15 March 2013
I am looking for Industrial Training.Eligible from 9-8-2013.Further want to know the stipend,number of days of leave for exam and attending tutions permission. What do you suggest,since I have plans for Practicing and my current Firm has routine works? Also please suggest me few good companies offering Industrial Training in Bangalore?
ELIGIBILITY AND OTHER CONDITIONS FOR UNDERGOING INDUSTRIAL TRAINING
(i) An articled assistant who has passed the Integrated Professional Competence Examination / Professional Competence Examination/ Professional Education (Examination - II) or Intermediate examination can serve as an Industrial trainee in any of the financial, commercial, industrial undertakings as may specified by the Council or such other institution or organization as may be approved by the Council from time to time. (ii) Articled assistant before proceeding for Industrial Training has to intimate his principal at least three months before the date on which such training has to commence. (iii) Minimum period of Industrial Training may range between nine months and twelve months during the last year of prescribed period of practical training. (iv) 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 is entitled to train one industrial trainee and fellow is entitled train two industrial trainee at a time, whether such trainees are articled assistants or audit assistants. (v) An agreement of training is to be entered in the approved form i.e. Form No. 104 (vi) On satisfactory completion of industrial training, the principal has to issue service certificate in the approved form i.e. Form No. 105. Industrial training also offers an opportunity to the trainees to take part in specialised accounting exercises. Thus, for instance, the closing of accounts provides an opportunity for them to acquire the skills necessary as a concomitant to the theoretical knowledge which they have acquired earlier. Industrial training may also expose the trainees to management accounting, cost accounting, management information system, EDP, etc. It also provides an opportunity to them to participate in the work relating to corporate laws, taxation and secretarial practice.
A trainee earns leave at the rate of one–sixth of the period actually served by him. Leave due is ordinarily granted, if reasonable notice has been given by the trainee to his MIT / Principal.
In order to prepare for the examinations of the Institute, a trainee is granted leave for a period of 2 months or to the extend of leave due, whichever is less. However, the trainee should make an application for such leave at least 15 days in advance. The days on which a trainee appears for the examination conducted by the Institute (including intervening holidays) are counted as a period on duty.
Regulation 51 talking about Industrial Training such regulation not specified working hour of trainee doing industrial training. Regulation 60 deal with working hour of an article assistant which says that the minimum working hours of an articled assistant shall be 35 hours per week (excluding lunch break) which shall be regulated by the Principal from time to time, subject to such directions and guidelines, as may be issued by the Council. In details about working hour is here under:
i. The working hours for the articled assistants shall be 35 hours in a week, excluding the lunch break. ii. The office hours of the Principal for providing articled training to the articled assistants shall not generally be before 9.00 A.M. or after 7.00 P.M. iii. The normal working hours for the articled assistants shall not start after 11.00 A.M. or end before 5.00 P.M. iv. The working hours for the articled assistants should not exceed 35 hours in a week excluding the lunch break and normally an articled assistant be required to work during the normal working hours fixed for articled assistants. v. In case of the exigencies of work, an articled assistant may be required to work beyond his/her normal working hours. However, under such circumstances, the aggregate number of working hours shall not exceed 45 hours per week. The requirement to work beyond 35 hours in a week should not be a practice but only in exceptional circumstances. Further, where the articled assistant is required to work beyond normal working hours, and aggregate of such hours exceed 35 hours per week, he/she shall be entitled to compensatory leave calculated with reference to number of completed working hours, over and above, 35 hours per week.
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