ICAI’s Revised ‘Stipend Rates’ for Articled Assistants/ CA Articleship (CA Regulation 48)

ICAI’s Revised ‘Stipend Rates’ under ‘CA Regulation 48’ for ‘Articled Assistants’ (CA Students undergoing Articleship Training)

ICAI has revised/ doubled the minimum ‘Stipend Rates’ for Articled Assistants, i.e. for CA Students undergoing the CA Articleship Training, as specified under ‘Regulation 48’ of the CA Regulations 1988 applicable from 23 Jan 2015, payable based on category of place of service of the Articled Assistant, which are detailed here-under:

Minimum Stipend Rates based on Classification of Cities/ Towns under Clause (1) of ‘Regulation 48’

Place of Service in Cities/ Towns Having PopulationFirst Year Training (Rs.)Second Year Training (Rs.)Third Year Training (Rs.)
20 Lac and above2,0002,5003,000
4 Lac and above but below 20 lac1,5002,0002,500
below 4 lac1,0001,5002,000

Explanations to CA Regulation 48(1):

i) Stipend will be determined on the basis of population as per the last published Census Report;

ii) The amount of stipend will be determined on the basis of place of business of the principal; and

An articled assistant shall not be eligible for payment of stipend for the excess leave taken by him under his principal.

Further, Regulation 48(2) provides that the stipend shall be paid by the principal to the articled assistant either by a crossed account payee cheque every month against a stamped receipt to be obtained from the articled assistant or by depositing the amount every month in an account opened by the articled assistant in his own name with a branch of the bank to be specified by the principal.

ICAI’s Revised ‘Remuneration Rates’ for Audit Assistants (CA Regulation 68)

The ICAI has revised minimum ‘Remuneration Rates’ for Audit Assistants specified under Regulation 68 of the CA Regulations 1988, payable based on category of place of service of the Audit Assistant, which are detailed here-under:

Place of Service in Cities/ Towns Having PopulationMonthly Remuneration Rates (Rs.)
10 Lac and above2,000
Below 10 Lac1,500

Related Posts:

E-book/ Ready Reckoner For Articled/ Audit Assistants on Regulatory Aspects of ICAI

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