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Monday, June 8, 2009

Zakaat on Provident Fund

Q: Does one have to pay Zakkah on your provident fund? If so how will one calculate this amount?

There is no Zakaat on a provident fund, for this money only becomes the property of someone when it is paid out. Prior to that it remains the property of the company for which one works.
And Allah Knows Best.

Mufti Siraj Desai