The third pillar of Islam is Zakat. Zakat is characterized by the fact that this is an act of worship for Allah who must benefit society. The poor have a right to a part of the wealth of the rich. Allah gives us material wealth and obliges us to share it with others at the same time. We collect and give Zakaat to those who are most in need.
We are strengthening solidarity by overcoming social inequalities. Zakat cleans our property and our hearts. Unlike charity, giving Zakat is a religious duty. It is determined by Allah who is responsible for giving Zakat, who will receive Zakat and how to calculate the Zakat.
Anyone without mentally limitation is giving Zakat an obligation for those who have a nishaab. If your assets exceed your nishaab in one year, you should give 2.5 percent of this capacity to those in need. If the above applies to you, you must donate a certain amount of your property to the needy once a year.
It is prescribed by Allah who may receive Zakat:
Zakat is for the poor and for the needy and for those employed to collect (Zakat). And for those whose hearts will be brought together (for Islam) and for slaves and for those in debt and for (those) on the Way of Allah and for the travelers - an obligation by Allah. And Allah is All-Knowing, All-Wise
Al-Quran: Surah At-Tawbah, verse 60
You can determine the payment date yourself. The most important thing in the Zakat calculation is the Islamic year. That is 354 days. Please note that special days such as a holiday or a birthday can be held to pay your Zakat, to remember the date. Many of us pay Zakat during Ramadan.
Fidyah is the compensation paid to save someone from his difficult situation. As a religious term, it refers to the material price paid to eliminate some imperfections committed during the pilgrimage or because of the inability to perform the fasting.
For those who are capable of fasting (but still do not fast) there is a redemption:feeding a needy man for each day missed.
(Surah Al-Baqarah, verse 2/184)
So if someone who cannot fast because of old age and ungeniable illness and cannot catch up with these days, he pays for every missed day Fidyah.
(Serahsî, el-Mebsût, III, 100; İbn Kudâme, el-Muğnî, IV, 395-397).
Complete Hajj and 'Umrah for Allah. And if you are prevented from doing so, then make the offering which is available to you, and do not shave your heads until the offering reaches its appointed place If any of you should have to shave your head before that because of illness, or injury to the head, then you should make redemption by fasting, or almsgiving, or ritual sacrifice.
(Surah Al-Baqarah, verse 2/196)
1 Fidyah, is the amount of food that a person will feed or price a day.This is equivalent to sadaqah-u fitr..This is the minimum size of Fidyah. Whoever voluntarily does more good than is required, will find it better for him; and that you should fast is better for you, if you only know
(Surah Al-Baqarah, verse 2/184; Merğînânî, el-Hidâye, II, 270)