What is the CA Articleship stipend as per ICAI? - TaxGyata

1. www.taxgyata.com/ What is the CA Articleship stipend as per ICAI? A student pursuing a Chartered Accountancy course is required to complete 3 years of Articleship training under practicing Chartered Accountant (principal). A CA Article will get a fixed monthly sum (stipend) from his principal in return for work done by him. Articleship is the learning period and the experience which CA Articles get during their training period is precious. Despite the fact that the Articleship training period is 3 years, CA student is eligible to appear for CA Final Exams after the completion of 2.5 years of training. When is a CA student eligible to commence Articleship training? CA student is eligible to start his Articleship under a practicing Chartered Accountant if he satisfies any of the following conditions- He has passed either of the groups of CA Intermediate Examination. (CPT route) He is a Commerce Graduate with 55% or more average marks or other graduate with 60% or more marks. (Direct entry student) He has passed ICMAI Intermediate or ICSI Intermediate examination. (Direct entry student) Minimum stipend amount for CA Article trainees The Institute has set a minimum monthly stipend amount that must be paid by a principal to his Articles every month. The same is given below in tabular form - Stipend Payable per month During the first year of training Classification of the normal place of service of the Articled Assistant Cities/Towns having population of 20 lakhs and above Cities/Towns having population of 4 lakhs and above but During the second year of training During the remaining period of training Rs 3,000 Rs 2,000 Rs 2,500 Rs 1,500 Rs 2,000 Rs 2,500

2. less than 20 lakhs Cities/Towns having a population of less than 4 lakhs Rs 1,000 Rs 1,500 Rs 2,000 1. The amount stated in the above table is the monthly Articleship stipend which is required to be paid every month in the 1st, 2nd and 3rd year of training. 2. No stipend shall be payable for any excess leaves taken. 3. In case of Articleship transfer, the period of Articled training of the student under any previous principal or principals shall also be taken into account. Mode of payment of stipend The stipend shall be paid by the CA to his Articled assistant by any of the following modes: (a) A crossed account payee cheque every month against a stamped receipt to be obtained from the Articled assistant. (b) Depositing the amount every month in an account opened by the Articled assistant in his own name with a branch of the bank to be specified by the CA. Is there any higher limit for a stipend of the CA Article? There is no higher limit and a CA employer is free to pay any stipend amount to his Article assistant subject to compliance with the minimum amount of stipend fixed by ICAI. Like, the average monthly stipend offered by Big 4 CA Firms is Rs 15000. CA Articleship Stipend, CA Article Stipend Source: https://www.taxgyata.com/ap/what-is-the-ca-articleship-stipend-as-per-icai/