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Industrial Training

Ganesh ( Manager) (75 Points)

28 December 2010

I just wanted to make sure, whether industrial training for CA can be substitute for complusory articleship mandate under CA regulation. In short 3 years of industrial training qualifies for above mentioned articleship.

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6 Replies

* Krishna * (CA Student) (6149 Points)
Replied 28 December 2010

No. Industrial training is just part of the 3-year mandatory articleship. It is particularly allowed during the last year of articleship, if students willing to go for industrial training and for that we have to take the Principal permission also. Let other seniors also comment..

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Madhusudan Kabra (knowledge seeker) (1779 Points)
Replied 28 December 2010

maximum time for Industrial training is 12 month & minimum 9 months. it can only be possible in last year of articleship.

Approval of employer is not neccessry but 109 in require to be signed by employer .

Regards

MS Kabra

CA Shabeer (CA, M.com) (297 Points)
Replied 28 December 2010

and u should have cleared pcc/ipcc/ pe2. principal is informed atleast before 3 months

of training

Ajay Mishra (Company Secretary) (74337 Points)
Replied 31 December 2010

Industrial Training

Industrial training is a training scheme by which a student can undergo practical training within an industrial undertaking having specified amount of fixed assets or turnover or paid-up share capital. Industrial training can be commenced during the last one year of articleship. Industrial training can be performed in financial, commercial, industrial undertakings with minimum fixed assets of Rs.1 crore; or minimum total turnover of Rs. 10 crore; or minimum paid–up share capital of Rs. 50 lakhs; or such other institutions or organization as may be approved by the Council from time to time. The period of industrial training may range between 9 months and one year. The industrial training shall be received under the member of the Institute. An associate who has been a member for a continuous period of at least 3 years shall be entitled to train one industrial trainee at a time and a fellow shall be entitled to train two industrial trainees at a time. There should be an agreement of industrial training in Form No.104. On satisfactory completion of industrial training by an articled/audit assistant, the associate/fellow member under whom the industrial training is received shall issue a certificate in Form No.105 in respect of the training undergone. It is required to maintain details of work undertaken and training received in the prescribed format.

GURU PRANESH (FCA(FUTURE CA)) (459 Points)
Replied 31 December 2010

Industrial - Training

An articled clerk who has passed the Professional Education (Examination - II) or the Intermediate examination under these regulations may, at his discretion, serve as an industrial trainee for the period specified in sub-regulation (2) in any of the financial, commercial, industrial undertakings with minimum fixed assets of Rs. 1 crore; or minimum total turnover of Rs. 10 crores; or minimum paid-up share chapital Rs. 50 lakhs; or such other Institute or organisation as may be approved by the Council from time to time:

Provided that the articled clerk has intimated to his Principal his intention to take such industrial training at least three months before the date on which such training is to commence.";
The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training.
The industrial training shall be received under a member of the Institute. An Associate who has been a member for continuous period of at least three years shall be entitled to train one industrial trainee at a time and a fellow shall be entitled to train two industrial trainees at a time, whether such trainees be articled clerks or audit clerks.
An agreement of training shall be entered into in the form approved by the Council.
On satisfactory completion of the Industrial training, the member training the industrial trainee, shall forthwith issue to the trainee a certificate in the form** approved by the Council in respect of the training undergone under him and forward a copy thereof to the Secretary.
The period of industrial training referred to under this regulation, should be treated as service under articles for all purposes of these regulations, provided the certificate referred to in sub-regulation (5) is provided.