@ Satish M...You rule boss...Saved me a few words.
@ others : Actually at least at the time I registered myself for the articleship, there was no information on this topic. I read the CA act, two times and I could not find it. I also searched for such guideline by insitute and I found none. Then I asked a board member and he suggested, that there was no such restriction even in his knowledge.
In fact I myself got registered with my father's firm.
@ To people who wants to know how you feel at the end of the tunnel:
Pros:
1.I was able to work for my father who needed my assistance and I actually was working with him from 10th vacation onwards, so joining any other office felt like cheating.
2.I did not feel guilty that I was working for peanuts, the feeling I would have had, had I actually joined any other firm.
3.My father initially was aggressive with me and did not allow me to handle any single work completely but that changed later and I infact got better exposure with what all types of work we had.
Cons:
1.I always felt guilty that I am not struggling as others were, since being a father my principal could not be that hard on me unless it was floods of work.. Also we did not have any bank audit or too many co-operative audits which I would have like to gain more exposure in.
2.The biggest problem but was exposure to new opportunities or new types of work for which I would had to leave my city which was unacceptable to my parents.
3.I was not paid a single rupee during my articleship period effectively since my expenses were completely controlled by my father so rs.1500 cheque was just a formality for me.
4.I had to work according to his hours which were normally upto 3 am daily, all sundays and during audit months only 4 hours sleep, but then I guess most of us had to do it.
5.I was always promised that I will get many full days for my own studies, but I never saw one actually.