Ishneetd said:
Dear Asivad Anac,
I require your help in validating my Letter of explanation for Proof of Funds . I have sent you a personal message with the format I have created. Request you to please look at it and advise.
Thank you very very much!
Ishneet
Below is the LOE I have written. Please advise if this shall be okay
Require your help in validating my Letter of explanation fro Proof of Funds -
Letter of Explanation – Proof of Finance
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Please note that all my ‘Proofs of Funds’ documents are attached in this document below. However, I am summarizing my financial health here:
I have been employed since September 2011, and earned the following compensation:
• September 2011 – March 2012: INR XXX
• April 2012 – March 2013: INR XXX (Including XXX performance pay)
• April 2013 – March 2014: INR XXX (Including XXX performance pay)
• March 2014 - April 2015: INR XXX (Including XXX performance pay)
• Currently, working as a contract employee: 1/05/2015 – INR XXX per day
The proof for the above mentioned income from the employer has been provided in the Work Experience document in the form of Employment contracts and Increment letters from the organization.
Summary of Financial position:
This income as stated above from my organization goes to my Suvidha Salary account, CITI BANK. However, I transfer the amount to another savings bank account of mine – PUNJAB NATIONAL BANK.
I have therefore accumulated a balance of over INR XXX as on January 2015 in my Punjab National Bank savings account on the basis of my employment. However, on 27th August 2015, I transferred INR XXX to a Fixed Deposit scheme of Punjab National Bank.
Further, by the end of 31st December 2015, I hold INR XXX in the savings account and INR XXX in the Fixed Deposit scheme.
I consider that Online Citi Bank Statements will not be considered as a proof of funds by the Immigration department and therefore, do not include it under the ‘Minimum POF’ requirements. However, the online bank statements could be used to cross-verify the source of funds accumulated in my Punjab National Bank savings and Fixed Deposit accounts.
Also, please note that I have been paying Income Tax to the government for the last 3 years on the income generated from my employment and this can again be used for verification of my POF.
Attached proofs:
• Punjab National Bank statement – Generated on 31st December 2015
(I am the primary account holder while my mother is the second account holder)
• Fixed Deposit Statement for PNB (I am the holder, while my mother is the nominee) – The date of maturity is 27th August 2016 for the value INR XXX. However, when required, the Fixed Deposit can be broken earlier as well without any government/bank restriction
• Citi Bank Statements – Online (From 1st January 2015 onwards)
• Last 3 years Income Tax Returns
• April 2014 – March 2015 – Consolidated pay slip from employer
My name
Dated: 4th January 2015