Paying Zakaah on jewelry.
Q. Do you have to pay Zakaah on your Jewelry separate from your normal Zakaah? How do I calculate what my Zakaah should be? How am I sure I am paying the right amount of Zakaah? I usually take two and a half percent of my salary every month towards Zakaah is this right?
A. Besides paying Zakaah on your cash money/savings etc. you will also be required to pay Zakaah on your jewelry.
With respect to your gold jewelry, you must get it weighed by a jeweler to see what is the weight of all the gold jewellery you possess. If the jewellery weigh 2.8 oz./87.5 grms. or more, then it means that you have the Nisaab for raw gold and hence, you must now pay Zakaah upon it. If the jewelry/jewelries weigh less than 2.8 oz. or 87.5 grms, then you will not be required to pay Zakaah (on this jewelry) since it has not reached the Nisaab of gold.
If you are required to pay Zakaah on the jewelry (due to the fact that it has reached the Nisaab) then you will find out the total weight of gold which is in the jewelry, and then pay two and a half percent of it’s value in Zakaah.
For example, if the total weight is four ounces then you will multiply four by the cost of one ounce of gold. After this, you will pay two and a half percent of the total amount. Once you pay in this manner, then it will be the right amount that you are paying.
Taking out 2 ½ percent every month from your salary as Zakaah is not the manner that should be adopted. Zakaah is compulsory once per year on your savings and not on your income. The savings must reach the Nisaab of silver (in the case of cash /money) and having reached the Nisaab, one year should pass over the savings.
Based on this explaination, you should stop paying Zakaah of 2 ½ percent from your salary every month and instead, pay it only upon your savings at the end of a year (from the time when you become the owner of a Nisaab).
And Allah knows best.
Mufti Waseem Khan