Proof Of Funds

[qamarnajm]

Hi,

My labor contract with the company i work has expired and i am still working and being paid in good faith. I have convinced my company manager to give my settlement once i receive the ITA.

However, my Bank statements are not strong enough to prove it. My end of service amount is more than the threshold set by IRCC (around 27,000 CAD) If I receive the settlement funds when I get ITA, will it be acceptable as Proof of Funds in order to get through the whole PR process?

 

[NavjotS123]

prepare a gift deed that would suffice

 

[qamarnajm]

Thanks Navjot for the reply.
Unlike India, here in the UAE, there is no method for gift deeds.
May i ask - even if I make it a gift deed, my bank statement is reflecting bad. Will it make a difference?

 

[NavjotS123]

Thanks Navjot for the reply.
Unlike India, here in the UAE, there is no method for gift deeds.
May i ask - even if I make it a gift deed, my bank statement is reflecting bad. Will it make a difference?

Not at all. People have shown whole amount as gift-deed.

 

[rajapanesar]

Hi,

My labor contract with the company i work has expired and i am still working and being paid in good faith. I have convinced my company manager to give my settlement once i receive the ITA.

However, my Bank statements are not strong enough to prove it. My end of service amount is more than the threshold set by IRCC (around 27,000 CAD) If I receive the settlement funds when I get ITA, will it be acceptable as Proof of Funds in order to get through the whole PR process?

Get a certificate in the meantime saying that you have "this much amount" saved in your name with "this company" and will be paid to you upon termination of employment. In India, we have an Employee's Provident Fund where a part is paid by the employee, and an equal part by the employer and is saved in EPF account under employee's name. Account statement for the same is available, and this amount is paid to the employee when in need (by application), termination, or retirement, whichever the case. Many people that I know have used this successfully. You should try the same.
They are your funds, should have been saved under your name. Get a certificate.