industrial training

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Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2010 i am a pcc student almost 2 years 2 months articalship were completed,when can i shift into industrial training & tell me total procedure & stipend details

Ajay Mishra

Ajay Mishra (Expert)
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09 December 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.

Regards

Ajay Mishra

Ajay Mishra (Expert)
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09 December 2010 Hi

ARTICLESHIP TRAINING
A student has to undergo articled training for the period of three years along with theoretical education. The entire period of practical training can be served with a practising member or it can be served partly with a practising member and partly in an approved industrial establishment as an Industrial Trainee. The period of such industrial training may range between 9–12 months during the last year of the prescribed period of practical training. Only students of Final Chartered Accountancy Course are eligible for Industrial training. A person registered as an articled assistant is entitled to receive a minimum monthly stipend as per the rates specified under the Chartered Accountants Regulations, from time to time. The current minimum rates of monthly stipend payable, depending on the situation of the normal place of services of the articled assistants, are as follows:
Classification of the normal place of
service of the articled assistants Stipend payable per month to articled assistant
During the first year of training During the second year of training During the remaining period of training
1. Cities/Towns having population of 20 lakhs and above Rs. 1000 Rs. 1250 Rs. 1500
2. Cities/Towns having population of 4 lakhs and above but less than 20 lakhs Rs. 750 Rs. 1000 Rs. 1250
3. Cities/Towns having population of less than 4 lakhs Rs. 500 Rs. 750 Rs. 1000

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Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2010 thank u sir
it is helpful for me 2 judge

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