CA Sandeep Kanoi

ICAI has vide its press release dated 10th September 2014 proposed amendments to The Chartered Accountants Regulations, 1988 vide Draft Chartered Accountants (Amendment) Regulations, 2014.

A Table in Regulation  No. 48 of  The Chartered Accountants Regulations, 1988   specifies the stipend Payable to articled assistants based on year of training and place of Service. Vide Draft Chartered Accountants (Amendment) Regulations, 2014 ICAI has proposed to replace the existing table specifying the stipend payable with this new table –

48. Stipend to articled assistants

[(1) Every principal engaging and training articled assistant or assistants, under regulation 43, shall pay every month to such assistant a minimum monthly stipend, at the rates specified in the Table below:

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.1000/-Rs. 2000/- Rs.1250/-Rs. 2500/- Rs.1500/-Rs. 3000/-
(ii) Cities/towns having  a population           of    four lakhs and          above  but less      than     twenty lakhs. Rs.750/-Rs. 1500/- Rs.1000/-Rs. 2000/- Rs.1250/-Rs. 2500/-
(iii) Cities/towns having a population of less than four lakhs. Rs.500/-Rs. 1000/- Rs.750/-Rs. 1500/- Rs.1000/-Rs. 2000/-

Explanation 1 – For the purposes of this regulation, no stipend shall be payable for any excess leave taken.

Explanation 2 – For the purposes of determining the rates at which stipend is payable under this regulation, the period of articled training of the student under any previous principal or principals (not being any such period prior to 1st July, 1973) shall also be taken into account.

Explanation 3 – For the purposes of this regulation, the figures of population shall be taken as per the last published Census Report of India.]

(2) The stipend under this regulation shall be paid by the principal to the articled assistant either (a) by a crossed account payee cheque every month against a stamped receipt to be obtained from the articled assistant; or (b) by depositing the amount every month in an account opened by the articled assistant in his own name with a branch of the bank to be specified by the principal.

* Item Striked off is the existing rate of Stipend Payble

% Item In Red Colure is Proposed rate of Stipend Payable to  articled assistants

Read ICAI Draft Regulation on following link :-

http://220.227.161.86/34732notification24475.pdf

More Under CA, CS, CMA

Posted Under

Category : CA, CS, CMA (3725)
Type : Featured (4101) News (13568)
Tags : ICAI (2585)

0 responses to “ICAI Proposes to double the stipend Payable to articled assistants”

  1. gaurav chaudhari says:

    It is very hard to survive in the pune city by having stipend of Rs. 2000. We cant even end up with our food requirement. I stay in hostel. So we should get at least Rs.5000 pm.

  2. Sanjay Sukhija says:

    it is unfortunate C A Articles even not consider equivalent to unskilled labor

    1000 or 2000 even old age pension is more then in Delhi

    our department of labor welfare is sleeping they must ask CA INSTITUTE MAKE IT

    8500 per month

    PER MONTH EQUIVALENT TO MINIMUM WAGES

  3. Sanjay Sukhija says:

    we must pay our trainee and article as per the rate of skilled labor of every state

    CA institute did not consider even unskilled labor

  4. priya says:

    hello everyone,

    I agree with all of your comments regarding transfer and stipend. the amount of stipend should be at least 5k to 8k and restrictions on transfer should be removed as well as proper attendance should be maintained. there may be some students who are not interested to learn and there may be ca’s who treat us like slaves but people should recognize who is what? not all ca’s are same and not all students are same.Not only ICAI but even students and CA’s should take initiative to encourage the profession.KINDLY LET ME KNOW WHEN DOES IT COME INTO FORCE???

  5. YASH says:

    Please provide me where to search for the full details on ICAI or provide me a link of the same

  6. sumeet says:

    Servant @ 1000/- go door to door to find article ship. Than listen dialogues. 3 sal majduri, kaam tikode lagana.

  7. kamlesh panchal says:

    when will it get its applicability

  8. ronak says:

    Whether above draft has been implemented/ passed?

  9. rohit says:

    when it will be applicable.

