Regarding POF?

[akila868]

Hi all,

Need some advice on the following,

Once I get the ITA I am hoping to give the POF as below,

1. Provident Fund (maintained by the company I work for)
- What do I need to take as documents. Maybe a confirmation letter from HR?

2. Provident Fund of my wife (with the Government)
- Government provides a letter for this. Is this sufficient?

3. Fixed Deposit (Joint with myself, wife and my mother) - will be removing my mother as joint holder on 31.10.2017. Wife is accompanying me.
- Will this be a problem? since it was joint with my mother prior to removing her.
- I added her to get a visit visa to NewZeland for her, as show of funds. Do I need to mention this in the LOE?

4. Funds available in my Savings account
- This is a cash build up account. I send a standing order every month. On 03.10.17, I credited my Trust Fund money (obtained from the Government) to this account. How to show these funds?

Do I need to mention anything in the LOE regarding all of the above?

 

[superspecial90]

Hi all,

Need some advice on the following,

Once I get the ITA I am hoping to give the POF as below,

1. Provident Fund (maintained by the company I work for)
- What do I need to take as documents. Maybe a confirmation letter from HR?

2. Provident Fund of my wife (with the Government)
- Government provides a letter for this. Is this sufficient?

3. Fixed Deposit (Joint with myself, wife and my mother) - will be removing my mother as joint holder on 31.10.2017.
- Will this be a problem? since it was joint with my mother prior to removing her.
- I added her to get a visit visa to NewZeland for her, as show of funds. Do I need to mention this in the LOE?

4. Funds available in my Savings account
- This is a cash build up account. I send a standing order every month. On 03.10.17, I credited my Trust Fund money (obtained from the Government) to this account. How to show these funds?

Do I need to mention anything in the LOE regarding all of the above?

1. Any financial statement should be from the 'organization' that is holding the fund. In your case, if the fund is held by the employer, then they can write the letter with all required information mentioned by CIC. If your employer is maintaining the fund with a financial institution, the letter must come from that organization.
2. Same rule as #1. The letter must come from the institution that holds the fund, not one that is arranging it.
3. An FD statement will suffice. You do not need to write any LOE for this. FD statement is most commonly used POF and usually, CIC never bothers about the source or history of the fund. In the extreme case, if they do inquire, you can write an explanation along with previous statements of the account. It will never be an issue. My brother applied with an FD statement (he has several loans with several banks) that he created on the day of submitting his application and CIC never even checked it with the bank.

 

[akila868]

1. Any financial statement should be from the 'organization' that is holding the fund. In your case, if the fund is held by the employer, then they can write the letter with all required information mentioned by CIC. If your employer is maintaining the fund with a financial institution, the letter must come from that organization.
2. Same rule as #1. The letter must come from the institution that holds the fund, not one that is arranging it.
3. An FD statement will suffice. You do not need to write any LOE for this. FD statement is most commonly used POF and usually, CIC never bothers about the source or history of the fund. In the extreme case, if they do inquire, you can write an explanation along with previous statements of the account. It will never be an issue. My brother applied with an FD statement (he has several loans with several banks) that he created on the day of submitting his application and CIC never even checked it with the bank.

Thanks friend for the reply. Really appreciate it. Did your brother mention anything about the Loans?

How about the 4th one?

 

[superspecial90]

Thanks friend for the reply. Really appreciate it. Did your brother mention anything about the Loans?

How about the 4th one?

No, he did not mention anything about the loans! Not at all!

Oh, yes, you can simply produce a statement for the saving account as POF.
POF can be from as many accounts as you need to make up the 'minimum fund requirement' set by CIC.

 

[akila868]

No, he did not mention anything about the loans! Not at all!

Oh, yes, you can simply produce a statement for the saving account as POF.
POF can be from as many accounts as you need to make up the 'minimum fund requirement' set by CIC.

Once again thank you so much.

 

[superspecial90]

Once again thank you so much.

You are welcome, mate.
Don't worry too much about the POF.
Keep it simple (if possible try to cover it in one statement) and you will be fine.
I have never heard anyone have an issue because of POF.

Good luck!