PF account with company - Urgent Plz Plz Reply

[yoga_yoga]

Hi Guys
Considering the new rules to show minimum balance through out three months time, can I show my PF maintained with my company ?
I am working here from more than 2 years and every month there is deduction of 10K towards PF.
Considering this I have enough balance in this PF account maintained with company. I can even get complete statement for all the months indicating my each month's contribution and total at the end, it will be stamped and signed by required authority.
So can I safely show this towards my funds?!!!

Thanks
Yoga

[hsmpinuk70]

No.

http://www.immigrationboards.com/viewtopic.php?t=26645

[yoga_yoga]

Hi HSMPINUk70
The thread which you are referring to is different than what I am trying to show. It;s a PPF which was rejected, what I am talking about is the savings account in form of PF account in which I save for my future and it's acomplete liquid assets which I can withdraw any time because I opened PF account more than 5 years back. If it's less than 5 year old account then they tax it 30 % but still you can withdrwa the amount with interest.
I hope I made it clear.
Please let me know.

Thanks
Yoga

[geriatrix]

It seems that the reason of refusal in the case (that hsmpinuk70 has refered to) has nothing to do with PPF but 'coz "they are not specified documents mentioned in the PBS application form or in the published guidance".

And I hope that you are aware that the main difference between PPF and EPF is that the former is a fixed-term, renewable voluntary contribution by an individual while the latter is a regulatory requirement for employees (and employers) for the purpose of pension (or a retirement plan). But the holistic purpose and framework of both the holdings is similar. Both are financial assets that you can withdraw money from (after a lock-in period).

But the point of concern for you here is whether it (PF or PPF) is considered as evidence of maintenance funds under the Tier 1 scheme. Based on the post (refered link above), it seems, and in my humble opinion, the answer is NO.

regards

[push]

yoga_yoga,

As far as I know PF account is NOT a savings bank account - in that, you do not control the deposit and withdrawls from it. I would not consider it as a source of liquid funds. My advice - do not take chances because the caseworkers go by the letter and ususally err on conservative side as far as visa approval is concerned.

regards,

push_hsmp

Hi HSMPINUk70
The thread which you are referring to is different than what I am trying to show. It;s a PPF which was rejected, what I am talking about is the savings account in form of PF account in which I save for my future and it's acomplete liquid assets which I can withdraw any time because I opened PF account more than 5 years back. If it's less than 5 year old account then they tax it 30 % but still you can withdrwa the amount with interest.
I hope I made it clear.
Please let me know.

Thanks
Yoga

[yoga_yoga]

Thanks guys for your responses.
I think I have to think of some other options now. I will call once VFS guys and check it out.

Regards
Yoga

[push]

Thanks guys for your responses.
I think I have to think of some other options now. I will call once VFS guys and check it out.

Regards
Yoga

One piece of advice here. Do not rely too much on what VFS guys say. They are just a facilitating interface and have got nothing to do with the approval process. Many of them simply do not know what exactly is needed and just follow instructions from their rule book. Just to give you an example, when I applied for EC from India last year, I had to sit in front of a trainee from VFS who gave me a real tough time. If you have any confusion talk to other members here or do a search on Home Office website.

regards,

push_hsmp

[yoga_yoga]

I enquired with VFS guys and to our surprise he is in sync with case workers this time - he said PF accounts will not be accepted.

Thanks for advice though - The group members are really helpful.