  10. vinit says:

    agar kisi ko stipend milta hi nhi ho to unke liye kuch provision batao.
    in udaipur(rajasthan) 60% not get stipend.

  11. lipika says:

    But still need to modify. As according to ICAI we shall be trained in this 3 years of articleship but the truth is we are just the servents for thouse CA firms provided by ICAI. N one more thing if we work in any other place for 1year that will be treated as experience but not this articleship period, even can get more that 5000 at starting.. N the transfer is totally depend on principal if he disagree or write any thing wrong to the transfer form our carrier will be destroyed. ICAI members, “you never actually think for the student”.

  12. saloni says:

    Increament in stipend should be made as soon as possible.

  13. khushboo says:

    Increment in the stipend should be made applicable as soon as possible. ICAI should understand that Rs.1000 is very nominal amount as compared to the hardwork & time given by the students. Its just not worthy for the time denoted by the articles, so stipend should be increased soon which also motivates the articles to perform better.

  14. CA Vijay Thakur says:

    This should have happened 2 decades ago. Better Late than never. This seems like adoption of an unwritten rule.

  15. Deepak Karande says:

    mujhe ye puchana tha ki ye proposed amendments he ye actual me kab ayga?

  16. kanika says:

    IT’S A GOOD STEP BY ICAI. WE ARE A TRAINEE AND INSTEAD OF PAYING WE ARE BEING PAID. I APPRECIATE THIS STEP OF INCREASING THE STIPEND BUT INSTEAD OF THIS RISE IN STIPEND IF THE TRANSFER OPTION HAS BEEN INCREASED OR THIS RESTRICTION OF TRANSFER ONLY WITHIN A YEAR COULD HAVE BEEN REMOVED THEN IT WILL BE VERY HELPFUL FOR THE ARTICLES, AS IF WE ALL ARE VERY NEW WHEN WE START AND DON’T HAVE ENOUGH KNOWLEDGE ABOUT THE WORK SO CAN’T MAKE A CONCLUSION AND TILL THE TIME WE GET THE KNOWLEDGE OF THE WORK ONE YEAR HAS BEEN PASSED, AND WE CAN’T GET THE TRANSFER AFTER THAT.
    STIPEND INCREMENT IS GOOD , ALONG WITH THIS INSTITUTE SHOULD ALSO THINK AND TAKE A CORRECT STEP ON TRANSFER RESTRICTION MATTERS.

  17. Prabhakar says:

    Most of those commented have seen only the stipend increase portion of the proposed notification (which only has been mentioned in the above news item) and have felt elated and excited. In the same notification, there are two proposals – one to increase the fee for ‘verification of answer sheets’ to Rs. 2500/- from Rs. 500/- and another to give powers to the Council to fix the fee for inspecting the evaluated answer script up to Rs. 5000/- and getting certified copy of the evaluated answer script to Rs. 8000/- from the present level of Rs. 500/-. Now, the ICAI is effectively putting a deterrent by hiking the fee exorbitantly to cover up its own inefficiencies. Students, please note.

  18. Diana Buthello says:

    I think it is good step taken by icai of increasing stipend.ICAI should also see that every year transfer should be granted atleast once, as in span of 1 and 1/2 year we learn and start repeating the same procedures during next 1 & 1/2 years.As firms (not all) have not much of exposure for 3 year.

  19. akhil says:

    we articles works more than the time specified by the icai,, but when time came for coaching principal got the problem with that,,, they forgot we used to work till 8:00 pm from 9.30am and even on sundays too.. but sir you have problem with this… we finishing work on time.. when u r article you also faced the same situatuons nw every body blaming article student

  20. rahul pawar says:

    Most of Ca do not reimburse the Conveyance Expenses Incurred by article during their Airtcleship. As We everybody know, The Minimum working Hours Per Weak 35 hrs. But It is not followed in any Firms. ICAI is required to launch the Online Student Attendance Register Which should be Regularly Updated By the Article & their Principle so that proper Record of working Hrs of Article could be Maintained.
    Restriction on Transfer after One years should be Deleted.

