Q: Is zakaat waajib on the payout received from a provident-fund, pension-fund or retirement-fund?

On Mon, Jul 22, 2013 at 5:51 AM, Iqbal Shaikh <shaikh.iqbal9999@yahoo.com> wrote:

 

Q: Is zakaat waajib on the payout received from a provident-fund, pension-fund or retirement-fund? This entry is part 24 of 37 in the series Zakaat Masaail
A: If the employee willfully invests his money in the fund or commanded the company to invest it on his behalf or consented to the investment, then in all these situations zakaat will be waajib on the payout received. Zakaat will be waajib for the current year as well as the previous years. However, if the employer deducted a certain percentage of the employee's salary without his consent, then zakaat will not be waajib on the payout received for the previous years.
Answered by:
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)

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