Indira 06 February 2016

Pf, pff and insurance amount share when getting divorced

Dear Sir,
Currently myself and my husband are separated. I have a one year kid, non-working and I am planning to apply for divorce.

Can I request share for me and my kid on PF, PPF and Money-back Insurance policy amount which my husband is holding (using Court of Law)? If so how much share I can ask for me and my kid?

How do I proceed as there is long term duration on these accounts (ex. PPF -15 years and I have to wait for 10 more years to get the money and Insurance - I have to wait for 10 more years to get the policy matured)? Can I request court to provide share to kid once these are matured?

The reason for asking this question is my husband transferred all his assets to his family members and relatives (using sale agreements) and not ready to give anything to me and my kid. Since he is working in private sector, he is planning to show that he is earning very less income which is not sufficient to himself (even though he is earning around 1 lakh per month).

Thank you

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4 Replies

Born Fighter (xxx) 06 February 2016

It seems you want everything fast.....marriage,kid,seperation and now PPF amount.

Unless you are a nominee you stand to get nothing. just as husband has transferred property he can do away with the policies as well to avoid giving you a share in case you are a nominee.

Best way is to go for MCD. Live in peace by taking a reasonable amount. From your english i can make out you are well educated so plan to take up a job than to roam around the court for 3-6yrs.

Indira 07 February 2016

Dear Renuka/Born Fighter,
Thank you very much for quick response and your inputs. I am not in hurry to get divorce. I know the pain and I am already suffering. Each time when I see my son, my husband is coming to my thoughts.

I did work for 2 years in IT MNC and quit the job when my husband asked to do so before delivery and now taking care of my kid from past 1 year.

My husband left the house and staying separately leaving me and my kid. I am living with a hope that he will come back at least for the kid and he is not coming back, even after talking several times. From past 3 months, we are not in contact.

I am afraid to contact lawyer and send a notice to him as things might get worse if I do so. What I can do is give time to settle the things.

He made me nominee for PF and PPF accounts after marriage. But I doubt he might have changed it now. I don't have intention to apply divorce. But is there anything I can do if my husband applies for divorce or if he is not showing up his face?

If the nominees are changed after separation, can't my son claim them when he grow up (which can be used for his higher education purpose in future)? I don't have intention to grab everything from him (he already planned better about his assets), but want to see if my kid can get anything from him legally in case things get worsed.

Thank you for your advice and I am now getting ready to start my carrier again.

Thank you