03 January 2021
Sir I wanted to take transfer ( within 1 year ) . If I rejoin after 4 or 5 months do I need to pay fine ? Or it's regarding after submission of 102 form?
12 July 2024
If you are planning to take a transfer of articleship within 1 year of initial registration and rejoin the articleship after 4 or 5 months at the new firm, here are the key points regarding fines and penalties:
### Transfer of Articleship within 1 Year:
1. **No Fine for Transfer**: There is generally no specific fine or penalty imposed for transferring your articleship within the first year.
2. **Submission of Form 102**: Form 102 is required for re-registration after termination of the previous articleship. This form needs to be submitted within 30 days of the termination date.
3. **Rejoining After 4-5 Months**: If you are rejoining the articleship at the new firm after 4 or 5 months of the termination date of your previous articleship, ensure that you submit Form 102 within 30 days of termination. This is important to maintain continuity and compliance with ICAI regulations.
4. **Continuity in Training**: It’s crucial to maintain continuity in your articleship training to avoid any disruption in your professional development and eligibility for exams.
### Key Considerations:
- **Form 102 Submission**: Submitting Form 102 within the stipulated timeframe is essential. This form ensures that your re-registration is processed smoothly and that there are no gaps in your articleship training record.
- **No Fine for Timely Transfer**: As long as you transfer within 1 year and comply with the Form 102 submission requirement, you should not incur any fines or penalties.
- **Contact ICAI if Unsure**: If you have specific concerns or questions regarding the transfer process or compliance requirements, consider contacting the ICAI helpline or your regional office for clarification.
By following these guidelines and ensuring timely submission of Form 102, you can navigate the articleship transfer process effectively and continue your professional training without interruptions.
CAclubindia
