Students have been one of the topmost priorities of ICAI with a vision for sustained and future-oriented growth of our profession. In a latest move to serve the cause of our students, the Institute has decided with immediate effect (i.e. 23 January 2015) to double the stipend rates for each of the year payable to the articled assistants pursuing Chartered Accountancy course.

A notification issued in this regard to revise the Regulation 48 of the Chartered Accountants Regulations, 1988, is available on the website of the ICAI at the link http://220.227.161.86/36524council25906-sas.pdf . The stipend rates so revised are as follows:

Table 

Classification of the normal place of service of the articled assistant During the first year of training During the second year of training During the remaining period of training
(1) (2) (3) (4)
(i) Cities/towns having a population    of  twenty lakhs and above. Rs. 2000/- Rs. 2500/- Rs. 3000/-
(ii) Cities/towns having  a population           of    four lakhs and          above  but less      than     twenty lakhs. Rs. 1500/- Rs. 2000/- Rs. 2500/-
(iii) Cities/towns having a population of less than four lakhs. Rs. 1000/- Rs. 1500/- Rs. 2000/-

I appeal all of you to bring the above notification to the knowledge of your principal and get benefited.

With Best Wishes,
CA. K. Raghu
23 January 2015 President, ICAI

——————————————-

Final Notification – Amendment in Regulations 28E, 48 (stipend to articled assistants) and 204 of the Chartered Accountants Regulations, 1988. – (23-01-2015)

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi,the 23rd January, 2015

No. 1-CA(7)/167/2014.- Whereas certain draft regulations further to amend the Chartered Accountants Regulations, 1988, were published as required by sub-section (3) of section 30of the Chartered Accountants Act, 1949 (38 of 1949), in the Gazette of India, Extraordinary,Part III, Section 4, dated the 10th September, 2014, inviting objections and suggestions from persons likely to be affected thereby, before the expiry of forty-five days from the date on which the copies of the Gazette containing the said notification were made available to the public;

And whereas the copies of the said Gazette were made available to the public on the12th September, 2014;

And whereas the objections and suggestions received from the public on the said draft regulations have been considered by the Council of the Institute;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 30of the said Act, the Council, with the approval of the Central Government, hereby makes the following regulations further to amend the Chartered Accountants Regulations, 1988,namely:-

1.  (1) These regulations may be called the Chartered Accountants (First Amendment) Regulations, 2015.

(2) They shall come into force on the date of their final publication in the Official Gazette.

  1. In the Chartered Accountants Regulations, 1988 (hereinafter referred to as the said regulations),-

(i) in regulation 28E, in sub-regulation (1), in clause (b), for the words “nine months”, the words “eight months” shall be substituted.

(ii) in regulation 48, in sub-regulation (1), for the Table, the following Table shall be substituted, namely:-

Table 

Classification of the normal place of service of the articled assistant During the first year of training During the second year of training During the remaining period of training
(1) (2) (3) (4)
(i) Cities/towns having a population    of  twenty lakhs and above. Rs. 2000/- Rs. 2500/- Rs. 3000/-
(ii) Cities/towns having  a population           of    four lakhs and          above  but less      than     twenty lakhs. Rs. 1500/- Rs. 2000/- Rs. 2500/-
(iii) Cities/towns having a population of less than four lakhs. Rs. 1000/- Rs. 1500/- Rs. 2000/-

 (iii) in regulation 204, for the words “and International Trade Laws and World Trade Organisations” the words, “International Trade Laws and World Trade Organisation and International Taxation” shall be substituted.

[File No. 1-CA(7)/167 /2014]

Sd/-

V. Sagar

Acting Secretary

Original Link- http://220.227.161.86/36524council25906-sas.pdf

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24 Comments

  1. Himanshu Jaggi says:

    Whats the need to make fun of the articles…is 2500 is enough for a thirt year article
    institute is just treating the students as labour. .a labour gets more than us in a day

  2. nik says:

    What is the use od double or triple the stipend. In actuality we never get a single Penny ….for me it is better to remove Stipend so that no one get any expectation about it .
    This double and Triple of Stipend it always seem like a Joke

  3. hari priya says:

    what is use of increase in the stipend ? strictly speaking icai is not implementing the rules accordingly, it is collecting the huge money from the number of students even it is also collecting for the campus selections

  4. Saajan H Jain says:

    by doubling the stipend institute has done great job but as articleship is just cheap labour for Practising CA & Slavery for Article assistants Bcoz for class of ITT,Advance ITT ,2 GMCS,Orientation Program we pay around Rs.25000 to 30000 which is almost 1 and half year stipend for Article assistants

  5. Jeeva says:

    It is serious issue. Many of the Article are doing the practice in Metros and staying alone to get more exposure during the period. Hence Institute must hike the present rates for METROS. Must take an consider the survival cost too….

    Hope you consider and review soon.

  6. Anonymous says:

    seriously,if someone says paying Rs.3000 for an article is not affordable probably. They should not practice. Will you get any person of any qualification for less than Rs.3000 Please do not treat articles like cheap labour

  7. Rohan kumar says:

    It is mentioned,”They shall come into force on the date of their final publication in the Official Gazette.” whether it is mandatory or not.

  8. A. MUKHOPADHYAY says:

    THE PRESENT LEVEL OF FEES SUGGESTED WILL BE A HARDSHIP FOR SMALL PROPRIETORSHIP AND PARTNERSHIP FIRMS IN METRO CITIES LIKE KOLKATA. SUGGEST FOR 20% TO 30% HIKE, WHICH IS AFFORDABLE. REQUEST FOR REVIEW OF THE DRAFT NOTIFICATION.

  9. BISHNU MOHAN NAYAK says:

    Dear, Reader please lets think of what the intention of our institute, whether it is for the purpose to serve cost of CA or cost of leaving. Accordingly decide.

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