Proof of fund

[ksbaboo]

Hi,

If there is some amount shortage of required funds($11,824),Can I Show my Provident fund balance statement while applying for FSW 2014,
Will this be considered? Please advise.

 

[future_canadian]

Hi,

If there is some amount shortage of required funds($11,824),Can I Show my Provident fund balance statement while applying for FSW 2014,
Will this be considered? Please advise.

If you can withdraw it whenever you want and get cash, then yes. Settlement funds must be liquid and unencumbered.

 

[msaeed]

Hi,

If there is some amount shortage of required funds($11,824),Can I Show my Provident fund balance statement while applying for FSW 2014,
Will this be considered? Please advise.

Sir

NO

Stay Blessed

 

[Saps]

Hi,

I have a similar question wrt Proof of funds. As we don't necessarily park money in Savings accounts and have invested in properties, we are now in a dilemma wrt to what to show as proof of funds... We (my husband and I) have substantial amount in our provident funds, for which we are able to download the PF statements. As per the Govt of India EPFO office this fund can be withdrawn on leaving job (which would be the case when u are immigrating) and same would be settled in approximately a month's time without tax deductions as the PF is accumulated on continuous work for more than 5 years.

In that case, doesnt this fall under the category of unencumbered proof of funds?

 

[mjoshi10]

Hi,

I have a similar question wrt Proof of funds. As we don't necessarily park money in Savings accounts and have invested in properties, we are now in a dilemma wrt to what to show as proof of funds... We (my husband and I) have substantial amount in our provident funds, for which we are able to download the PF statements. As per the Govt of India EPFO office this fund can be withdrawn on leaving job (which would be the case when u are immigrating) and same would be settled in approximately a month's time without tax deductions as the PF is accumulated on continuous work for more than 5 years.

In that case, doesnt this fall under the category of unencumbered proof of funds?

Yes it Does
but send that statement + Copy of circular of Govt. Of India stating the finds can be withdrawn after leaving the job.
I think that would suffice !

 

[msaeed]

Hi,

I have a similar question wrt Proof of funds. As we don't necessarily park money in Savings accounts and have invested in properties, we are now in a dilemma wrt to what to show as proof of funds... We (my husband and I) have substantial amount in our provident funds, for which we are able to download the PF statements. As per the Govt of India EPFO office this fund can be withdrawn on leaving job (which would be the case when u are immigrating) and same would be settled in approximately a month's time without tax deductions as the PF is accumulated on continuous work for more than 5 years.

In that case, doesnt this fall under the category of unencumbered proof of funds?

Sir
NO , Cash in your personal bank account , Fixed deposits counts only.

http://www.canadavisa.com/canada-immigration-discussion-board/property-documents-as-proof-of-settlement-funds-t229079.0.html


Stay Blessed

 

[msaeed]

Yes it Does
but send that statement + Copy of circular of Govt. Of India stating the finds can be withdrawn after leaving the job.
I think that would suffice !

Sir

This will not , instructions from CIC on this are very clear

Stay Blessed

 

[mjoshi10]

Sir

This will not , instructions from CIC on this are very clear

Stay Blessed

Thanks for the Info !!!!!

 

[sherry34]

Dear fellow,

I believe provident fund should be considered as the liquid money. One of my friend used the PF for his application in 2010. HE submitted PF balance report and a statement from the employer that shows that he will get the PF in cash when he will leave the job. He did not faced any problem for acceptance of this statement. But, better to be on the safe side and provide the bank statement of the whole required amount to avoid any mis-hap.

Regards,

Thanks for the Info !!!!!

 

[syb1736]

is it necessary ,the bank account should be ssaving account not current ??

 

[Saps]

Now that's a cause of worry for us. As we believe based on our research, that if you produce bank certification letter then it should be supported by 12 months bank statement, which will reflect that money was moved in recently and if showing FD's it will be clear that the same was created recently.

In that case, we would have to show the source of funds , which in our case we would be moving from another bank account (and this is a joint account between us and my folks) which i know is not favorable by CIC.

PF fits into the "unencumbered and readily transferable funds"
however the 3 examples provided in the document checklist does not mention if its an example, or only the allowed proofs....

i wish they had more disclaimers in this document

 

[Saps]

Yes it Does
but send that statement + Copy of circular of Govt. Of India stating the finds can be withdrawn after leaving the job.
I think that would suffice !

1. Refer link http://www.epfindia.com/EPFScheme.pdf
2. Go to Seaction 69 (1) C
3. "Circumstances in which accumulations in the Fund are payable to a member"
4. Quote "immediately before migration from India for permanent settlement abroad [or for taking employment abroad]"

 

[mjoshi10]

1. Refer link http://www.epfindia.com/EPFScheme.pdf
2. Go to Seaction 69 (1) C
3. "Circumstances in which accumulations in the Fund are payable to a member"
4. Quote "immediately before migration from India for permanent settlement abroad [or for taking employment abroad]"

Thanks
gr8 info
will help all employed applicants with PF acctt