*ICAI Likely to Hike Stipend Rates from 2017:*
ICAI has categorised cities into three categories based on population census. These rates will replace the existing articleship stipend rates from mid 2017.
Stipend in Cities with Population above 25 lakhs
First Year of Articleship Rs.4,000
Second Year of Articleship Rs.4,500
Third Year of Articleship Rs.5,000
Stipend in Cities with Population 10-25 Lakhs
First Year of Articleship Rs.3,000
Second Year of Articleship Rs.3,500
Third Year of Articleship Rs.4,000
Stipend in Cities with Population below 10 lakhs
First Year of Articleship Rs.2,000
Second Year of Articleship Rs.2,500
Third Year of Articleship Rs.3,000
The decision to increase the current CA Articleship Stipend rates is in process for a very long time. There have been multiple suggestions and recommendations to increase the stipend as the current rates are not suitable for the increased cost of living in Indian cities.
The hike in CA Articleship stipend rates will likely be approved in late February and will become applicable likely from next May.
CAclubindia
