Parsva Ekadashi (also known as Parivartini or Jayanti Ekadashi) falls in the Shukla Paksha of Bhadrapada month. 'Parsva' refers to side, as on this day, the Supreme Lord Vishnu, sleeping in the milk ocean, turns over from His left side to His right side. Devotees celebrate this sacred transition with intense prayers and special worship of Lord Vamana, His dwarf incarnation.
Lord Krishna narrated the glory of this day to King Yudhisthira, sharing the story of the glorious demon King Bali Maharaja. Bali was a grandchild of Prahlada Maharaja and was extremely powerful. He conquered all three worlds, displacing Indra and the demigods. Despite being a demon, Bali was renowned for his truthfulness, charity, and respect for Brahmins.
To help the displaced demigods, Lord Vishnu appeared as Lord Vamana, a beautiful dwarf Brahmin, and walked into Bali's yajna arena. Vamana requested only three paces of land in charity. When Bali agreed, Vamana expanded His form to cosmic size, covering the earth with His first step, the heavenly planets with His second step, and leaving no place for the third.
True to his word, Bali Maharaja offered his own head for the third step. Pleased by Bali's absolute surrender, Lord Vamana blessed him, named him a pure devotee, and promised to guard his doorway in the Sutala realm. Because this cosmic event occurred around Parsva Ekadashi, observing this fast is highly praised for granting complete surrender and Vaisnava qualities.