As one studies details in depth, one finds that religion as a whole does not teach cynic attitudes towards worldly life. However, it does teach its followers not to become the worshiper of the world around. A universal teaching, which is common in all religions is preaching of charity and alms; giving away to other less fortunes in the society. All religions demand followers to remain humane and beneficent to others, in all circumstances. Ethics that molds human mind to help and serve others, seems to be the pivotal in all basic teachings of religion. Unfortunately, the religious teachings have been considered to focus on morality of life-hereafter only. The following study will explore the teachings of major world religions that promote welfare, happiness, comfort, prosperity of a society, through its socio-economic ethics. It also contains analytical research along with its socio-economic impacts on society regarding practical enforcement of teachings related to charity and alms adduced in Judaism, Christianity, Islam, Hinduism, Sikhism, Buddhism, Jainism, Zoroastrianism, Confucianism and Taoism respectively.