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Articleship stipend

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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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16 Replies

Karthik Venkatram (Chartered Accountant) (247 Points)
Replied 07 June 2013

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

Amber Jain (Article Assistant) (206 Points)
Replied 07 June 2013

are you from indore

CMA Avinash Yadav (Dy Mgr (Cost)) (96 Points)
Replied 07 June 2013

But why u r not taking your stipend dude?

mp nikhil (student) (35 Points)
Replied 07 June 2013

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

CA Srikanth Yadav (Chartered Accountant) (3162 Points)
Replied 07 June 2013

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.

Naushad Ali (CA) (31 Points)
Replied 07 June 2013

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

Ganeshbabu K (Audit and Tax Advisory) (48559 Points)
Replied 07 June 2013

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..

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Ganeshbabu K (Audit and Tax Advisory) (48559 Points)
Replied 07 June 2013

Please refer

https://www.icai.org/post.html?post_id=781

read 98 page specially in below given training guide

https://www.icai.org/resource_file/15238trai_guide.pdf

https://www.icai.org/new_post.html?post_id=5854

Joey Tribbiani (fdg) (2010 Points)
Replied 08 June 2013

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.

2 Like

Raman (Student CA IPC / IPCC) (23 Points)
Replied 08 June 2013

I am also not getting my Stipend. I just want to know whether there would be any problem in my ca course due to this. I thought that it would affect only my principle if it would be disclosed to icai. please suggest whether i should ask my CA about this or not.

Ganeshbabu K (Audit and Tax Advisory) (48559 Points)
Replied 08 June 2013

Originally posted by : Raman
	I am also not getting my Stipend. I just want to know whether there would be any problem in my ca course due to this. I thought that it would affect only my principle if it would be disclosed to icai. please suggest whether i should ask my CA about this or not.

there may problem

Please refer rules which i have provided in my previous replies in the same post

1 Like

HARISH BANSAL (student) (229 Points)
Replied 09 June 2013

At the time of filling Form- 108 , you have to tell about your Bank Account Name and Account Number . ICAI Institute asks you details regarding Stipend that in Which Bank Account you have received your Stipend.

That's Why you may ask your Chartered Principal that he will give you Account Payee Cheque for Stipend and after clearing the cheque you can give cash back to your Chartered Prinicipal.

Regards,

Harish Bansal

1 Like