Business and Dealings

Taking rent from a property that one had gifted to his children

Q: Please can you clarify the issue of gifts in the format of property.

A man in my city has divided 3 flats in the name of 6 children in his lifetime but the flats are in the name of 2 children۔ In addition, he still extracts rent from each flat. These 'gifts' are meant to be taken upon his death until which he continues to take until his demise. (ie avoiding laws of inheritance completely). 

He has 4 daughters and 2 sons. Is this jaiz? He is a nice man, but unfortunately this decision is more like a contractual gift, which may make him questionable on Judgement Day.

Kindly advise what is the truth. This conditional mentality regarding wealth pervades in certain communities here.

Withdrawing from a mandatory provident fund

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.