A student pursuing chartered accountancy course has to undergo compulsory 3 years of training as an articled assistants under a chartered accountant in practice. As per ICAI regulations, chartered accountant under whose supervision such trainings are carried on are required to pay stipend to articled assistants.
On 23rd January 2015 the Council, with the approval of the Central Government, makes changes to the Chartered Accountants Regulations, 1988. Due to this following changes are now in force from 23rd January 2015;
In regulation 48, in sub-regulation (1), which deals with stipend to articled assistants, following changes are carried on;
Classification of the normal place of service of the articled assistant |
Stipend Payable Per Month |
||
During the first year of training | During the second year of training | During the remaining period of training | |
Cities/towns having apopulation of twentylakhs and above | Rs 2000 | Rs 2500 | Rs 3000 |
Cities/towns having apopulation of four lakhsand above but less thantwenty lakhs | Rs 1500 | Rs 2000 | Rs 2500 |
Cities/towns having apopulation of less thanfour lakhs | Rs 1000 | Rs 1500 | Rs 2000 |
On this issue a draft regulation were published on 10th September 2014 by inviting objections and suggestions from persons likely to be affected thereby within 45 days from the date of publication of draft regulation.
After receiving objections and suggestions from public, the said draft regulations have been considered by the Council of the Institute of chartered accountants of India (ICAI) to make above changes for stipend to articled assistants.
With this change now stipend to articled assistant pursuing chartered accountancy course has now been doubled compare to last stipend eligibility.
Earlier a chartered accountant student during his or her training period or while working as an articled assistant use to get following stipend from chartered accountants based on the location of firms;
Classification of the normal place of service of the articled assistant | Stipend Payable Per Month | ||
During the first year of training | During the second year of training | During the remaining period of training | |
Cities/towns having apopulation of twentylakhs and above | Rs 1000 | Rs 1250 | Rs 1500 |
Cities/towns having apopulation of four lakhsand above but less thantwenty lakhs | Rs 750 | Rs 1000 | Rs 1250 |
Cities/towns having apopulation of less thanfour lakhs | Rs 500 | Rs 750 | Rs 1000 |