Finance PF funds' investment in IL&FS bonds have no government guarantee: Finance Ministry Updated : February 20, 2019 06:19 AM IST Thousands of crores of money of more than 15 lakh employees of both public and private sector companies have exposure to IL&FS bonds. Over 50 funds that manage retirement benefits of over 15 lakh employees have exposure to IL&FS. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.