Industrial training

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Adity Pal (Querist)
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16 March 2013 Dear sir,
I am in CA Finals, and my attempt is due on novemver 14.. i have complete d 1 yeear odf articleship on 1st march 13.. and i want to go for industrial traing in my last year.. please tell me how earliest can v apply for it and what is the procedure for this.
URGENT!

Ajay Mishra

Ajay Mishra (Expert)
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17 March 2013 Hi

ELIGIBILITY AND OTHER CONDITIONS FOR UNDERGOING INDUSTRIAL TRAINING

(i) An articled assistant who has passed the Integrated Professional Competence Examination / Professional Competence Examination/ Professional Education (Examination - II) or Intermediate examination can serve as an Industrial trainee in any of the financial, commercial, industrial undertakings as may specified by the Council or such other institution or organization as may be approved by the Council from time to time.
(ii) Articled assistant before proceeding for Industrial Training has to intimate his principal at least three months before the date on which such training has to commence.
(iii) Minimum period of Industrial Training may range between nine months and twelve months during the last year of prescribed period of practical training.
(iv) The Industrial Training shall be received under a member of the Institute. An Associate who has been a member for a continuous period of at least three years is entitled to train one industrial trainee and fellow is entitled train two industrial trainee at a time, whether
such trainees are articled assistants or audit assistants.
(v) An agreement of training is to be entered in the approved form i.e. Form No. 104
(vi) On satisfactory completion of industrial training, the principal has to issue service certificate in the approved form i.e. Form No. 105.
Industrial training also offers an opportunity to the trainees to take part in specialised accounting exercises. Thus, for instance, the closing of accounts provides an opportunity for them to acquire the skills necessary as a concomitant to the theoretical knowledge which they have acquired earlier.
Industrial training may also expose the trainees to management accounting, cost accounting, management information system, EDP, etc. It also provides an opportunity to them to participate in the work relating to corporate laws, taxation and secretarial practice.

Adity Pal

Adity Pal (Querist)
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17 March 2013 Thank u sir, for ur reply..
Bt i also want to know, that on 1 st march 2014 i will complete two years of training, so i have to inform my principle in december for the industrial training, will we allow me for that.. n if he allows that then after conpletion of industrial training he will give me the service certificate??
please also tell me that how do i get the list of industries giving this training...

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Ajay Mishra

Ajay Mishra (Expert)
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18 March 2013 Hi

You inform your principal in beginning of December or end of November of your intention for Industrial Training.

You can use your personal link or contact to the Institute for knowing any vacancy.

Adity Pal

Adity Pal (Querist)
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19 March 2013 Thank you sir for ur suggestion..
one more thing i want to know is if i enter into industrial training then will they give me time for finals preparation.
I heard that in industrial training the wont allow any leaves or concession of classes n exams.. my attempt is due in nov 14.. i want to explore more, but very confussed n nervous.. please guide me, dnt want to take wrong step.. also i want to know, in industrial training who will give me the stipend.. my principle or the company under whom i will b undergoing the training..
Please do reply

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Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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01 August 2024 I understand that you're navigating a crucial phase in your CA journey. Here’s a comprehensive guide to address your concerns about industrial training:

### **1. Timing and Application:**

#### **When to Apply:**
- **Earliest Application:** You can start applying for industrial training as soon as you complete two years of articleship. Since you completed one year on March 1, 2013, you’ll complete two years on March 1, 2014. Ideally, start applying at least 3-6 months before this date to secure a position.

#### **Procedure:**
- **Research Companies:** Look for companies that offer industrial training opportunities. Check their career websites or job portals for openings.
- **Prepare Documents:** Update your resume and prepare a cover letter. Gather documents like your articleship completion certificate and any other relevant documentation.
- **Apply:** Apply through the company's career portals or contact their HR department directly.

### **2. Coordination with Your Principal:**

#### **Informing Your Principal:**
- **Notice Period:** Inform your principal about your intention to pursue industrial training well in advance, ideally around December 2013.
- **Relieving and Certificate:** If your principal agrees, they should provide you with a relieving letter and a service certificate upon completion of your articleship. This is crucial for ICAI compliance.

### **3. ICAI Procedure:**

#### **Form 105:**
- **Completion:** After securing a position, complete Form 105 (Application for Registration of Industrial Training) on the ICAI website.
- **Submission:** Submit Form 105 with the required documents to ICAI to officially register your industrial training.

### **4. Finding Industrial Training Opportunities:**

#### **Sources:**
- **ICAI Resources:** Check the ICAI website or contact ICAI chapters for information on industrial training opportunities.
- **Networking:** Leverage LinkedIn, professional networks, and contacts within the industry for leads.
- **Company Websites:** Explore career pages of major firms and companies known for offering industrial training.

### **5. Leaves and Exam Preparation:**

#### **Training Policies:**
- **Leave Policy:** Companies may have strict leave policies during industrial training. It's essential to clarify this during the interview process.
- **Exam Preparation:** While companies may have strict attendance policies, it’s important to negotiate time off for CA final exam preparation. Some companies might offer study leave or flexibility during crucial periods.

### **6. Stipend:**

#### **Stipend Details:**
- **Payment Source:** The stipend will be paid by the company where you are undergoing industrial training, not by your principal.
- **Amount:** The amount can vary based on the company and the industry.

### **7. Potential Challenges:**

#### **Balancing Training and Exams:**
- **Workload Management:** Balancing industrial training with exam preparation can be challenging. Discuss your study needs with the company during the application process to ensure they can accommodate your requirements.

#### **Confusion and Nervousness:**
- **Guidance:** It's normal to feel nervous. Seek guidance from seniors or mentors who have undergone industrial training. They can provide valuable insights and support.

### **Summary:**

- **Apply Early:** Start applying for industrial training positions 3-6 months before completing your articleship.
- **Coordinate with Principal:** Inform your principal about your plans in advance and get the necessary documents.
- **Apply to Companies:** Use various sources to find and apply for industrial training opportunities.
- **Negotiate Terms:** Discuss leave policies and study needs with potential employers.
- **Stipend Information:** The stipend will be provided by the company offering the training.

By following these steps, you can effectively manage your transition to industrial training and ensure it aligns with your CA final preparations. If you have any more questions or need further clarification, feel free to ask!