ICAI Membership/ COP Fee for Financial Year 2021-22 is payable by Members latest by 30/09/2021. ICAI’s revised fee structure applicable for Financial Year 2021-22 along with GST, is as under:
|S.N.||Particulars of fee payable by ICAI Members||Fee for FY 2021-22 with 18% GST|
|1||Entrance Fee payable under regulation 5|
|i) as an Associate (Rs. 2000 + Rs. 360)||2,360|
|ii) as a Fellow (Rs. 2500 + Rs. 450)||2,950|
|2||Annual Membership Fee payable under Regulation 6(1)|
|i) as an Associate Member (Rs. 1500 + Rs. 270)||1,770|
|ii) as a Fellow Member (Rs. 3000 + Rs. 540)||3,540|
|3||Annual Membership Fee + Certificate of Practice fee payable under Regulation 6(2)|
|i) as an Associate Member (Rs. 1500+ Rs. 3000 + Rs. 810)||5,310|
|ii) as a Fellow Member (Rs. 3000 + Rs. 4000 + Rs. 1260)||8,260|
|4||Fee for restoration of name in the Register of Members payable under Regulation 6(3)|
|i) within 3 years of removal (Rs. 1200 + Rs. 216)||1,416|
|ii) after 3 years of removal but before 5|
years (Rs. 3000 + Rs. 540)
|iii) after 5 years of removal (Rs. 4000 + Rs. 720)||4,740|
|5||Membership Fee for those who are not holding COP and are having age of 60 years and above as on 01/04/2021 (for 2021-22)|
|a) Associate Members (Rs. 1100 + Rs. 198)||1,298|
|b) Fellow Members (Rs. 2300 + Rs. 414)||2,714|
Note: ICAI is promoting “I GO GREEN with ICAI” scheme under which Member opting e-journal will be given a discount of Rs. 590 (including 18% GST) on total amount of Membership Fees.
It may be noted that revised fee scales for all Members in practice are the same, i.e. now there is no differentiation of fee based on age for members holding COP, like till 2016-17. However, for those who are not in practice, concessional membership fee is applicable, if he/ she has attained age of 60 years and above as on 1 April of respective Financial Year, i.e. as on 01/04/2021 for FY 2021-22.
Advance Payment of Membership Fee for 10 years
ICAI provides an option to pay advance Membership/ COP fee for 10 years along with GST as a final payment and in case of any shortfall owing to revision of fee in future; their Name/ COP will not be removed from the register of members on account of such revision.
Further, Members may also note that in case the advance fees has been paid in the past, the balance fees/ difference of the fee becomes payable in the current financial year. In other words payment of balance fee/ difference in fee is a must for renewal of membership/ certificate of practice, as the case may be.
It may be noted that an ACA who has paid advance membership fee for a period not exceeding 10 years and at a later stage opt for FCA status then the member is required to pay difference fee (the difference of fee in conversion from ACA to FCA and Fellow Member Admission Fee) for the remaining period.
Extension of last date for Payment of Membership/ COP Fees (FY 2020-21)
ICAI has notified the revised/ extended last date (31st December 2020) for payment of Annual Membership/ COP Fee for Associate/ Fellow Members for FY 2020-21 subject to additional GST of 18%. Accordingly, the last date for payment of ICAI Membership Fees 2020-21 is 31st Dec. 2020.
It may be noted that ‘live membership status’ as per ICAI records is now mandatory for joining all certification courses, access to DLH, generation of UDIN, article registration, etc.