Fatwa #4168323 April 2019Pakistan
Provident fund
Question
Assalamu-Alaikum,
i am working in an multi national company, here company has an policy name "Provident Fund " in which some amount is deducted every month from my salary, and same amount is added by the company and then they invest that money in some business, which business, i don't know, according to this policy, at me retirement company will grant me all the profit they earned from that investment, so i want to clear that is that halal or not?
thank you,
Answer
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.
Kindly provide further details of the provident fund in reference. Is the pension scheme above compulsory?. Do you have a choice in where the money is invested? You may revert to us at admin@daruliftaa.net.
And Allaah Ta’aala Knows Best.
Muajul I. Chowdhury
Student, Darul Iftaa
Astoria, New York, USA
Checked and Approved by,
Mufti Ebrahim Desai.