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ICAI Proposes to double the stipend Payable to articled assistants

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 -

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

Categories: CA, CS, CMA

View Comments (53)

  • 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???

  • 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

  • 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

  • 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.

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