Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

Industrial training

Deepti (CA Job) (220 Points)

23 June 2009

My articleship period is gettg extended till 7th march.

Earlier it was goin to end on 7th feb 2010.I have got a letter from noida regarding provisional admission to ca final.they have askd to submit a form that i am serving the last 12 months of my articleship period.

so now what shud i write in the form ? 7th feb or 7th march?

wil i be eligible for industrial training?

can i do industrial training anywhere in india? or i wil have to do it from kolkata? kolkata is th eplace where i stay and gave my ca final exam from

pls help.i seriously want to do industrial training.

i have to send the form by 30th june. pls help

Reply
Follow
Share

4 Replies

BALASUBRAMANYA B N (CCI STUDENT....) (44679 Points)
Replied 23 June 2009

INDUSTRIAL TRAINING
52. What is industrial training?
It is a training scheme by which a student can undergo practical training within an approved industrial
undertaking having specified amount of fixed assets or turnover or paid – up share capital.
53. What are the objectives of industrial training?
 Training in an industrial / commercial / financial environment provides the trainees with the
opportunity to develop a problem solving attitude and to have an insight into the functioning of the
accounts department.
 It also diversifies their practical experience and helps them in developing the attributes of team work
and correlation with members of other professions and disciplines.
 It is intended to provide the trainees with a new dimension to their experience.
 This would necessarily involve exposure of trainees to the entire gamut of activities of industrial
establishments in a phased and systematic manner.
 An exposure to the working environment of a large commercial organization will give them an integrated
view of its operations.
 It is essential that the member imparting training in industrial including commercial and financial
enterprises, recognizes that perception of the overall business environment is the prime objective of
such training.
54. When can an articled assistant commence industrial training?
An articled assistant after passing PCE can undergo industrial training during last 9-12 months of articled
training.
55. Is it required to take prior permission of the MIT / Principal for joining an industrial training?
Yes. An articled assistant shall intimate to the MIT / Principal about his intention to undergo industrial
training at least 3 months before the date on which such training is to commence.
56. What is the specified size of the organization where in industrial training can be performed?
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.
57. What is the duration of the industrial training?
15
The period of industrial training may range between 9 months to 12 months.
58. Should industrial training be received under the member of the Institute?
Yes. 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.
59. Is there any agreement of industrial training just like Deed of Articles (standard format of which
is available in Form No.102)?
Yes. It is Form No.104. Refer to Training Guide for a specimen copy of this Form.
60. Is there any industrial training completion of certificate?
Yes. 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. Refer to Training Guide for a specimen copy of this Form.
61. Is it required to maintain any industrial training record?
Yes. It is required to maintain details of work undertaken and training received in the prescribed format.
Refer to Annexure VII of the Training Guide. Record of the industrial training should be signed by the
Principal (the associate / fellow member under which the industrial training is received) in all
circumstances.

Upgrade to CAclubindia Pro. Subscribe Now!

CA Madhumita Binani (Executive Accounts (SERVICE)) (389 Points)
Replied 23 June 2009

It depends on the reason why it is extended.

If it is because of excess leave taken, then you have to write 7th March only. and you cannot do industrial training, as it is already to late and you don't have 9 months in hand and industrial training is for a minimum period of nine months. Anyway, still if you want to do industrial training, refer to the link below:

/forum/message_display.asp?group_id=35620