PROVIDENT FUND pdf download

Book Title	Provident Fund
Book Author	No authors or tags found.
Total Pages	34
Book Views
Language	English
Book Download	PDF Direct Download Link
Get Hardcover	Click for Hard Similar Copy from Amazon

Provident Fund by Shaykh Mufti Muhammad Shafi

PROVIDENT FUND

Issue of zakat on provident fund

It is obvious that the amount of provident fund deducted from the salary of the employee is a part of his salary which has not been paid to him.

As such the department (or employer) is liable to pay this amount to the employee.

In respect of Zakat, fuqaha have divided into three categories the amounts which are called receivables. Some of these attract Zakat while others do not.

Let us examine the types of receivables which attract zakat and then only can we decide if the accumulated amount of the provident fund (being a receivable for the employee) does or does not attract zakat Receivables have been classified in the following manner by fuqaha:

These are receivables in respect of any goods in trade.

E g. if A sold some merchandise to B on a deferred payment basis, then until such time that B settles the debt, a dain-e-Qavi is due to A from B.

In respect of such receivables, the lender (in this case A who sold the goods on a deterred payment basis remain liable for Zakat for the period during which the payment from B was outstanding.

Upon receipt of payment from B, A will have to pay zakat for the period for which the amount remained due.

A loan in terms of any currency is also considered a Dain-e-Qavi.

To read more about the Provident Fund book Click the download button below to get it for free