LEAVE PERIOD -Reply Immediately

Final 3016 views 6 replies

Guest

I have a query regarding leave. One of my friends articleship started from 1st October 2006 and ends on September 30th 2009. Her final exam attempt is due on November 2008. She availed leave already for 4 months (exactly 104 days excluding Sundays.) from November 2007 to February 2008. How may days can she avail leave in order to prepare for her exams due in Nov 2008 between July 2008 and November 2008 as per ICAI regulations?

Can anyone tell me about leave availing provisions applicable for artlcleship students in detail as per ICAI rules, regulation/guidelines?

Replies (6)

hemanth

student

43 Points Joined April 2008

hi,

check the icai website for it. she can take how much ever leave she wants, and later has to do extra articleship for the extra leave period.

ram rahim

Article Assistant

188 Points Joined November 2007

Hi lavanya,
follow the following formula to calculate the leave available for ur friend:
Illustrative cases of computation of leave for 3 years of aticleship training
Case I Days
A. Total number of days served                                  (365×3) 1095
B. Less: Total leave taken (other than weekly
holidays)                                                                                     188
C. Actual Period served   (A-B)                                                  907
D. Entitlement of leave (1/6th of the actual
period served) (907/6)                                                                151
EXCESS LEAVE: (B - D)                                                              37

Guest

Hi Nikhil,

As per Training Guide, what you have told is correct. Whereas, as per ICAI website one can avail leave for a period of only 1/7 of actual period served. I am a bit confused about the leave period and which guidelines do we need to follow either ICAI or Training guide ?

ram rahim

Article Assistant

188 Points Joined November 2007

Hi Lavanya, the best solution is to talk to ICAI. I don't know where you are loacted..but try to call you ur regional ICAI office annd seek clarification...at my firm the calculation is bases on the formula in training guide...

gaurav gunjan

student

0 Points Joined June 2008

i m also confused in this regard because as per student mannual supplied by the institute total leave allowed be 1/6th of actual period of service but as per regulation 59 & 74 issued by the institute its 1/7th of actual period served

Deepak T. Gulabani

Student

43 Points Joined August 2007

5.4 The articled/audit trainee shall ensure that the total leave taken by him during the period of articleship shall not exceed one-seventh of the total period of actual service, together with leave due under Regulation 59(2)/74(2).

Source : https://www.icai.org/resource_file/11447p742-745.pdf

In simple : as per my calculation No of days of Service / 6