industrial training or articleship

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Querist : Anonymous

Querist : Anonymous (Querist)

11 November 2010 I need advise as to which whether i should opt for industrial training or i should continue with articleship with my present principal as i have exhausted my leave period allowed by the institute and want to know that if i require any leave during industrial training how it will be adjusted as excess leave is to be adjusted during articleship period

Ajay Mishra

Ajay Mishra (Expert)
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11 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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