  21. rahul pawar says:

    most of Ca do not reimburse the Travelling Expenses Incurred by article during their Airtcleship. As We everybody know, The Minimum working Hourse Per Weak 35 hrs. But It is not followed in any Firms. ICAI is required to launch the Student Attendence Register Which should be Regularly Updated By the Article & their Principle in to

  22. RITESH says:

    WHEN WILL IT COME INTO FORCE

  23. Arti Nishad says:

    Stipend increase kiya thankyou bt aur increase karna tha actually baat stipend ki nhi agar hum articles ko shikne mile to bura nhi lagta stipend mile ya na mile bt bura kab lagta hai jab apka principle apko kuch shikate nhi ulta aisa clerk vale kaam dete hai aur humara tym waste hota so tab bura lagta hai aur hum transfer le sakte hai pata hai but 1 saal ke andar agar kisi ne nahi liye to uska 2 saal waste so icai ko iske liye kuch karna chaiye.

  24. Chan CA says:

    The comments are in poor mind set. First of all the articled students are coming for trainning and not for employment. Instead of they pay for their trainning they were paid .This should be borne in mind. At the same time ICAI must be aware of the inflation and pay a reasonable sum . And no banishing at public forum based on few who is inscrupulous.

  25. gaurav says:

    I wish this is introduced retrospectively…..
    There should be a forum where an article can complain regarding non-timely payment of Stipend.

  26. Cma Anas K M says:

    Do u think this amt is just enough to be an efficient trainee.?.It will not cover atleast commutation expense.Are Icai aware about inflation and all.?

    As being professionals,we are taking about more independent nexus,why dont ICAI set up expert commitee to examine the problem.? As we know setting up of stipend by Ca members will never consider the intrest of students.So expert commitee should include students representative.

    And one more thing about the most hated way of paying stipend,A PIL should be filed in SC against this practice and to increase it upto atleast minimum wages applicable to concerened state.

  27. CA manimegalai says:

    I agree with you CA Cochin. i always had this opinion as an articled asst

  28. Sanjay Sukhija says:

    Sir it should as per apprentice act and should be equal to minimum wage of every state like in Haryana 236 per day and delhi 305 per day

  29. Bipul kumar says:

    Minimum stipend should not be less than 5K.At least give article cleark out of pocket expenses (travelling, mob etc.). Expenses.

    We should suggest Icai to give stipend matching with minimum wages.

  30. Cochin CA says:

    We already give stipend more than the proposed amount. But how will ICAI ensure the commitment from the articles? Most of them come to office just to complete the formality of articleship. They are not interested to learn or work.

    I also suggest, there should be a rotation of articles in one and a half years. Let the student complete the articles in another firm in the second one and half year. In that way, they will also understand how other firms work, what are the work in other firms etc. It is good for them also, because in some firms they get exposure only to some specific work in the whole of 3 years like internal audit or concurrent audit.

  31. Praveen Gupta says:

    Mr.Vivian richards… i appreciate and agree with your comments…..

  32. ABHISHEK says:

    tell one thing all of u if any of u hav read this notification seriously, besides articleship stipend increase it also states increase in inspection of certified copies from 500 to 2500 Rs.
    Is this true or i am interpreting notification wrongly ?

  33. Venkat says:

    Mr NSG, I dont know what you are speaking. I am also CA student. Richerdson is absolutely correct. Some of practising CA like principal of Richerdson’s son are doing this things. Hey what you are thinking about students,they are not your servents. If student is incapble of doing things that is because of you(CA),I am sure there is a day will come soon where they people will come to useless for scocity and will never be accepeted by people. Because of those useless people thos profession has been degraded. Finally one thing …. Now a day u will believe that some people who are in service even dont know minimum knowledge of excel and accounting packages….dont blame article students… The universal truth is IF THERE IS NO ARTICLE STUDENTS THERE IS NO PRINCIPALS.

    Hey I am sorry if my words hurt you. But it is truth.

