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Provident Fund Money Issue
AOA,
I hope you all are doing well.
I have a major concern regarding the issue that happened within my organization with my peer.
There is a Provident Fund benefit in which 10% of your salary is deducted and saved with the company and the same 10% is added by the company which makes it 20%. This happens in every month’s salary.
Over the period of 5 years, a handsome amount is collected. There is a policy that if you stay in the company for more than 3 years, only then you can own the whole 20% otherwise you will get only yours 10% if you resign early.
Now my peer needed some amount to pay the down payment of the plot. He applied for the withdrawal of his collected Provident Fund from the company. His total balance was around 15 Lacs. In order to proceed, the company required an evidence that he will purchase plot with the amount of provident fund. He gave them an affidavit from the real estate dealer that 1 lac payment is pending with the client to register plot file. The company did not agreed to the withdrawal of 15 Lacs as only 1 lac was pending as per the affidavit. “He told them verbally that he will pay the rest of the amount of the plot as well in order to get withdrawal approval of 15 Lacs. (total value of plot is 22 lacs)”.
Now considering the following scenarios:
– Provident Fund is his money that is deducted every month and same is added by company.
– After down payment is done, he has to pay certain installment every month for that plot.
Question 1: What if he does not pay the whole withdrawal balance (15 Lacs) to the plot, only pays certain amount to the dealer and keeps the rest of provident fund money in his bank saving account and continues to pay monthly plot installments from his salary money. Then will it be Haram to do so? Will all charity or any good deed done from rest of provident fund money go all in vain?
Question 2: What if he does not pay the whole withdrawal balance to the plot, only pays certain amount to the dealer and keeps the rest in his bank account and continues to pay monthly plot installments from his salary money. And pays the huge amount to his another plot file from the Provident Fund money? Will it be wrong too?
He is an OCD / anxiety sufferer and need clarity on the above matter.
Thank you
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1 Reply
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Provident Fund Money Issue
updated 6 days, 10 hours ago
2 Members
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1
Reply
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Provident fund his own money and he can use it the way he desires. He needs not to specify each and every need in the affidavit.
Depositing money in the savings account and receiving profit on it is halal. It is not sood or Riba or interest.
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