I have recently withdraw the provident fund from my company. I got the cumulative amount (my contribution as well as the company contribution). I want to know that how should I pay zakah on it, considering the amount I got is more than the nisab. Do I have to pay zakah as soon as I receive money or should that money has to be under my possession for the next 1 year?
بسم الله الرحمن الرحيم
(Fatwa: 759/660/D=10/1437)
If you are already sahib-e-nisab then when the year completes and zakah becomes wajib on you, you will have to pay the zakah of your PF at that time, it is not necessary to complete one year on PF separately.
Allah knows Best!
Darul Ifta,
Darul Uloom Deoband