I wonder whether the ideal number of factor to retain with a bifactor efa is N or N+1, given N is the number of factor suggested by parallel analysis. Because a perfect 5 factor oblique structure would be best recovered by 6 (and not 5) factors with a bi-factor efa (1 general & 5 specific). What would you recommend ?
Bi-factor EFA with 1 general and m-1 specific factors has the same model fit (same ML loglikelihood and number of parameters) as an m-factor regular EFA. So bi-factor EFA with a total number of m factors is just a different rotation than the m-factor EFA.
In your case, if you have perfect fit for 5 EFA factors, you would also have that same perfect fit for a bi-factor model with 1 general and 4 specific factors. So, if parallel analysis suggests 5 factors, you can go with bi-factor using 1 general and 4 specifics; i.e. asking for 5 factors when doing bi-factor EFA.