diff --git a/src/components/ToggleSwitch/__test__/ToggleSwitch.spec.tsx b/src/components/ToggleSwitch/__test__/ToggleSwitch.spec.tsx
new file mode 100644
index 00000000..249c06ac
--- /dev/null
+++ b/src/components/ToggleSwitch/__test__/ToggleSwitch.spec.tsx
@@ -0,0 +1,62 @@
+import React from "react";
+import { render } from "@testing-library/react";
+import { ToggleSwitch } from "..";
+import userEvent from "@testing-library/user-event";
+
+describe("ToggleSwitch Component", () => {
+    it("should renders with correct value passed as prop", () => {
+        const { getByRole, rerender } = render(<ToggleSwitch value={true} />);
+        const toggleSwitch = getByRole("checkbox");
+        expect(toggleSwitch).toBeChecked();
+        rerender(<ToggleSwitch value={false} />);
+        expect(toggleSwitch).not.toBeChecked();
+    });
+
+    it("should be set to false when no value prop is provided", () => {
+        const { getByRole } = render(<ToggleSwitch/>);
+        const toggleSwitch = getByRole("checkbox");
+        expect(toggleSwitch).not.toBeChecked();
+    });
+    it("should update the value when user clicks on it", async () => {
+        const { getByRole } = render(<ToggleSwitch/>);
+        const toggleSwitch = getByRole("checkbox");
+        expect(toggleSwitch).not.toBeChecked();
+        await userEvent.click(toggleSwitch);
+        expect(toggleSwitch).toBeChecked();
+    });
+
+    it("should call the onChange prop when user clicks on it", async () => {
+        const mockedOnChange = jest.fn();
+        const { getByRole } = render(<ToggleSwitch onChange={mockedOnChange} />);
+        const toggleSwitch = getByRole("checkbox");
+        await userEvent.click(toggleSwitch);
+        expect(mockedOnChange).toHaveBeenCalled();
+    });
+
+
+    it("should apply wrapperClassName and className correctly", () => {
+        const { container } = render(
+            <ToggleSwitch
+                wrapperClassName="wrapper-class"
+                className="custom-class"
+            />
+        );
+        const wrapper = container.querySelector(".deriv-toggle-switch.wrapper-class");
+        expect(wrapper).toBeInTheDocument();
+        const input = wrapper?.querySelector("input");
+        expect(input).toHaveClass("custom-class");
+    });
+
+    it("applies wrapperStyle and style correctly", () => {
+        const { container } = render(
+            <ToggleSwitch
+                wrapperStyle={{ backgroundColor: "red" }}
+                style={{ fontSize: "16px" }}
+            />
+        );
+        const input = container.querySelector(".deriv-toggle-switch input");
+        expect(input).toHaveStyle({ fontSize: "16px" });
+        const label = input?.parentElement;
+        expect(label).toHaveStyle({ backgroundColor: "red" });
+    });
+});
diff --git a/src/components/ToggleSwitch/index.tsx b/src/components/ToggleSwitch/index.tsx
index ebdebe6a..97bba2b9 100644
--- a/src/components/ToggleSwitch/index.tsx
+++ b/src/components/ToggleSwitch/index.tsx
@@ -1,11 +1,11 @@
-import React, { ChangeEvent, forwardRef } from "react";
+import React, { ChangeEvent, forwardRef, useEffect, useState } from "react";
 import clsx from "clsx";
 import { Input } from "../Input";
 import "./ToggleSwitch.scss";
 
 interface ToggleSwitchProps {
-    onChange: (event: ChangeEvent<HTMLInputElement>) => void;
-    value: boolean;
+    onChange?: (event: ChangeEvent<HTMLInputElement>) => void;
+    value?: boolean;
     wrapperClassName?: React.ComponentProps<typeof Input>["wrapperClassName"];
     className?: React.ComponentProps<typeof Input>["className"];
     wrapperStyle?: React.CSSProperties;
@@ -14,22 +14,44 @@ interface ToggleSwitchProps {
 
 export const ToggleSwitch = forwardRef<HTMLInputElement, ToggleSwitchProps>(
     (
-        { onChange, value, wrapperClassName, className, wrapperStyle, style },
+        {
+            onChange,
+            value = false,
+            wrapperClassName,
+            className,
+            wrapperStyle,
+            style,
+        },
         ref,
-    ) => (
-        <label
-            className={clsx("deriv-toggle-switch", wrapperClassName)}
-            style={wrapperStyle}
-        >
-            <input
-                checked={value}
-                onChange={onChange}
-                ref={ref}
-                type="checkbox"
-                className={clsx(className)}
-                style={style}
-            />
-            <span className="deriv-toggle-switch__slider" />
-        </label>
-    ),
+    ) => {
+        const [isChecked, setIsChecked] = useState<boolean>(value);
+
+        useEffect(() => {
+            if (value !== undefined) {
+                setIsChecked(value);
+            }
+        }, [value]);
+
+        const onClickHandler = (event: ChangeEvent<HTMLInputElement>) => {
+            setIsChecked(!isChecked);
+            onChange?.(event);
+        };
+
+        return (
+            <label
+                className={clsx("deriv-toggle-switch", wrapperClassName)}
+                style={wrapperStyle}
+            >
+                <input
+                    checked={isChecked}
+                    onChange={onClickHandler}
+                    ref={ref}
+                    type="checkbox"
+                    className={clsx(className)}
+                    style={style}
+                />
+                <span className="deriv-toggle-switch__slider" />
+            </label>
+        );
+    },
 );
diff --git a/stories/ToggleSwitch.stories.ts b/stories/ToggleSwitch.stories.ts
index 21d402c3..e688a354 100644
--- a/stories/ToggleSwitch.stories.ts
+++ b/stories/ToggleSwitch.stories.ts
@@ -5,6 +5,7 @@ import { ToggleSwitch } from "../src/components/ToggleSwitch";
 const meta = {
     title: "Components/ToggleSwitch",
     component: ToggleSwitch,
+    tags: ["autodocs"],
     args: {
         onChange: action("ToggleSwitch changed"),
         value: false,
@@ -22,9 +23,3 @@ export const Default: Story = {
     },
 };
 
-export const Checked: Story = {
-    args: {
-        ...Default.args,
-        value: true,
-    },
-};