  34. CA MUTHUKORI says:

    MODERATOR PLEASE NOTE
    DEAR MR WATCHMAN (NSG-NATIONAL SECURITY GUARD)
    THIS FORUM IS NOT FOR PERSONAL REVENGE OR COMPLAIN ABOUT WHO DESERVES TO BE CA OR NOT.LEAVE IT TO THE ICAI TO DECIDE THAT. PLEASE DO NOT ABUSE BY MAKING PERSONAL COMMENTS ON THIS FORUM BY DOING WATCHMANGIRI.THIS IS COMPLETELY UNPROFESSIONAL AND UNETHICAL TO DECIDE WHO DESERVES TO BE CA AND WHO DOES NOT.IF YOU DECIDE THEN WHAT IS THE USE OF ICAI.YOU CAN BECOME THE PARALLEL ICAI

  35. SUSHIL RANA says:

    Its Good proposal, but when its confirmed & applicable? after artical training……?

  36. Pavan says:

    When will it come to applicablity?

  37. Pavan says:

    When wikk it get applicable?

  38. Kapl Gupta says:

    the persons who have the right to increase the stipend does not increase the stipend in any of the way.
    everyone know about that in RS.1500 is not true stipend but article is helpless because call of the power is given by only ICAi to its members(CA)which is misused by members.

  39. vivek says:

    jaldi bhadao. sadda haq2 chaiye

  40. NSG says:

    Dear Mr.VIvian Richard(FAKE PERSON)

    My friends know your son well.He was not an able person to study CA course.
    He knows nothing.He behaves as if he got degree by copying other students in exams.
    His basic character was like an idiot.I assume he inherited this charatcter from you.MR.Richard.dont make false story in this forum.Like you,your son is also a ……………..

  41. Ankit says:

    Pichale kitne salse sun rahe hai double hoga …double hoga….lekin ab tak nahi huwa hai….karna hai to karo …varna mazak to mat karo….

    Sirf Proposed kar k 6od dete hai applicable to kabhi karte nahi….

    Fack hai sabhi bate …wait karte raho yaro or articleship wait me hi puri ho jayegi….

  42. Priyanshu Srivastava says:

    It’s a good proposal but from when it is applicable?

  43. Aby says:

    When this will come true ot it will be only as this article……

  44. C.A. J.K.Agarwal says:

    There is no problem in paying the increased stipend but what about prohibiting them to attend private Coaching classes in office timings. Coming late to office and leaving early to attend classes. Institute should make it compulsory for Articled Trainees to attend classes run by Regional Councils of the Institute. Submitting certificate from Regional Council for attending their Coaching Classes, with the Examination Form,should be made compulsory.

  45. CA P K Nanda says:

    The proposal is verygood and the same should be implemented asap. ICAI decission is welcome.

  46. Taarakesh says:

    Even if its doubled, the stipend will still be Max. Rs.3,000/-. Not that great.
    Moreover this has to be implemented soon.

  47. RAJ PATEL says:

    YES
    IT SHOULD INCREASE

  48. ajay says:

    Its very good news, kab ho rha hai

  49. rahul roy says:

    when will it be implemented or its just another bad joke

  50. Vivian Richards says:

    My son was articled clerk. His CA used to expect them to open the office, sweep the floors, teach nothing, was out of sync with present laws, knew only greasing palms of tax persons to get work done and pay a paltry rs 300 pm for full 8 hr clerical work which would have cost him Rs 5000 a month for regular clerk. CAs are a useless lot who have a guild mentality of olde times and exrorting the aspiring young persons on hopes of becoming a CA. The result of exam dismal , a mere 2 % or so, purposefully kept low to avoid generating more competition. These r all restrictive and exploitative tactics of the guild that is ICAI. Govt must step in and put a stop to this avarice by stipulating min. Payment and norms for work and training. The CAs should have to give a written and oral exam of independent body to qualify to continue working, to see that their knowledge and practice is uptodate. What is about ICAI also holds true of other guilds.

  51. Saksham Katyal says:

    when this will be confirmed…???

  52. neha says:

    when will it get its applicability ?

  53. ca sanjay agarwal says:

    yes it is a well come move of the Institute.

    go ahead.

Leave a Reply

Your email address will not be published. Required fields are marked *