ICAI Minimum Stipend payable during Articleship in 2015

A person registered as an Article Student is entitled to receive a minimum monthly stipend as per the rates specified under the Chartered Accountants Regulations, from time to time. The current minimum rates of monthly stipend payable, depending on the situation of the normal place of services of the articled assistants, are as follows:

New Revised Articleship Minimum Stipend rates from 2015:

Old Stipend Rates:

	During the first year of training	During the second year of training	During the remaining period of training
Cities / Towns having population of 20 lakhs and above	Rs.1000	Rs.1250	Rs.1500
Cities / Towns having population of 4 lakhs and above but less than 20 lakhs	Rs.750	Rs.1000	Rs.1250
Cities / Towns having population of less than 4 lakhs	Rs.500	Rs.750	Rs.1000

ICAI Articleship Status - FAQs about Industrial Training

Check your CA Articleship status with ICAI:

One can know the complete list of the students doing articles under a Chartered Accountant.

Just go to following link and at the end, instead of those 'xxxxxx', put the Membership Number of the respective CA.

http://220.225.242.179/locm_article.asp?MRH_MRN=xxxxxx

Things to know about Industrial Training:

• An articled clerk who has passed the Professional Education (Examination - II) or the Intermediate examination under these regulations may, at his discretion, serve as an industrial trainee for the period specified in sub-regulation (2) in any of the financial, commercial, industrial undertakings with minimum fixed assets of Rs. 1 crore; or minimum total turnover of Rs. 10 crores; or minimum paid-up share chapital Rs. 50 lakhs; or such other Institute or organisation as may be approved by the Council from time to time: 
  
  Provided that the articled clerk has intimated to his Principal his intention to take such industrial training at least three months before the date on which such training is to commence.";
• An articled clerk who has passed the Professional Education (Examination - II) or the Intermediate examination under these regulations may, at his discretion, serve as an industrial trainee for the period specified in sub-regulation (2) in any of the financial, commercial, industrial undertakings with minimum fixed assets of Rs. 1 crore; or minimum total turnover of Rs. 10 crores; or minimum paid-up share chapital Rs. 50 lakhs; or such other Institute or organisation as may be approved by the Council from time to time:

• Provided that the articled clerk has intimated to his Principal his intention to take such industrial training at least three months before the date on which such training is to commence.";

• The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training.
• The industrial training shall be received under a member of the Institute. An Associate who has been a member for continuous period of at least three years shall be entitled to train one industrial trainee at a time and a fellow shall be entitled to train two industrial trainees at a time, whether such trainees be articled clerks or audit clerks. 

• An agreement of training shall be entered into in the form approved by the Council.
• On satisfactory completion of the Industrial training, the member training the industrial trainee, shall forthwith issue to the trainee a certificate in the form** approved by the Council in respect of the training undergone under him and forward a copy thereof to the Secretary. 

The period of industrial training referred to under this regulation, should be treated as service under articles for all purposes of these regulations, provided the certificate referred to in sub-regulation (5) is provided.

Who is eligible for undergoing industrial training? A Student who has passed IPCC and is serving last 12 Months of Articled Training What is the maximum and minimum period of industrial training? A Student of Final Course can undergo Industrial Training for a maximum period of 1 Year and minimum period of 9 Months e.e., the period may range between 9 months and 1 year. Who is eligible to provide industrial training to an articled assistant and which are the required forms to be filled? An articled assistant can take industrial training under a member of a institute. An associate who has been a member for a continuous period of at least 3 years shall be entitled to train one industrial trainee at a time and a fellow member shall be entitled to train two industrial trainees at a time.  There should be an agreement of Industrial Training in form No.104 which will be submitted to the concerned decentralised office with in 30 days of the commencement of the training.  On Satisfactory completion of industrial training by an articled / audit assistant, the member under whom the industrial training is received shall issue a certificate in form No:105 in respect of the training undergone and to be submitted to the concerned decentralised office within 30 days of the completion of the training.  It is required to maintain details of work undertaken and training received the prescribed format.