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Stipend

Karthik (C A Student) (219 Points)

30 April 2009

Does anyone have any idea whether the Institute will increase the minimum stipend ? And if it is so, by what amount and by when will they do it ?

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20 Replies

Ravi Birla (Artical) (24 Points)
Replied 30 April 2009

our president CA.UttamP..A. said in one Programe at Andheri RVG Hostel Mumbai...

that Now a days Firms are Rembursing you Travelling Expense. so Stipend is not necessary.

So dont hope for Increase in Stipend.

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CA. Rajeev Aggarwal (Chartered Accountant) (3424 Points)
Replied 30 April 2009

But i think that icai must increase the minimum stipend.

Even a labour working for 8 hours on daily basis earns more than an article.

We should take up this matter to icai through this wonderful site.

PRATIBHA (C.A. Student) (107 Points)
Replied 30 April 2009

I agree completely with the view of CA Rajeev agaarwal. Indeed, a daily wage labour earns atleast Rs. 3000/- which may be higher than that of articles.

It must be increased with due credit to the amount of work done by us.....................

Originally posted by :CA. Rajeev Aggarwal
"	But i think that icai must increase the minimum stipend. Even a labour working for 8 hours on daily basis earns more than an article. We should take up this matter to icai through this wonderful site.	"

Prodyut Banerjee (Advocate) (309 Points)
Replied 30 April 2009

Originally posted by :Ravi Birla
"	our president CA.UttamP..A. said in one Programe at Andheri RVG Hostel Mumbai... that Now a days Firms are Rembursing you Travelling Expense. so Stipend is not necessary. So dont hope for Increase in Stipend.	"

Increase in stipend after this remark by ICAI President????????????? what a joke.

Urvashi Tandon (Proprietor) (30 Points)
Replied 30 April 2009

1. Stipend and travelling expenditures are two different heads (As per current income tax law the stipend is taxable and TA up to Rs.800 pm is not taxable). They cannot be treated as a substitute for another.

2. Some firms give TA when the distance is more than 8 km away from the office of the CA under whom you are working irrespective of the fact that you are travelling on an average of 20-30 Kms to and fro from your home to your destiny in city like Lucknow. The situation is worst in Metros and A1 Cities. There is no uniformity in payment. It depends on the whims of the parties. In many cases it does not meet the minimum requirement of the fuel expenses and maintenance of the even two wheeler. The question of 4 wheelers does not arise during extreme summers, winters and rainy seasons.

3. Stipend takes care of day to day expenditures other than travelling expenditures and given the feeling of self reliance. Hence I don’t agree with the views of respected Mr. Banerjee.

4. It is one of the severe financial constraints of being poorly paid among fellows even than illiterate daily labourers like riksha pullers/taxi drivers who can earn minimum Rs.4000/= to Rs.7000/= per month.

5. The financial companies are therefore alluring unbaked better qualified and hard aspiring such professional in the middle of this profession. We have observed many such candidates have not even appeared for final examinations. This is the realty of the life and one has to accept it for the sacrifice or to compromise for their families, or whatever you would like to say.

6. In view of above, there is an urgent need to enhance it to a respectable amount, in order to avoid one of the greatest threats to the qualified CA in futures and particularly during current global recession environment.

Suggestions

(1) The stipend can be considered atleast at par to the NET qualified students or equivalent to CSIR JRF/UGC fellow, who have cleared up to intermediate exams. It is to be increased every year based on their performance. A system is to be evolved to get such reports by ICAI through proper channel.

(2) It will boost the morale to be self reliant to some extent. The candidate will not to depend on the financial support of their parents.

(3) The growing thinking in articles’ status is that they don’t get sufficient time for the preparation of final exams.

(a) 40-50% time should be given for theory classes and

(b) At least 60-40% practical exposures shall be mandatory against each sectors.

(4). I personally feel that after passing the intermediate examinations or any entry level after XII standards/B.Com., they shall be allowed to get an admission on similar lines with IITs and Reputed MBA institutions so that they can get both practical and theoretical trainings. This system gives at least gurantee to become CA in future. Then one can do specialisation in may other courses recoignised by ICAI.

(5) Under the present setup the student has to find out his/her ways for academic skills at its cost which cannot be met by the present stipend. Moreover, good coaching institutes run by qualified CA are also not available.

I hope without being prejudiced to any one, a positive solution is necessary on emergent basis in the larger interest.

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Jayant............ (article ) (83 Points)
Replied 30 April 2009

sitpend must have to b increased as our office peon get the more than ours

Sumit Jain (CA) (4760 Points)
Replied 30 April 2009

urvashi is right

Prodyut Banerjee (Advocate) (309 Points)
Replied 30 April 2009

Dear Urvashi

You miss understood me. I completely agree with your view that there should be decent stipend but after such statement of ICAI president it seems to be a remote possibility. Hence I put the matter in a witty way.

Karthik (C A Student) (219 Points)
Replied 30 April 2009

We are all right in saying all these things.....but what else can we do other than discussing this in forums or posting messages ?

Does anyone among us have any power or authority to bring this to any higher authority with the assurance of some action ?

And friends , its of no use writing to the PRESIDENT, as he never replies to any mails.(I even wonder if he reads the mails sent to him ?) I have mailed him a lot of times, but I have not received any reply !!!

Urvashi Tandon (Proprietor) (30 Points)
Replied 30 April 2009

Respected Mr. Banerjee,

Thank you for your immediate reply. May I request you to read my detalied views with suggations which I posted during your reply.

We are living in technologically advanced innovative world where nothing is impossible. Our vision and only positive unbiased opinion can bring changes in PAN India then why not in ICAI.

With best personal regards

Urvashi

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Urvashi Tandon (Proprietor) (30 Points)
Replied 30 April 2009

Respected Mr. Banerjee,

Thank you for your immediate reply. May I request you to read my detalied views with suggations which I posted during your reply.

We are living in technologically advanced innovative world where nothing is impossible. Our vision and only positive unbiased opinion can bring changes in PAN India then why not in ICAI.

With best personal regards

Urvashi