Annual Zakat On Savings In Addition To Zakat On Production?
I understand for salaried individuals 10% earnings Zakat is due on each paycheck or it can be defer in lump sum once in a year at 10% of total earnings. What about savings/assets Zakat at 2.5%? Let say 10% earnings Zakat of 10K from 100K annual salary paid on each paycheck and now on completing a year, the total amount left in bank account is 90K. So, now individual also have to pay 2.5% savings/assets Zakat on remaining 90K?