Part time COP and Head ige of firm

Hey Lalit! Thanks for sharing your situation—sounds like you’re juggling a few roles simultaneously.

Here’s a breakdown:

Your current situation:

• You were Head Incharge of your own CA firm from 1st Feb to 28 Feb.

• On 28 Feb, you converted your sole proprietorship into a partnership and changed the head in charge.

• Meanwhile, from 1st Feb, you also joined another CA firm as a paid assistant.

• Your employer at the other firm is not ready to release you from 1st Feb.

What does this mean legally and practically?

1. Engagements with Two Firms at the Same Time?

   • As per ICAI guidelines, a CA cannot be head in charge of more than one firm simultaneously.

   • Being a paid assistant in one firm and head in charge in your own firm may raise conflict issues, depending on work nature and commitments.

2. Employer Not Releasing You:

   • If your employer is not willing to relieve you immediately, legally you are bound by the terms of your employment contract.

   • You may face issues with your professional registration, continuity in services, or even professional ethics if there is overlap or non-disclosure.

3. What Can You Do Now?

   • Try to negotiate an exit date with your employer or check your employment contract for notice period clauses.

   • If possible, serve the required notice period to maintain professionalism and avoid breach.

   • Keep your ICAI informed if there is any conflict or if you are holding dual positions.

4. Consequences if You Don't Resolve:

   • Possible disciplinary action by ICAI if there is any conflict of interest or breach of ethics.

   • Risk of non-compliance with ICAI’s Code of Ethics.

   • Potential legal dispute with your employer for breach of contract.

Summary: