If your policy was assigned to the President, the Accounts Officer will collect the money and deposit it into your GPF. If it was only delivered to the Accounts Officer, the policy will be returned to you, and you might need to repay an amount to your GPF.
Source: GPF Rule 25
What happens if I retire or resign before the full amount is recovered?
What if I use the policy as collateral for a personal loan?
What if my alternative payments (like insurance premiums) exactly match or exceed my minimum GPF subscription?
What if my policy gives me a choice to take the bonus now or let it accumulate?
Can I get my GPF paid to my bank account outside India?
This answer is for informational purposes only and does not constitute legal advice. Always refer to the original rules and consult competent authorities for official interpretation.