LEAVE PERIOD -Reply Immediately

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.

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

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 ?

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

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