It is considered by tradition to be an obligatory [Wajib - prayer, though technically it is an optional prayer with the injunction that it is preferable to offer even if optional (Sunnat-e-Muakkadah)]. This prayer is Sunnat during the period of occultation of the Imam-e-Zamana (a.s.).
Ghusl (Purification Bath) on Eid day is sunnat, which should preferably be taken under a shelter and not under the open sky.
Before offering Eid prayers it is recommended to have a breakfast of dates. The specified time of Eid prayer is between sunrise and the sun's initial decline (Zawal). If this prayer happens to be missed it cannot be offered late as 'Qaza'. Women are exempted from this prayer. The Prayer of Eid-ul-Fitr can be performed individually if one has missed the Jama'at.
It is 'Mustahab' (recommended) to offer Eid prayers with two Kutbas.
Takbir before Namaz-e-Eid: "Allaaho Akbar, Allaaho Akbar, Laa Ilaaha Illallaah Wallaaho Akbar, Allaaho Akbar, Wa lillaahil Hamd. Alhamdulillah Alaa Maa Hadaanaa Walahu Shukr Alaa Maa Aulana."
The meaning of the above is: Allah is Greatest, Allah is Greatest there is no one worthy of prayer but Allah, and Allah is Greatest; Allah is Greatest, and all Praise is for Allah. All Praise is for Allah, for that which He has guides us and for Him is thanks for what He has."
This prayer consists of two Rakats. Niyyat (Intention) should be in these words: "I resolve to offer two Rakats Namaz-e-Eid, Sunnat Qurbatan Ellallah". This should be followed by "Takbir" (Allah-Ho-Akber). In the first Rakat after Sura 'Al-Hamd', recite Sura 'Ala' or The Most High. Then five times Dua-e-Qunoot, followed by Ruku and then Sajda. Then up again for the second Rakat. In the second Rakat after Sura 'Al-Hamd' recite Sura 'Shams' or The Sun and four times 'Dua-e-Qunoot'. After this the namaz should be completed like the Morning Prayer.