Q: I have subscribed for GPF. The government forcefully deducts some amount like 5k each month. At the end of retirement, govt. will return that principle amount and the amount of interest over it.
Can I keep some amount of interest money equivalent to the money devaluation I faced over the years ?
Q: Please help with the following:
1. Compulsory company provident fund cover in the event of death, disability, retirement, dismissal, resignation. Is it halaal or haraam?
2. Liberty Life, Life Cover. Is it halaal or haraam?
3. Sanlam Retirement Annuity. Is it halaal or haraam?
Q: I am working in a company where we have a provident fund facility. I wanted to take some amount from my PF Account. In case of temporary withdrawal, the company will charge a certain % as loss of interest. Can I borrow this amount from my PF account? The purpose of borrowing is making investing in some areas.
Secondly, the company always gives interest on our PF balance on annual basis so would it be jaiz for us since this activity of fund and participating in fund is mandatory. The decision of investing PF fund is also with trustees of fund and not with us.
Q: I have a saving dividend (interest money) with my provident fund and will receive it when I resign or retire. Without expecting reward from Allah Subhanahu wa Ta'ala, may I donate the money to needy people from my current income?
Q: I am employed in the motor vehicle industry. Is it permissible to contribute towards a provident fund? The employer contributes 8% of the monthly salary, and 7,5% is deducted from my salary.
س: کیا فرماتے ہیں علماء دینِ متین کہ پراویڈنٹ فنڈ کی مروجہ کٹوتی جائز ہے یا نہیں ؟
Q: Is it permissible to apply for an old age state pension? What is the Shari’ah ruling in this regard?
Q: Is it haraam to earn a pension fund and to draw unemployment fund which was partly contributed from your own salary and partly from the company you work at?
Q: Our company has a pension fund that has various portfolios options of which one is a shariah compliant option. The problem is that the fund is loosing so much on my money monthly. Do you continue loosing money or place it in a safe interest bearing portfolio?
Q: Is Retirement Funds /Provident Funds etc.for Islamic Institutions towards Imams/Islamic Teachers/Muezzins/Apas permissible In Islam. Not forgetting elements of interest or their funding partners whether Halaal.