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Payment of membership fees

amit (sddsfd) (116 Points)

03 May 2013

Dear Sir,

I have recently become CA, and now I have got one Letter from ICAI, making me aware about due dates payment of Membership Fees.

I have one doubt, if I won't pay membership fees at all as I still in search of good job, and further I have to serve my family too and alredy need of funds due to some unavoidable family celebrations which is Important.. I only the earner of My Family. Do I avoid in payment of membership fees and If I avoid it, then what Institute will act aginst me. Will it harm my carrer or create any problems in future or charge penalty or interest if any if I have missout the due date.

Please make me aware about its Impacts. Please reply

Regards

Arvind

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6 Replies

amit (sddsfd) (116 Points)
Replied 03 May 2013

Dear all

Why nobady answering my querries but only viewing. It is true and practical situation which I am facing right now. Is my situation so difficult that having no answer, or nobody don,t know the answer. Is it so difficult one

CA Dimple Thacker (It's Never Too Late) (506 Points)
Replied 03 May 2013

amit,

For 2013-14:

Associate Membership Fees is Rs. 800/- And

COP Fees is Rs. 2000/-.

You have to pay this before 30/09/2013.

If you are not holding COP than you have to pay Associate Membership Fees Rs. 800/-.

1 Like

amit (sddsfd) (116 Points)
Replied 03 May 2013

Dear Dimpal

Thank you for answering, but what you are stating is same as that stated in letter of Icai too which I alreday aware, but that is not my problem. I know fees and how to pay it too. But I need suggesstion what if I wont pay it.

Please ansewer. my problem not just information

CA Dimple Thacker (It's Never Too Late) (506 Points)
Replied 03 May 2013

Due to non-payment of annual fees latest by 30th September, name of member is removed. After that one has to follow the procedure for Restoration of Name.

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Sathish M (Management Accountant) (40581 Points)
Replied 05 May 2013

PROCEDURE FOR RESTORATION OF MEMBERSHIP

Restore your Membership and enjoy the benefits that a Chartered Accountants enjoys

Discontinuance of the membership has excluded you from the privileges/benefits that a Chartered Accountant enjoys and also deprives you, from the participation in the Institute's activities and programmes designed for dissemination of knowledge, professional development and continuing professional education

Equally important, this has deprived the profession and the members of the benefits of your knowledge and experience, in the field of your specialization, which would have resulted had you participated as a member

Through the membership of the Institute you are also entitled for monthly journal of the Institute 'The Chartered Accountant' and the monthly newsletters of Regional Councils and of Branches of the Institute, free of cost, participation in the conferences, seminars and other programmes organized by the Institute, Regional Councils and/or Branches at concessional rates; regular update of programmes being organized and initiatives taken from time to time for the benefit of the profession and members; emerging professional opportunities, practice area development, publications of the Institute, recently announced/benefits from CABF, Group Insurance Scheme (on payment of additional contribution); issuance of Identity Cards, etc.

The Institute has taken number of initiative for the benefit of its members in the industry. These include campus recruitment, advance career employment facilitation mechanism, industry specific training programmes, technical publications and documentations.

You would appreciate that membership of the Institute gives a proud feeling of being a part of the profession.

You are invited to apply and again become member of the Institute. Please print the Form No. 9 and update the particulars wherever necessary (e.g. Change of address if any). All you have to do is sign the said form 9 and send it to the concerned Decentralized Office at the address given therein alongwith the local cheque/DD for the amount indicated in the form 9 and in favour of Secretary, ICAI, payable at the place where the concerned DCO is located.

Should you have any clarification/information, please feel free to mail at mss @ icai.in

1 Like

Sathish M (Management Accountant) (40581 Points)
Replied 05 May 2013

Mr.Amit you are apprehensions are unwarranted in terms of any action taken by Institute in case you avoid payment of annual renewal fees.

As explained above by some of the learned members your name will be removed from the Members registry of the Institute, in case if you fail to pay the Membership fees by due date (i.e. 30th September).

Whether, you wish to continue as a member of the Institute or not, it is your sole discretion.

1 Like