Section 15 in Rajasthan State Warehousing Corporation Employees Provident Fund Regulation, 1962
15. Advances for payment of Premia for Insurance Policies, etc.
- Advances may be made to a subscriber from the Fund lying on account of his subscriptions and interest thereon with the approval of the Committee for the following purposes:-(a)Subscriptions to a family pension fund, if any, maintained by the Corporation for its employees.(b)Payment towards premium of Policy of insurance on the life of the subscriber or of his wife, Provided that the subscriber shall himself assign or procure the assignment in appropriate form of the policy of Insurance in favour of the Committee as security for the payment of any sum which may become payable to the Fund and shall deliver the policy of the Committee:Provided further that the notice of assignment of the policy shall be given by the subscriber to the Life Insurance Corporation or other Insurer and the premia receipts granted are produced for Inspection from time to time:Provided further that the number of policies in respect of which the facility referred to above is allowed shall not exceed three at a time.
