What is the ruling on holding an annual commemoration for the deceased on the day of their death, involving slaughtering and reciting the Quran as a supererogatory act on their behalf?

The annual commemoration for the deceased, including gathering, celebrating, and holding banquets, is an innovation (bid'ah) that must be avoided, as it was not known to the righteous predecessors (Salaf Sālih). However, there is no objection to giving charity and supplicating for the deceased at any time, as scholars have agreed that the reward for these actions reaches them. Some scholars have also held that the reward for any act of obedience performed by the living and dedicated to the deceased reaches them.