Articleship & extention

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 December 2012 Dear Members,
I am a IPCC Student.
I am about to complete my articleship of 3 years.
I have taken total leave of 201 days (including 123 days for CA final Examination).
Also i have earned a credit of 63 days during my 3 years articleship period.

Now, do i have to serve any extention??

Kindly provide complete details.
Thanks.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

02 December 2012 Your net leaves according to your information is 138(201-63).Assume these leaves excluding of Saturdays, Sundays and any public holiday as per ICAI. According to the regulations of ICAI you are eligible for 160 leaves in your 3 years articleship period. So your leaves is with in the limit of eligibility leaves as per ICAI. so no need to serve for any excess days of articleship.

How shall compute the eligibility leaves. By the following formula we will compute eligibility leaves.

Eligibility leaves = (Total required days of service-Total Net leaves)/6

Here = Total required days of service means no. of days in your service period i.e 365*3 = 1095

Total Net Leaves = Total leaves by you - credit allowable leaves = 201-63 = 138

Thus eligibility leaves for you is
(1095-138)/6 = 957/6 = 159.6(assume 160).

OM SAI SRI SAI JAI JAI SAI

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