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krishna yadav (Querist)

10 June 2016 sir, I have completed my 1 year articleship now due to financial problems I have decided to take transfer and take a gap of 7-8 months before continuing my article with other firm......so what will be the consequence and whether the 1 year completed will be counted as article ship period....??

Sathish M

Sathish M (Expert)

10 June 2016 Before taking next step, read the below ICAI circular:

Transfer/Termination of Articleship
[Regulation 56(1)]
In accordance with the decision of the Council, the transfer/termination of articleship in terms of Regulation 56(1) of the Chartered Accountants Regulations, 1988 shall be permissible to an articled assistant on satisfying any one or more of the conditions as stated below: - Medical grounds requiring discontinuance of articles for a minimum period of three months (on production of a Medical Certificate issued by a Government Hospital).
Transfer of a working parent to another city involving a distance of minimum 50 kms (on production of a certified copy of the transfer order and the proof of relocation to another City).
Misconduct involving moral turpitude.
Other justifiable circumstances / reasons: - Grounds already permissible in the Chartered Accountants Regulations, 1988 (on submission of requisite proof of the act warranting transfer/termination of articleship): - Industrial Training (Regulation 51)
Secondment of articles (Regulation 54)
Conversion from PCC to IPCC (for termination of articles only. Re-registration of articles to be allowed only after passing Group-I of IPCC)
Death of Principal [Regulation 57(1)(c)]
Ceasing of practice by the Principal [Regulation 57(1)(a)]
Removal of name of the Principal from the Register of Member due to any reason [Regulation 57(1)(b)]

Marriage basis (only if there is relocation to another city involving distance of 50 kms).
Irregular payment or non payment of stipend with reference to Regulation 67.
Articled assistant desires to serve balance period of training outside India.
Shifting by the Principal to another city involving distance more than 50 kms.

The articled assistants are required, in the first instance, to get the consent of the Institute before getting Form 109 signed by the Principal, in their own interest.

The request, on any one or more of the aforesaid grounds, of an articled assistant on a plain paper with recommendations of the Principal for transfer / termination of articleship accompanied by evidence/proof (self-attested by the articled assistant) to the satisfaction of the Institute be made.

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