Urgent : POF [Provident Fund India Only as Proof of Funds]

[ektasapra]

Hi All !

I am EE Applicant from India. (Rcvd ITA in the last draw)

I would want to know from the forum if Provident Fund from India alone is sufficient or not. I have more than the required amount [ Approx 30,000 CAD] in my PF account and around 4000CAD in my savings account. As per my status we need close to 14,000CAD?

Or should i back it up with a gift deed and other methods? May be sell a Car that is in my Name for around 10,000CAD - This will be a legit sale. I can back this up from a notarized letter by the Buyer.

Please advice - POF is baffling me?

Thanks in Adance.
Best,
Ekta.

 

[coolhyd]

If you were in canada, funds contributed towards CPP (Canadian Pension Plan) is not considered as liquid money that you can show towards proof of funds.

 

[sammy1976]

yes you can show them as they are liquid and valid if they are printed on bank letterhead and stamped you can even use your Life Insurance Policy fund value, your mutual funds and shares no matter in which country they are if they are stamped and on letterhead they are ok. if they mention when did you open account than it is best and make sure when you evaulate it they must be Rs. 1 or 2 lesser than current dollar value ie instead of Rs, 51 assume they r Rs.50

 

[bestofluck]

@ektasapra, Indian PF are not fully liquid money. You will have to give proof of the applicable withdrawal amount at particular date. Its better you take a loan/gift amount from family members and give LOE.

 

[ektasapra]

Thank you all. How about selling an asset that is in my Name like a Car? Seller is ready to give a letter if needed. The car has been in my name since last 5 years.

 

[coolhyd]

Thank you all. How about selling an asset that is in my Name like a Car? Seller is ready to give a letter if needed. The car has been in my name since last 5 years.

You can do that. Make sure you get a wire payment for that.

 

[ektasapra]

Thank you @coolhyd @bestofluck @sammy1976

 

[Aragorn165]

You can use PF money (albeit maybe it's not a bad idea to get the necessary money out of your PF first).

 

[chiron]

I showed a combination of bank balance/gift deed plus my PF statement from the epfo website as POF and my PR application was approved. Of course, don't take that as a guarantee as it probably depends on the person evaluating your application.

 

[ektasapra]

@chiron it indeed is a good insight - let me get a gift deed in - can you share how can we prove the gift deed trail?

@aragron165 . thank you for the suggestion - i will with draw some money from the PF account - (any idea of how does the reflect in the bank account happens? does the PF dept also send an email confirming that PF has been with drawn (want to know how can we prove the money trail) .. any input here will be helpful

Thanks in Adv.
Ekta

 

[Aragorn165]

@chiron it indeed is a good insight - let me get a gift deed in - can you share how can we prove the gift deed trail?

@aragron165 . thank you for the suggestion - i will with draw some money from the PF account - (any idea of how does the reflect in the bank account happens? does the PF dept also send an email confirming that PF has been with drawn (want to know how can we prove the money trail) .. any input here will be helpful

Thanks in Adv.
Ekta

I would say it depends, in my case, the PF was withdrawn, a check was issued, which was then deposited in the bank account by my family.

 

[ektasapra]

I would say it depends, in my case, the PF was withdrawn, a check was issued, which was then deposited in the bank account by my family.

Which city was your PF account in? I have some PF stuck in Delhi and i am currently in Hyd? And how many weeks did the PF form submission to CHQ issue took?

Best
Ekta

 

[Aragorn165]

Which city was your PF account in? I have some PF stuck in Delhi and i am currently in Hyd? And how many weeks did the PF form submission to CHQ issue took?

Best
Ekta

Delhi, and it took about 2-3 weeks, I think.
The PF in question came from my mother, who then gifted the money to me in a gift deed- so I don't actually have specifics on the process haha.

 

[ektasapra]

Delhi, and it took about 2-3 weeks, I think.
The PF in question came from my mother, who then gifted the money to me in a gift deed- so I don't actually have specifics on the process haha.

Aw ! Can you share me the format of Gift Deed please !

Best,
Ekta

 

[Stanlee]

Aw ! Can you share me the format of Gift Deed please !

Best,
Ekta

You can find a sample template of a Gift Deed here http://www.canadavisa.com/canada-immigration-discussion-board/gift-deed-letter-t384602.0.html