31 October 2012
I have completed 2 years of my articleship .A few days back, I had some words with an employee(CA) in my principal's office. The matter went a lil serious and my principal decided to terminate my articleship. He said me to either take transfer within a week or he shall terminate my articleship.
I want to know if i can take transfer for such reason, to another firm in the same city. What is the differnce b/w transfer and termination ? What if he terminates me ? Will i have o serve another 3 years of articleship ? A fresh start with frankinn ? Or is it just a halt in the 3 years term ?
01 November 2012
Transfer/Termination of Articleship - (12-05-2011) --------------------------------------------------------------------------------
ANNOUNCEMENT
Transfer/Termination of Articleship [Regulation 56(1)]
As informed earlier vide announcement dated 2nd July 2010, ICAI is allowing the articled assistants to seek transfer/termination of articleship only on permissible grounds and the articled assistants are advised to get the consent of the Institute before getting Form 109 signed by the Principal in their own interest.
However, it is noticed that some of the articled assistants are submitting Form 109 signed by the principal along with the application for transfer/termination of articleship. Issuance of Form 109 prior to formal approval of the Institute for transfer will not be taken into record.
It is advised that Principal and articled assistant may forward Form 109 duly signed by both of them only after obtaining the prior permission of the Institute for transfer/termination.
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