Question:Zakat is due on receipt of PF(on retirement/ taken loan against PF) or treated as assets(e.g. treated as saving in the custody of the employer).It is a common argument against PF funds being not in the possession that is in case of loan given by person is not in possession of that person, but he is liable to pay zakat thereon.
(2) Zakat is payble annually or when it is received and remain unutilized for one years.
(3) Zakat to be calculated based on number of years on amount in PF or only for the years of receipt on the unutilized amount.
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It is amount which is considered as a part of salary and paid on retirement,it falls in such kind of debt on which Zakat is not payble by sharia point of view.
