Section 19(1) in Bihar Contributory Provident Fund Rules, 1948
(1)The policy, within three months after the first withholding of a subscription or withdrawal from the Fund in respect of the policy, or, in the case of an insurance company whose headquarters are outside India, within such further period as the Account Officer, if he is satisfied by the production of the completion certificate (interim receipt) may fix, shall-(a)unless it is a policy expressed on the face of it to be for the benefit of the wife of the subscriber, or of his wife and children, or any of them, be assigned to the Government of Bihar, as security for the payment of any sum which may become payable to the Fund under rules 21 to 23 and delivered to the Account Officer, the assignment being made by endorsement on the policy in Form (1) or Form (2) of the Forms in the Second Schedule according as the policy is on the life of the subscriber, or on the joint lives of subscriber and his wife;(b)if it is a policy expressed on the face of it to be for the benefit of the wife of the subscriber, or of his wife and children; or any of them be delivered to the Account Officer.
