Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Shall i discontinue the articleship

pravallika reddy (articleship) (305 Points)

22 May 2012

wish to eveyone,

I completed my article period for 3 month, i want to discontinue the articleship now and want to continue after 2 years. Is it possible to do this,please give me your suggestions.

thanks

Reply
Follow
Share

2 Replies

jaanvi chandra (student) (145 Points)
Replied 22 May 2012

Transfer /termination of articles is permitted without any restriction during the first year of articles.

II. During rest of the articleship period on satisfying any one or more of the conditions as stated below: -

Medical grounds requiring discontinuance of articles for a minimum period of three months (on production of a Medical Certificate issued by a Government Hospital).
Transfer of parent(s) to another city.
Misconduct involving moral turpitude.
Other justifiable circumstances / reasons: -
1. Grounds already permissible in the Chartered Accountants Regulations, 1988 (on submission of requisite proof of the act warranting transfer/termination of articleship): -
  - Industrial Training (Regulation 51)
  - Secondment of articles (Regulation 54)
  - Conversion from PCC to IPCC (for termination of articles only. Re-registration of
    articles to be allowed only after passing Group-I of IPCC)
  - Death of Principal [Regulation 57(1)(c)]
  - Ceasing of practice by the Principal [Regulation 57(1)(a)]
  - Removal of name of the Principal from the Register of Member due to any reason [Regulation 57(1)(b)]
2. Marriage basis (only if there is relocation to another city involving distance of 50 kms).
3. Irregular payment or non payment of stipend with reference to Regulation 67.
4. Articled assistant desires to serve balance period of training outside India.
5. Shifting by the Principal to another city involving distance more than 50 kms

Conclusion : You can transfer Terminate your articleship on the basis of rules of ICAI.

Upgrade to CAclubindia Pro. Subscribe Now!

Ankita Methi (Credit Underwriter) (758 Points)
Replied 22 May 2012

it is posiible......but one big question why are u takin such extreme decision......think abt ur career and future........ponder over ur decision wth a calm and patient mind