Industrial training

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2011 dear members,
i am a CA Final student and about to complete my 2 years articleship.
now i wish to go for Industrial Training.. so kindly explain the procedure for the same..
also explain the procedure of leave calculation as per ICAI.
thanks

Mohan Verma

Mohan Verma (Expert)
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07 September 2011 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 3 months before the date on which such training has to commence.

(iii) Minimum period of Industrial Training may range between 9 months and 12 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.