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Articleship stipend


I'm doing articleship in a small audit firm. As per mutual consent, i'm not getting any stipend. Is there any problem regarding this? some of my friends says your articleship ll not be valid if you don't get stipend ( that too credited in a seperate account). Pls clarify.

 
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Ca - Final GROUP I CLEARED CS- FINAL

it will not be counted as articleship served. it will amount to "Dummy Articles".

 
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Article Assistant


are you from indore

 
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But why u r not taking your stipend dude?

 

 
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hi 

 if you are not getting stipend through separate bank account your article ship will we invalid.

 
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Chartered Accountant


It won't create any problem. Because ICAI won't ask for any bank statement of yours for the credit of the stipend. But I wonder why you're not taking the stipend anyways.

 

 
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Seriously dude, why aren't you taking any stipend..let alone invalid articleship..this should be declared as national catastrophe

 
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Self Employed


There is possible that icai may ask a student at any time about work diary and bank statement as a proof for stipend received(As per ca regulations member should give minimum stipend prescibed as per ca regulations through account payee check only)

And i have seen cases where icai asks student to provide original deed of articles ,bank statement and work diary as all these three and mandatory rules prescribed by icai ..

So do comply with all three other wise you might be in trouble if icai asks you..

 


Total thanks : 1 times

 
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Self Employed


 
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As per regulation 68 to the  Chartered Accountants Regulations, 1988.,Every principal engaging an articled assistant shall pay to such assistant every month a minimum monthly stipend at the rates specified." Hence if stipend is not paid you are violating this provision and your Principal is also guilty of professonal misconduct under Schedule 1 part 3 clause 2 of CA act.


Total thanks : 2 times

 
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