srinivass (CA Final) (2466 Points)
04 October 2011Hi friends really it is urgent yaar plz reply.../
My friend doing articles in one firm,, he applied Industrail training permission with his principle ...but the principle(Auditor) doesnt like it.....He(Auditor) said that go for termination volunterily ......is the auditor has right to terminate the article student in 2nd year of articles.....is it is valid..
My friend is in 2nd year of articles termination is also difficult
plz give valuable suggestions to my friend....
plz tell clearly..plz
SAHIL
(Chartered Accountant/ CFP / B.com(AF)/ NCFM)
(760 Points)
Replied 04 October 2011
Better ask such questions at ICAI's 'E-sahayataa'...........coz these are Regulation-matters........
https://220.227.168.109/
sumit jain
(.)
(844 Points)
Replied 04 October 2011
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1. 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: 2. The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training. 3. 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. 4. An agreement of training shall be entered into in the form approved by the Council. 5. 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. 6. 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. |
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1. 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: 2. The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training. 3. 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. 4. An agreement of training shall be entered into in the form approved by the Council. 5. 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. 6. 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. |
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1. 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: 2. The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training. 3. 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. 4. An agreement of training shall be entered into in the form approved by the Council. 5. 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. 6. 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. |
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* Krishna *
(CA Student)
(6149 Points)
Replied 04 October 2011
Industrial Training is allowed only during last year of articleship. As your friend is still in his 2nd year of training, he cannot join the Indl Training.
CA Sumiit B Nagpal
(Business)
(1077 Points)
Replied 05 October 2011
| Originally posted by : Krishna | ||
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Industrial Training is allowed only during last year of articleship. As your friend is still in his 2nd year of training, he cannot join the Indl Training. |
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Agreed
srinivass
(CA Final)
(2466 Points)
Replied 05 October 2011
I am asking that my friend want to go industrial training on last year he alredy informed that to his principle but the [rincple(Auditor) not like it ...the auditor said to my friend that go for voluntirly termination .......is it is valid?, is auditor has any rights to ask article trainee go for termination with out any fault?
CAclubindia
