Partnership firm of cas..

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This query is : Resolved

CA Deep Upadhyay (Querist)

14 August 2011 Sir, one of my friends has been offered a partnership by one well established CA firm (currently having 2 partners). My friend was working assistant in that office for the period around 3 years when he was not a chartered. Now he has cleared CA finals. His bosses are asking him to frame a reasonable offer. On that basis he shall be judged. He is required to work as office's internal affairs manager. (In short as a link between bosses level and staff). My friend is not required to invest even a penny in the firm.
Sir, on what basis profit sharing ratio of partners be decided in the CA firm. This is very sensitive matter as the bosses gonna judge him on basis of offer he frames.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

15 August 2011 First of what he was getting before qualifying as a partner is also material. Considering the market value of a C.A post qualification he should give his offer. What is the size of the firm is also not given (revenue wise).

Anyhow he should give an offer Salary + 10% profit. The salary should be around 60,000/-

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