Mandatory to receive stipend monthly basis?

Page no : 2

srinivass (CA Final) (2466 Points)
Replied 01 October 2011

Originally posted by : Bhav Sharma
	MINIMUM STIPEND RATE TO ARTICLED ASSISTANTS (ON OR AFTER JUNE 1,2006) S No. Classification of the normal place of service of the articled assistants Stipend payable per month During the first year of training During the second year of training During the remaining period of training 1. Citi es / Towns having population of 20 lakhs and above 1st yr 2nd yr 3rd year Rs. 1000/- Rs.1250/- Rs. 1500/- 2. Cities / Towns having population of 4 lakhs and above but less than 20 lakhs 1st yr 2nd yr 3rd year Rs. 750/- Rs. 1000/- Rs. 1250/- 3. Cities / Towns having population of less than 4 lakhs 1st yr 2nd yr 3rd year Rs. 500/- Rs.750/- Rs.1000/- Note: 1. The stipend needs to be paid by crossed account payee cheque on monthly basis or may be deposited directly in the bank account of article assistant on monthly basis. 2. The council of the Institute has already approved the rates of stipend to be doubled but the same is pending for approval from Central Government

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(Guest)

Originally posted by : NITIN
	THANKS FOR REPLY TO EVERYONE. BUT IF ARTICLE AND PRINCIPAL BOTH ARE MUTUALLY AGREE FOR HALF YEARLY STIPEND BASIS. THEN THERE IS ANY PROBLEM REGARDING NON COMPLIANCE ?

FRIENDS,

BOTH OF THEM SHOULD FOLLOW THE RULES OF THE INSTITUTE. THEY CANNOT FRAME THEIR OWN RULES.

AND MORE THING, ARTICLE ASSISTANTS ARE ELIGIBLE FOR STIFUND DURING THE LEAVE PERIOD ALSO.

Nandan Sarma (Article Assistant) (325 Points)
Replied 02 October 2011

m i entittled to recieve stipend when i m in exam leave..???my CA doesnot provide if we are in xam leave..is there any rule in ICAI,that during leave we wont get stipend???

Anjali girdhar (CA article) (39 Points)
Replied 03 October 2011

what action should i take, if i am not getting stipend at all?????????

plz rply...............................

(Guest)

See the attached file.

See the third point below the table in the file.

It is given as article assistant is not eligible for stifund during the excess leave period. Implies that we are eligible for stifund during the leave of 180 days.

If the principal is not paying the stifund, he is deemed to be of professional mis-conduct under second schedule, part 2 of clause 1. This is the theoritical answer.

But in the practical scenario, you have to prove it to the institute about it.

MY COMMENT - THERE IS NO CASE LAW ON THIS ISSUE TILL DATE

Be utmost cautious if you want to proceed against your principal.

PLEASE CORRECT ME IF I'M WRONG.

Attached File : 605137 843823 58 stifund details icai.pdf downloaded: 172 times

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Swapnil Jain (Finance - FP&A) (564 Points)
Replied 06 October 2011

Originally posted by : Bhav Sharma
	MINIMUM STIPEND RATE TO ARTICLED ASSISTANTS (ON OR AFTER JUNE 1,2006) S No. Classification of the normal place of service of the articled assistants Stipend payable per month During the first year of training During the second year of training During the remaining period of training 1. Citi es / Towns having population of 20 lakhs and above 1st yr 2nd yr 3rd year Rs.1000/- Rs.1250/- Rs.1500/- 2. Cities / Towns having population of 4 lakhs and above but less than 20 lakhs 1st yr 2nd yr 3rd year Rs.750/- Rs.1000/- Rs.1250/- 3. Cities / Towns having population of less than 4 lakhs 1st yr 2nd yr 3rd year Rs.500/- Rs.750/- Rs.1000/- Note: 1. The stipend needs to be paid by crossed account payee cheque on monthly basis or may be deposited directly in the bank account of article assistant on monthly basis. 2. The council of the Institute has already approved the rates of stipend to be doubled but the same is pending for approval from Central Government