09 July 2024
When transferring to industrial training (articleship) under the Institute of Chartered Accountants of India (ICAI), there are several formalities and considerations beyond just Form 104 (which is used for transferring articleship). Here are the key formalities and steps involved:
1. **Approval from ICAI**: The transfer of articleship requires approval from ICAI. Form 104 is used to apply for the transfer, and it must be duly filled and submitted to the appropriate Regional Council or Branch of ICAI.
2. **No Objection Certificate (NOC)**: You may need to obtain a No Objection Certificate (NOC) from your current Principal (employer) stating that they have no objection to your transfer. This is often required to demonstrate that the transfer is amicable and supported by your current employer.
3. **Transfer Application**: Fill out Form 104 completely and accurately. Ensure all details are correctly filled, including your personal details, current Principal’s details, proposed Principal’s details, reasons for transfer, and any supporting documents as required.
4. **ICAI Approval**: Submit the filled Form 104 along with the NOC and any other documents specified by ICAI to the appropriate Regional Council or Branch of ICAI for approval. Ensure that the application is complete and meets all requirements to avoid delays in processing.
5. **Joining Report**: Once the transfer is approved, you will need to submit a joining report to your new Principal within a specified time frame. This report confirms your acceptance of the new articleship position and starts the formal process under the new Principal.
**Completion of Formalities**: Make sure to complete any other formalities or documentation required by ICAI or your new Principal to formalize the transfer and ensure compliance with all regulations.
These steps ensure a smooth transition from one articleship position to another within the guidelines set by ICAI. It's essential to follow these steps carefully and seek guidance from your current Principal and the ICAI if you have any doubts or questions during the process.
CAclubindia
