Step 1: Launch VLC media player and click on Media –> Convert / Save.
(http://s11.postimg.org/rvcjq5a5b/convert_save.jpg) (http://postimg.org/image/rvcjq5a5b/)
Step 2: Under the file tab you will see two sections. In the first one add the file you want to convert while the second section can be used to embed a subtitle to the converted video that's already in sync.
(http://s3.postimg.org/bptqhhnnz/open_file.jpg) (http://postimg.org/image/bptqhhnnz/)
Step 3: Click on the Convert/Save button when you are done. Finally select the destination folder, give a desired filename, select the desired video profile and click on the start button.
(http://s28.postimg.org/6cz95dyah/destination_file.jpg) (http://postimg.org/image/6cz95dyah/)
Note: By default VLC media player comes packed with a few profiles that can convert your video to most of the widely used audio and video formats. You can edit, delete or create new profiles using three buttons located next to the select profile dropdown list.
(http://s11.postimg.org/fejo87j4v/advance_editing.jpg) (http://postimg.org/image/fejo87j4v/)
You can play with various settings like audio and video codecs to get your desired conversion profile.
Step 5: Once everything is at place press the start button.