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industrial training

machender (student) (190 Points)

22 September 2009

I have joined articleship training on 07th September, 2007 and my Articleship will be completed by 06th March, 2011. i would like to do industrial training but my sir said that he is going to extend my articleship by three months. by considering these conditions please advice me when should i give notice to my Principal and when can i be able to start my industrial training.

please do the needful.

with regards

B.Machendar

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CA Swapnil (job ) (1205 Points)
Replied 22 September 2009

ON : 22 September 2009 at 11:38 Quote
/forum/message_display.asp?group_id=48931 pls see the above link....industrial training minimum for 9 months & maximum for 12 months in the last year of articleship

Swapnil Shah ( pune) CA FINAL STUDENT & KNOWLEDGE ENTHUSIAST [edit] [edit photo] [ Scorecard : 781]	ON : 22 September 2009 at 11:40 Quote
	INDUSTRIAL TRAINING What is industrial training? 53. What are the objectives of industrial training? ï‚· opportunity to develop a problem solving attitude and to have an insight into the functioning of the accounts department. ï€ Training in an industrial / commercial / financial environment provides the trainees with the ï‚· and correlation with members of other professions and disciplines. ï€ It also diversifies their practical experience and helps them in developing the attributes of team work ï‚· ï€ It is intended to provide the trainees with a new dimension to their experience. ï‚· establishments in a phased and systematic manner. ï€ This would necessarily involve exposure of trainees to the entire gamut of activities of industrial ï‚· view of its operations. ï€ An exposure to the working environment of a large commercial organization will give them an integrated ï‚· enterprises, recognizes that perception of the overall business environment is the prime objective of such training. ï€ It is essential that the member imparting training in industrial including commercial and financial 54. When can an articled assistant commence industrial training? An articled assistant after passing PCE can undergo industrial training during last 9-12 months of articled training. 55. Is it required to take prior permission of the MIT / Principal for joining an industrial training? Yes. An articled assistant shall intimate to the MIT / Principal about his intention to undergo industrial training at least 3 months before the date on which such training is to commence. 56. What is the specified size of the organization where in industrial training can be performed? 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. 57. What is the duration of the industrial training? 15 The period of industrial training may range between 9 months to 12 months. 58. Should industrial training be received under the member of the Institute? Yes. 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. 59. is available in Form No.102)? Is there any agreement of industrial training just like Deed of Articles (standard format of which Yes. It is Form No.104. Refer to Training Guide for a specimen copy of this Form. 60. Is there any industrial training completion of certificate? Yes. 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. Refer to Training Guide for a specimen copy of this Form. 61. Is it required to maintain any industrial training record? Yes. It is required to maintain details of work undertaken and training received in the prescribed format. Refer to Annexure VII of the Training Guide. Record of the industrial training should be signed by the Principal (the associate / fellow member under which the industrial training is received) in all circumstances. It is a training scheme by which a student can undergo practical training within an approved industrial undertaking having specified amount of fixed assets or turnover or paid – up share capital.

machender (student) (190 Points)
Replied 22 September 2009

Mr.Swapni Shah, thanks for your clarification, i have one more querry can u clearify me regarding extension of articleship and Industrial training. if my principal extends my articleship tennure my articleship will be completed by 06th June, 2011 while counting the 9-12 months period will they consider the extension of articles.

thanks in advance

Sumit Jain (CA) (4760 Points)
Replied 22 September 2009

thanx swapnil

CA Maya Shinde Mudliar (CA) (107 Points)
Replied 22 September 2009

hi....

i m doing industrial training and even i hv faced same problems as u r describing.... for considering period of industrial training u hv to add ur extended period too as my articleship has got extended for 2mths..... but i would like to knw more details of ur leave etc... so i can clearify u in more detail....

and regarding giving notice to ur CA, as per rule it has to be given 3mths before joining industrial training... but CA doesnt consider it they allow u.....