Also i went through the datasheet of LF412 for providing compensations for input bias current and Total output Offset Voltage [(Input Offset Voltage * gain) + output Offset Voltage due to input Offset Current).

I came accross the following solution to supress those values mentioned in the datasheet:

For compensating Input Bias Current:

Adding compensation Resistor (Rcomp) at the non-inverting terminal.

For compensating Total output Offset Voltage:

A trim pot with end pins connected to a bipolar supply and the wiper connected to input resistor of inverting input. So that the Opamp is set to zero output initially using this pot.

Would this be a better solution 'or' is there a better way to do this?

Could i implement these compensation techniques in my Instrumentation Amplifier circuit?

regard's
Suresh.