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3.1 ELIGIBILITY TO TRAIN ARTICLED ASSISTANTS (AS PER THE REVISED REGULATIONS)
The Chartered Accountants Regulations, 1988 with regard to the eligibility to train the articled assistants has been amended vide Notification dated 17th August, 2007 and as per the amended Regulations, the eligibility of practicing member to train articled assistant(s) is as under.
TABLE-I
(Applicable to members practicing the profession of chartered accountants in his individual name or as proprietor or as partner)
|
Category |
Period of continuous practice of an Associate or a Fellow member |
Entitlement of articled assistant or assistants |
|
(i) |
for a period up to 3 years. |
1 |
|
(ii) |
for any period from 3 years to 5 years. |
2 |
|
(iii) |
for any period from 5 years to 10 years. |
7 |
|
(iv) |
for any period from 10 years. |
10 |
TABLE-II
(Applicable to members who are in full time salaried employment under a chartered accountant in practice or a firm of such chartered accountants)
|
Category |
Number of full time salaried employees —irrespective of whether associate or fellow |
Entitlement of articled assistant or assistants |
|
(i) |
Up to 100 |
1 per employee |
|
(ii) |
Between 101 and 500 |
100 +50% of such employees above 100 |
|
(iii) |
From 501 or more |
300+20% of the number of such employees |
Stipend payable would be as under:
Sr.No.
Classification of the normal place of the
service of the articled assistantDuring the first
year of trainingDuring the second
year of trainingDuring the remaining
period of training(i)
Cities/towns having a population of twenty lakhs and above
Rs. 1000
Rs. 1250
Rs. 1500
(ii)
Cities/towns having a population of above four lakhs but less than twenty lakhs
Rs. 750
Rs. 1000
Rs. 1250
(iii)
Cities/towns having a population of less than four lakhs
Rs. 500
Rs. 750
Rs. 1000
3.2 PRACTICAL TRAINING RECORD (REGN. 64)
A weekly record of practical training of the Articled/Audit Clerks is required to be maintained, specifying the areas in which the articled clerk has obtained work experience and a report of the practical training is to be enclosed with Form 108/109, in cases of completion/termination.
From April, 2010 no condonation will be given for delay in Submission of form 112 by articled/audit clerks pursuing courses than CA. (Sec. Regulations 65 & 78).
No transfer of article clerks allowed w.e.f. 1.5.2009
Students /article clerks have to ensure that coaching classes they join/ attend should not have timing between 9.30 am to 5.30 pm. Such timing is not permissible to students during their training period.
please find attached file for,institute manual for members,which consists of,
(Regulation 43, 51, 54A, 55, 57, 68 & 72
I have read all the regulations concerned, but I wanted to know about any amendments related to my Question, of engaging 2 more articles, beyond 10.
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