22 May 2012
As per The Chartered Accountant Regulation, 1988, 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. 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. In case of non payment of stipend, article assistant can take transfer/termination of articleship under regulation 56(1) and Principal can be impounded under code of conduct. -- Dashrath Maheshwari
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