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Articleship

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01 June 2012 is it compulsory to get the stipend through cheque? is there any problems if get it through cash?
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CA Syed Raza Abbas Rizvi

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CA Syed Raza Abbas Rizvi (Expert)
02 June 2012 As per guidence issued by ICAI stipend shall be payable by the chartered Accountant through cheque only and not in cash.

Further, Always receive ur stipend by cheque. It will be beneficial for u as well as your principal.

from your principal point of view, if u deny that u have not received ur stipend then it will be easy for ur principal to prove that he has paid stipend thru cheque....

from urs point of view, if ur principal claims that u were not at work for say 3 months and shows excess leave ( assume that he has altered attendance register),, then it will b easy to prove that u were at work as u had received stipend for that period thru cheque

ICAI also prescribes for receiving stipend in cheque to avoid any future litigation.
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Nikhil Kothari

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Nikhil Kothari (Expert)
02 June 2012 Thank you Syed sir. Agree with the sir.
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