Title: Regarding Zakah

Question: (1) In July 2011, I had 1 lakh rupees in my account on which zakah was given and were then spent by me. Again in July 2012 I have 1 lakh rupees in my account which I got 6 months back .Do I have to pay zakah on this money this year? (2) What is the zakah on provident fund contribution which I cannot withdraw before 60 years, but the compulsory contribution to provident fund is being done by me every month from my salary? (3) I invest money every month in Shariah complying funds and I can withdraw this money any time but I wish to withdraw it after 10-15 years, so how to calculate zakah on this as money is still not in my hands but it is earned by me every month? (4) What to do with the interest which banks give on saving account i.e. give to whom?

Answer ID: 40970Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 1423/L=521/TL=1433) (1) After paying the zakah of first year if there were one lakh rupees in your account then the next year too zakah shall be wajib on this amount though this amount was received to you after six months. (2) Right now there is no zakah on PF. After sixty years when you will receive this amount then zakah shall be wajib on it provided the conditions which make zakah wajib are available. (3) Get the details of the capital amount and profit whatsoever and pay your zakah accordingly. (4) The ruling of interest money is that it should be given in charity to the poor and needy ones without the intention of reward.