Dear Nusrat Assalamo Alaikum!

May Allah keep all of you happy and healthy, Amen!

Please read the answers (in italics) of your points under each one of them:

nusrat zahiruddin <[email protected]> wrote:

Assalam Alaikum,

 

Last year I had asked you about the mode of payment of Zakat on our contributory funds (that we receive at the time of retirement / or the spouse gets it in case of death). You had answered that it can be paid in either ways i.e. either at the time of receiving it in case of retirement or it can be paid yearly. However, there is a risk that in case of death if the spouse gets it and she does not pay zakat on the amount the sin (GUNAAH) will be accounted on us.

It is then better to go on paying your zakat in your lifetime.

 

Now, I have this query:  say in a particular year, my accumulated CPF (contributory provident fund) amount is Rs. "X" and I pay zakat on that amount; and then next year the accumulated CPF amount is Rs. "X + Y" then do I have to pay Zakat on the total "X + Y" or only on Rs. "Y"?

You have to pay zakat on total X+Y, because Islam discourages amassing the wealth. In principle, if the amount at the beginning date fulfils the minimum Nisab of zakat and at the end date it still satisfies the Nisab, then zakat is due on the total asset, no matter how much was added in between.

 

Similarly, do we need to pay the zakat on "Share and mutual funds" at the time of sale or every year and the same query arise  i.e. at the incremental value over the previous year or the total value. 

Yes, zakat is payable on the shares and mutual funds holdings. Suppose at the beginning date your total asset was X.  During the past year, you got Y as dividend or redemptions (if you have spent it), and you have added Z to your funds from your other resources, then your total worth W at the time of zakat (i.e. at the end of the year) = present worth of shares and mutual funds +Y - Z, i.e. W = P +Y-Z. Then each year, you have to pay zakat on (W-X).

Hope this answer is sufficient for you.

Allah knows the best. Wassalam

 

Syed Hasanuddin Ahmad