Providence funds and retirement accounts : provident fund

Fatawa Question

Dear Brother AssalamuAlaikum : Hope you are fine. I come up with a question. Please find some time to answer these questions. Situation : provident fund (PF) has two parts, firstly $ 100 is taken from my salary another $ 100 is provided from company. Now the company invests the total $ 200 in govt treasury which is interest base transaction. Question 1 : now is it Halal to take the full $ 200 that deposited for me from the company while I left the JOB or I can take only $ 100 which is deducted from my salary ? Question 2 : I have to provide Zakah once while the full money will be handed over. Now shall I provide Zakah on full $ 200 or only my portion $ 100 ? Between I know a rule about money that, “when hand changes rule changes” (reference alKauthar course, course name : pillars of mercy). I am trying to remove from interest based activity. And now I am in a state of confusion about the above two questions. Please let me know with authentic rulings InShaAllah. Jazak Allah Khairan Syed

Fatwa

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Publication Date

2012-12-12

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Savings

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-730403

• APA
• MLA
• AMA