Page 19 - Obligatory Zakat Made Easy

ZAKAT ON EPF & LTAT

Definition

The Employees Provident Fund (EPF) & the Armed Forces
Fund Board (LTAT) are savings made by individuals
during their period of service and they satisfy all the
required conditions of zakat except for "full ownership",
which will be fulfilled once the money is withdrawn from
the EPF & LTAT.

Calculation Method

Calculations of EPF & LTAT Zakat
Amount of EPF/LTAT withdrawn x 2.5%
= RM100,000.00 x 2.5%
= RM2,500.00

Contributors who retain their savings in the EPF although
they are permitted to make withdrawals upon reaching the
age of 50 or 55 will be charged zakat on such retained
savings. Savings maintained in the EPF/LTAT are
considered as savings zakat for the following years.

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