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Non payment of stipend

shailesh chandra jha (Trainee) (30 Points)

31 January 2014

Respected sir,

I am CS professional student i am pursuing my training in a well known govt. company.They told me we dont provide any stipend to our trainees although as per institute guideline minimum criteria of stipend is mention.On the other hand my joining was on 14 jan 2013.Board meeting held on 27th August 2013 resolved that stipend of Rs.12000/- will be provided to the CA/CS/CMA trainees w.e.f. 28th august 2013 for student imparting training in our company.HR people take a stand that their is no provision for existing students for stipend so we can provide stipend to those candidate who join company on or after 28th august 2013.Is that justifiable that trainee with similar position one got stipend while other not and what about minimum criteria of stipend prescribe by icsi is that mandatory or optional for company.Please guide and suggest if any similar case on this particular situation.

Thanks & Regards

............ ......

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7 Replies

Arvind Ray (Practising Advocate CS LLB) (339 Points)
Replied 31 January 2014

The CS Regulations does not provide that a company in which a CS student is undergoing has to pay stipend. Only Company Secretarey / Firm of CS, in which training is undertaken, has to mandatorily pay stipend. (Please note that I do not have the official copy of the CS regulations. I am quoting the Regulation 49 from the Regulations, which I could obtain from the ICSi website.

As far as your situation is concerned, several aspects need to be looked into as you are undergoing training in a government company. But you must note that a government company, being a State, has to meet the mandate of Article 14 of constitution. Please revert for any clarifications.

[49. Training after Intermediate Examination or Executive Programme Examination

(1) A candidate who has passed the Intermediate Examination or Executive Programme Examination of the Institute may commence his training under clause (b) or clause (c) of Regulation 48, with the approval of the Secretary if sufficient companies or Company Secretaries or firms of Company Secretaries in practice willing to accept trainees are available for the purpose.

(2) A Company Secretary or a firm of Company Secretaries in practice under whom a candidate is required to undergo training under clause (c) of Regulation 48 shall be required to be approved by the Council and shall pay a monthly stipend as may be determined by the Council from time to time.]

2 Like

Amit Jindal (student) (48 Points)
Replied 03 February 2014

hello shailesh i am also going to register myself for training, i want to know in which govt company you are undergong training and did you follow any prodecure in particular to get selected in that compnay.please revert me soon.

regards

amit

shailesh chandra jha (Trainee) (30 Points)
Replied 03 February 2014

Dear Amit,

Sorry but i could not disclose company name Mr. Amit Ji its against ethical practise.Procedure for training in PSU is simple either you directly approach to company or apply to NIRC training section.They will provide you date of interview on the said date interview will be conducted & slected candidates will called as per company norms.

THanks & Regards.

Shailesh Jha.

Amit Jindal (student) (48 Points)
Replied 03 February 2014

Hi Shailesh

thanks for your response, can you give me the tips for the interview to get selected for training, i will really apperciate you for that.

regards

amit

shailesh chandra jha (Trainee) (30 Points)
Replied 05 February 2014

Dear Amit ji, Following tips you should follow for interview(CS):- Dress should be proper formal. Following topic on tips before interview.. Background of a company ,Board composition, price of share, listed on NSE or BSE.RTA and Depository of a company. Chapter of directors,Issue of share, general meeting,winding up,dividend. Role of CS.Various forms.Clause 49 of listing agreement,constitution of mandatory and non mandatory committee of directors and their scope. Section applied on that company (govt.,private,public,sec-25 company as the case may be). Be polite and humble during interview and eye contact maintained with each interviwer during interview with simple smile. Thanks and regards Shailesh jha

shailesh chandra jha (Trainee) (30 Points)
Replied 05 February 2014

One more thing highlights of new companies act,2013.

Amit Jindal (student) (48 Points)
Replied 05 February 2014

thanks alot Shailesh.... its really so nice of you. i will keep those things in mind.

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