Section 21(5) in The M.P. General Provident Fund Rules, 1955
(5)Notice of assignment of the policy shall be given by the subscriber to the Insurance Company, and the acknowledgement of the notice by Insurance Company shall be sent to the Accounts Officer within three months of the date of assignment.Note 1. - Subscribers are advised to send notice of the assignment to the Insurance Company in duplicate accompanied in cases in which the notice has to be sent to a company in Great Britain or Ireland by a remittance of five shillings, which is the fees for the acknowledgement authorised by the Policies of Assurance Act, 1867. The policy itself bearing the assignment endorsed thereon, need not be sent to the Company, as insurance companies do not ordinarily require the production of the original instruments affecting a policy-holder's title until the policy becomes a claim.Note 2. - Subscribers who proceed to Great Britain or Ireland on quitting the service are advised that under the English Stamp Law assignments or re-assignments are required to be stamped within 30 days of their first arrival in those countries. Otherwise penalty will be incurred under the Stamp Act, and difficulties may arise when the policy matures for payment.
