.js
+++ b/__tests__/core-utils/element-validations.test.js
@@ -8,6 +8,7 @@ import {
   validatePin,
   validateRevealElementRecords,
   validateGetInput,
+  validateExpiryDate,
 } from '../../src/core-utils/element-validations';
 import SKYFLOW_ERROR_CODE from '../../src/utils/skyflow-error-code';
 import { parameterizedString } from '../../src/utils/logs-helper';
@@ -186,6 +187,41 @@ describe('test validatePin function', () => {
   });
 });
 
+describe('test validateExpiryDate function with various format', () => {
+  it('should return true for current month/year', () => {
+    const today = new Date();
+    const month = (today.getMonth() + 1).toString().padStart(2, '0');
+    const year = today.getFullYear();
+    expect(validateExpiryDate(`${month}/${year}`, 'MM/YYYY')).toBe(true);
+    expect(validateExpiryDate(`${year}/${month}`, 'YYYY/MM')).toBe(true);
+
+    const yearTwoDigit = year % 100;
+    expect(validateExpiryDate(`${month}/${yearTwoDigit}`, 'MM/YY')).toBe(true);
+    expect(validateExpiryDate(`${yearTwoDigit}/${month}`, 'YY/MM')).toBe(true);
+  });
+
+  it('should return true for valid future date', () => {
+    expect(validateExpiryDate('07/2074', 'MM/YYYY')).toBe(true);
+    expect(validateExpiryDate('2074/04', 'YYYY/MM')).toBe(true);
+    expect(validateExpiryDate('01/35', 'MM/YY')).toBe(true);
+    expect(validateExpiryDate('35/04', 'YY/MM')).toBe(true);
+  });
+
+  it('should return false for expired dates', () => {
+    expect(validateExpiryDate('01/2020', 'MM/YYYY')).toBe(false);
+    expect(validateExpiryDate('2000/04', 'YYYY/MM')).toBe(false);
+    expect(validateExpiryDate('04/20', 'MM/YY')).toBe(false);
+    expect(validateExpiryDate('20/04', 'YY/MM')).toBe(false);
+  });
+
+  it('should return false for invalid month for expired date', () => {
+    expect(validateExpiryDate('15/2040', 'MM/YYYY')).toBe(false);
+    expect(validateExpiryDate('2040/16', 'YYYY/MM')).toBe(false);
+    expect(validateExpiryDate('14/20', 'MM/YY')).toBe(false);
+    expect(validateExpiryDate('40/14', 'YY/MM')).toBe(false);
+  });
+});
+
 describe('test validateRevealElementRecords', () => {
   it('should throw error when invalid redaction type is passed', (done) => {
     try {
diff --git a/src/core-utils/element-validations/index.ts b/src/core-utils/element-validations/index.ts
index b9491bf..9f20042 100644
--- a/src/core-utils/element-validations/index.ts
+++ b/src/core-utils/element-validations/index.ts
@@ -58,13 +58,20 @@ export const validateExpiryDate = (date: string, format: string) => {
   if (date.trim().length === 0) return true;
   if (!date.includes('/')) return false;
   const { month, year } = getYearAndMonthBasedOnFormat(date, format);
-  const expiryDate = new Date(`${year}-${month}-01`);
+
+  if (month < 1 || month > 12) return false;
+
+  const expiryDate = new Date(Number(year), Number(month) - 1, 1);
   const today = new Date();
+  today.setDate(1);
+  today.setHours(0, 0, 0, 0);
 
   const maxDate = new Date();
   maxDate.setFullYear(today.getFullYear() + 50);
+  maxDate.setDate(1);
+  maxDate.setHours(0, 0, 0, 0);
 
-  return expiryDate > today && expiryDate <= maxDate;
+  return expiryDate >= today && expiryDate <= maxDate;
 };
 
 export const validateCreditCardNumber = (cardNumber: string) => {