Fatwa: # 41683
Category: Business Matters
Country: Pakistan
Date: 23rd April 2019

Title

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.

DISCLAIMER - AskImam.org questions
AskImam.org answers issues pertaining to Shar'ah. Thereafter, these questions and answers are placed for public view on www.askimam.org for educational purposes. However, many of these answers are unique to a particular scenario and cannot be taken as a basis to establish a ruling in another situation or another environment. Askimam.org bears no responsibility with regards to these questions being used out of their intended context.
  • The Shar's ruling herein given is based specifically on the question posed and should be read in conjunction with the question.
  • AskImam.org bears no responsibility to any party who may or may not act on this answer and is being hereby exempted from loss or damage howsoever caused.
  • This answer may not be used as evidence in any Court of Law without prior written consent of AskImam.org.
  • Any or all links provided in our emails, answers and articles are restricted to the specific material being cited. Such referencing should not be taken as an endorsement of other contents of that website.
The Messenger of Allah said, "When Allah wishes good for someone, He bestows upon him the understanding of Deen."
[Al-Bukhari and Muslim]