benefits of unrestricted transfer for 1st year

Articleship 1549 views 10 replies

SIVASIVA

FCA Future CA

4935 Points Joined March 2010

As many members are criticising the new announcement regarding the Unrestricted transfer during the first year of articleship. I just want ot share a point which i think my FELLOW MEMBERS will agree.

The students who had known that the firm (which they have registered initially and working) is very difficult and impractible to manage will not waste their rest of the substantial period of their Training in that firm. They may learn a lesson as to how a CA student should select an Audit Firm and appropriately select the new firm.

any way let us share the views here so that who ever is joining articleship will know or will be alerted.

Replies (10)

jose.p

CA in service

1676 Points Joined April 2008

What about those pcc students majority who were hit by the transfer ban as on march 28,2009; they are still stuck . This is injustice and slavery.

sakthi

article ship

35 Points Joined February 2009

the one year period inclusive of leaves or exclusive of leaves

RAKESH

Almost CA

2199 Points Joined October 2008

ICAI has made one more blunder by making this decision . They dont care about the PCC Students who holds the majority number in this profession . They should be relieved from this BAN.

Subhendu S Sanyal

B.Com(C.S.) CA FINAL

666 Points Joined February 2009

I have a query ..Someone pls clarify.Given below is an extact of ICAI's announcement:

I.Transfer /termination of articles is permitted without any restriction during the first year of articles.

II. During rest of the articleship period on satisfying any one or more of the conditionsas stated below: -

4. Other justifiable circumstances :

(ii) Grounds already permissible in the CA Regulations, 1988 (on submission of requisite proof of the act warranting transfer/termination of articleship): -

a. Industrial Training (Regulation 51)

b. Secondment of articles (Regulation 54)

c. Conversion from PCC to IPCC etc etc...

I am not able to understand the diff between transfer & secondment..secondment means wat..???

Subhendu S Sanyal

B.Com(C.S.) CA FINAL

666 Points Joined February 2009

I have a query ..Someone pls clarify.Given below is an extact of ICAI's announcement:

I.Transfer /termination of articles is permitted without any restriction during the first year of articles.

II. During rest of the articleship period on satisfying any one or more of the conditionsas stated below: -

4. Other justifiable circumstances :

(ii) Grounds already permissible in the CA Regulations, 1988 (on submission of requisite proof of the act warranting transfer/termination of articleship): -

a. Industrial Training (Regulation 51)

b. Secondment of articles (Regulation 54)

c. Conversion from PCC to IPCC etc etc...

I am not able to understand the diff between transfer & secondment..secondment means wat..???

Guest

Originally posted by : RAKESH
	ICAI has made one more blunder by making this decision . They dont care about the PCC Students who holds the majority number in this profession . They should be relieved from this BAN.

Siddharth

Get Digital Signature Certificates (DSC)

672 Points Joined January 2009

Originally posted by : SURENDARN SANYAL
	I am not able to understand the diff between transfer & secondment..secondment means wat..???

Secondment is the option where you get to work under another CA for a maximum of 12 months and a minimum of 9 months, your present principal keeps the records and signs your completion forms..

Transfer/ Termination is when you leave your firm completely.

Read here -

https://icai.org/resource_file/14485student_manual_14.pdf

Other regulations -

https://icai.org/post.html?post_id=734&c_id=117

BTW, in the first year it is generally all good.. The honeymoon period ends after a year.. Unless a firm has some article like me, the fresher is least likely going to think of taking transfer.. lol.

Subhendu S Sanyal

B.Com(C.S.) CA FINAL

666 Points Joined February 2009

After the new rules reg transfer, Can transfer be taken during first 6 months of articleship and within the same city..???

amrita

Article Assistant

91 Points Joined August 2010

I am an ipcc student started my articles in aug 2010. I dont wanted to continue in the same firm so asked my principal for transfer. He said he will not give transfer at any cost.

For IPCC students we can change our employer in the first year of our training.then wat does that mean???? if my present employer says no i hav to continue with him or what?????????

Transfer in the first year of articleship requires CONSENT OF PRINCIPAL????????????

Siddharth

Get Digital Signature Certificates (DSC)

672 Points Joined January 2009

Consent of the principal was and is a must requirement as he is supposed to sign the termination form, i.e. 109, even when there was no restriction on transfers/ terminations.

What the regulation means is, that ICAI will raise no objection if you send form 108, which is signed by the principal, who will sign that only if he/ she approves of it, i.e. give consent.