Tax Planning and Provident Fund
PF consultants in Bangalore also assist with tax planning related to the Employees’ Provident Fund. The contributions made to the PF are tax-deductible under Section 80C of the Income Tax Act, but there are specific rules regarding withdrawals and interest. Consultants help employees and businesses understand these nuances, advising them on how to optimize their contributions for tax benefits. Additionally, they assist with ensuring that all withdrawals from PF accounts, such as during job changes or retirement, are tax-efficient.