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Element_input_validation formula to validate the effective_date of the ICP

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I have a complex Element which is linked to an ICP and I would like to validate the effective_date of this ICP to make sure that it is captured on the 1st of a month. Does anyone know how to do this?

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inputs are entry_value(date),

quarter (text),

total_overtime_hours_for_month (number),

number_of_overtime_hours_to_cover_staff_on_leave (number),

number_of_overtime_hours_to_cover_one_off_project (number),

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