Dear Friends,
If i go for industrial training in the last period of articleship, what is the maximum leave that can be taken during first tw years of articleship?
Thanks in advance.
Regards,
Swathi
2 Replies
(Guest)
Leave to an Articled Assistant Regulation 59 provides that an articled assistant earns leave at the rate of one - sixth of the period actually served excluding from such period, the period for which he has been on leave subject to a maximum of 180 days. Leave due shall ordinarily be granted, if reasonable notice has been given to the Principal by the trainee.
• In order to prepare for the examinations of the Institute, the trainees shall be granted leave for three months or to the extent of leave due, whichever is less, provided an application for the leave has been made at least 15 days in advance.
• The days on which a trainee appears for the examination conducted by the Institute (including intervening holidays) are counted as a period actually served under the Articles.
• Illustrative cases of computation of leave of Trainee are shown in Annexure I.
• The attendance by a trainee, with the consent of the principal, at a conference including courses on ITT and GMCS or seminars organised by the Institute, including a Regional Council or a Students’ Association or a Branch of a Regional Council for the benefit of students, is treated as a part of the training period actually served.
• The Principal should also encourage trainees during the practical training to attend conferences, seminars, etc., relevant to the chartered accountancy course.
• The details of the Seminars/Conferences attended by the student should be submitted to the Institute alongwith the Diary/Summary Report of Diary on completion of the Training period.
• A trainee who takes leave in excess of the leave to which he / she is entitled is required to serve for a further period equivalent to the excess leave taken by him / her.
(Guest)
Illustrative cases of computation of leave for 3 years of aticleship training
Case I Days
A. Total number of days served (365×3) 1095
B. Less: Total leave taken (other than weekly holidays) 188
C. Actual Period served 907
D. Entitlement of leave (1/6th of the actual
period served) (907/6) 151
EXCESS LEAVE: (B - D) 37
Case II
A. Total number of days served (365 × 3) 1095
B. Less: Total leave taken (other than
weekly holidays) 137
C. Actual Period served 958
D. Entitlement of leave (1/6th of the actual
period served) (958/6) 160
EXCESS LEAVE: (B-D) NIL
Case III
A. Total number of days served 700
B. Less: Total leave taken (other than
weekly holidays) 140
C. Actual Period served 560
D. Entitlement of leave (1/6th of the actual
period served) (560/6) 93
EXCESS LEAVE: (B-D) 47
Illustrative cases of computation of leave for 3 ½ years of articleship training Case IV Days
A. Total number of days served (365×3.5) 1277
B. Less: Total leave taken (other than
weekly holidays) 200
C. Actual Period served 1077
D. Entitlement of leave (1/6th of the actual
period served) (1077/6) 180
EXCESS LEAVE: (B - D) 20
Case V
A. Total number of days served (365 × 3.5) 1277
B. Less: Total leave taken (other than
weekly holidays) 170
C. Actual Period served 1107
D. Entitlement of leave (1/6th of the actual
period served) (maximum) (1107/6) 180
EXCESS LEAVE: (B-D) NIL
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