I hear both the expressions:
- I am passing my life helping others.
- I am passing my life by helping others.
Do the both carry equivalent meaning ? Please explain.
They are both correct and they both mean the same thing.
However, I would use "spending" or "living" instead of "passing".
In this context, "passing" actually makes me uncomfortable - I cannot explain why. Maybe another friend can help. Guess: similarity with "to pass away".
As @whiskeychief point out in the comments:
You can “pass the time”, “pass the hours” or “pass the summer”, but I don’t think you can “pass your life.” It’s not idiomatic.