18 December 2009
Hi Friends, I have completed 2 years and 6 months of articalship, (belong to the PCC course so i have to do 3 years and 6 months of articleship). I would like to do Industrial Training, i have got an offer too in an industry which is in the list of ICAI as a place to do Industrial Training.
I Would like to clarify whether you have to Pass the PCC exam to be Eligible for Industrial Training?.
After reading the Clauses of Applying to Industrial Training I feel that I am eligible but the Seniors at my Firm, say that I have to Clear PCC to be eligible.
Dear Student, Please go through the below given regulation for clarification: 51. Industrial Training
(1) An articled assistant who has passed the Professional Competence Examination or Professional Education (Examination-II) or Intermediate examination under these regulations may, at his discretion, serve as an industrial trainee for the period specified in sub-regulation (2) in any of the financial, commercial, industrial undertakings with minimum fixed assets or minimum total turnover or minimum paid-up share capital as may be specified by the Council or such other institution or organization as may be approved by the Council from time to time:
PROVIDED that the articled assistant has intimated to his principal his intention to take such industrial training at least three months before the date on which such training is to commence.
4[(2) The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training.]
(3) The industrial training shall be received under a member of the Institute. An Associate who has been a member for a continuous period of at least three years shall be entitled to train one industrial trainee at a time and a fellow shall be entitled to train two industrial trainees at a time, whether such trainees be articled clerks or audit clerks.
(4) An agreement of training shall be entered into in the form* approved by the Council.
(5) On satisfactory completion of the industrial training, the member training the industrial trainee, shall forthwith issue to the trainee a certificate in the form** approved by the Council in respect of the training undergone under him and forward a copy thereof to the Secretary.
(6) The period of industrial training referred to under this regulation, shall be treated as service under articles for all purposes of these Regulations, provided the certificate referred to in sub-regulation (5) is produced.
Ravishankar S C Assistant Secretary Board of Studies The Institute of Chartered Accountants of India ICAI Bhawan, Post Box No.36, A-94/4, Sector-58, Noida- 201 301 Ph.No. 0120-3045930 (Direct) PBX No.0120-3045900, Extn.930 E.Mail: scravishankar@icai.org Fax No.0120-3045940
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