With the Economy back on track, the Companies have again started hiring employees giving them fatter pay packages. But one thing which the Companies learnt from the Recession of 2008 is that it is better to hire a knowledgable CA rather than opting for a presentable MBA.
And these Companies have not only recognised the potential of a Qualified CA's , but also the potential of future CA's ie the CA Students themselves. Rather than hiring MBA's as trainees, they are now hiring CA's as Trainees. And this form of Training is recognised by ICAI and is counted as a part of Articleship Training. This form is training is referred to as Industrial Training.
However, this form of Training can be pursued only in the last of year of Articleship.The minimum time duration for the same is 9 months and the mximum being 12 months.
To avail Industrial Training, a student has to submit Form 104 with ICAI and on satisfactory completion of the Training,member under whom the industrial training is received shall issue a certificate in Form No.105 in respect of the training undergone.
CAclubindia
