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PF balance is tax-exempt upon continuous service for five years

As per Section 10(12) read with rule 8 of part A of fourth schedule of the Income Tax Act, 1961, the accumulated PF balance due and payable to the employee, i.e. balance to his credit on the date of cessation of his employment, is exempt from tax if he has rendered continuous service for a period of five years or more.
Source: money

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