Is 0.1% formalin (370ppm formaldehyde) safe in baby shampoo and body wash?

I am making a baby shampoo with 3% SLES+ 0.75% CAPB active surfactants at 4:1 ratio. The pH is 5 and it is preserved with 0.1% formalin.

My question: is 0.1% formalin (370ppm formaldehyde) safe for babies when used in baby shampoo and body wash? 

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