Industrial Training

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Alex Fernandes (Querist)

24 November 2010 As i am not able to gain much practical knowledge in my articleship time as we were having only concuureta udit of bank .So in my final year i wanted to go for industrial training So maximum of 12 months can be done is it correct and also let me know that if a BPO having 25-30 Chartered accountant dealing in US Accounts Finance can i could join this company please let me know and if yes i need to regiter under the name of the compnay or under the name of CA in that Company plz advice me

Ajay Mishra

Ajay Mishra (Expert)

24 November 2010 Hi

INDUSTRIAL TRAINING
Industrial training is a training scheme by which a student can undergo practical training within an industrial undertaking having specified amount of fixed assets or turnover or paid-up share capital. Industrial training can be commenced during the last one year of articleship. Industrial training can be performed in financial, commercial, industrial undertakings with minimum fixed assets of Rs.1 crore; or minimum total turnover of Rs. 10 crore; or minimum paid–up share capital of Rs. 50 lakhs; or such other institutions or organization as may be approved by the Council from time to time. The period of industrial training may range between 9 months and one year. The industrial training shall be received under the member of the Institute. An associate who has been a member for a continuous period of at least 3 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. There should be an agreement of industrial training in Form No.104. On satisfactory completion of industrial training by an articled/audit assistant, the associate/fellow member under whom the industrial training is received shall issue a certificate in Form No.105 in respect of the training undergone. It is required to maintain details of work undertaken and training received in the prescribed format.

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