EPFO writes to Finance Ministry on exposure to crisis-hit IL&FS bonds

Sources said that the EPFO has invested about Rs 570 crore in the IL&FS bonds.

Concerned over its exposure to IL&FS bonds, the Employees Provident Fund Organisation (EPFO) has intimated the Ministries of Finance and Corporate Affairs and sought its help in protecting the retirement fund money of large numbers of people.

"Letters have been written to the Finance Minister and also to Corporate Affairs," Central Provident Fund Commissioner Sunil Barthwal told IANS. However, he said the EPFO's exposure in the debt-ridden company's bonds is "very less" considering its total corpus.

"Till now there has been no default by IL&FS in paying our interest amount or any principal amount. Now we will have to see, what happens