Soak the saffron in milk and leave it for 25-30 minutes.
In a microwave safe bowl, heat the condensed milk and butter for 3 mins.
It will be bubbly.
Add carnation milk powder and heat for another 3 mins.
Add the saffron paste, elaichi powder and heat it for another 35-45 seconds.
Allow to cool. While its still warm start shaping it in thick flat rounds and immediately press a few slivered almonds on it before shaping another pedas as the almonds will not stick once the pedas cool down.
Cool it in a plate.
After completely cooled, they can be refrigerated for a long time.