zakaat for Providend Fund, half of which is deducted from my salary every month and half is paid by the company itself.This money does not come in my hand
I am having question regarding zakaat for Providend Fund, half of which is deducted from my salary every month and half is paid by the company itself.This money does not come in my hand. Although I can get the money at the end of my service or if I change the company. Also I can take a loan from that money or I can take out a part of that money too. So kindly guide me whether I need to pay zakaat on that money now? Also if yes, since this is incremental every month so the money deposited last month will not have completed a year so how do I calculate?
Secondly I am newly marriage just two months back, so do I have to pay zakaat for my wife's ornament this year only or should I wait for a year to complete?
Thirdly regarding this site, whenever the replies of the post are big, the site does not display the whole reply instead it shows incompletely.
There are two portions to the provident fund, your contribution and the company's contribution. If your contribution is voluntary, you will have to pay zakaat on that amount. You may pay the zakaat now or when you get paid out. There is no zakaat due on the company's portion of the provident fund.
We do not know what you mean by ornament. If by that you mean gold and silver jewelry, then if one year has passed over the jewelry then zakaat will be due on her. You may her zakaat with her consent.
We will forward your complaint to our IT department.
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai
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