The General Provident Fund (Central Services) Rules, 1960
RULE 28- DUTY OF ACCOUNTS OFFICER WHEN HE RECEIVES NOTIES OF ASSIGNMENT, CHARGE OR ENCUMBRANCE OF POLICIES
If the Accounts Officer receives notice of-
(a) an assignment (otherwise than an assignment to the President under rule 22), or
(b) a charge or encumbrance on, or
(c) an order of a Court restraining dealings with the policy or any amount realised thereon, the Accounts Officer shall not-
(i) reassign or make over the policy as provided in rule 24, or
(ii) realise the amount assured by the policy or reassign, or make over the policy, as provided in rule 25, but shall forthwith refer the matter to the Government.