Hi,
With increase in funds requirement in Jan2018, I am stuck in a peculiar situation. We are family of three and funds requirement has increased from $18825 to $19092. I have one six month old FD which I will be using for POF, amounting to 19215 (converted from Indian Rupee to Dollars). My worry is, if there fluctuations in currency, then I don't have any funds to show for the fluctuated amount which are six month end.
I have following options for which I need your opinion.
1) I have one running account which has $2000-$2200(converted from Indian Rupee to Dollars) every month but I can't show them as six month old funds
2) I have PPF account which is 6 years old and has approx $16000. I don't think it can be used.
3) I have 3 year old Employee provident fund having approx $6000. $3000 are my part of salary and rest are of my employer.
I want to know which of these I can use as POF or can I use gift deed for some amount from my father if its three month old as POF.
Also, can three month old funds but less than four months be used as POF.
Awaiting your enlightenments!