Principles
The Shulkhan Arukh states that when a Jewish woman gives birth to a firstborn male by natural means, then the child must be "redeemed". The father of the child must "redeem" the child from a known Kohen representing the original Temple priesthood, for the sum of five silver Shekels, or equivalent in country's currency (if it has silver currency of the correct weight). The procedure does not apply when the father is a Kohen or Levite, and does not normally apply when the mother is the daughter of one.
This redemption ceremony is performed when at least thirty days have passed since the child's birth. If the 31st day falls on Shabbat or a festival, the redemption is delayed, because any sort of business transaction is not allowed on those days. These days are counted from sunset to sunset, and the day of birth counts as the first day. While the redemption could be performed immediately after dark on the 31st night, it is usually done the next day; but if the 31st day is a fast day, it is done the previous night, so that it can be accompanied by a festive meal. It is also possible to hold the ceremony on the 30th day itself, if it will be impossible to perform it the next day, so long as at least one Synodic month (29 days, 12 hours, 44 minutes, and 2.9 seconds) has passed since the moment of birth.
Read more about this topic: Pidyon Haben
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—David Hume (1711–1776)