ICAI has finally revised/ doubled the Stipend Rates for CA Students’ Articleship vide Clause 22 of the Notification dated 21st June 2023 on the Chartered Accountants (Amendment) Regulations 2023 amending CA Regulation 48(1).
Earlier ICAI has issued draft of the CA 2nd Amendment Regulations 2022, whereby it is proposed to revise/ modify the CA Regulation 48(1) to ‘double the stipend rates’ during Articleship for CA Students.
Revised Minimum Stipend Rates (based on Classification of Cities/ Towns) under CA Regulation 48(1)
The revised stipend rates for CA Articles, after necessary Notification of the amendments in CA Regulation 48(1) are as under:
| Classification of the Normal Place of Service of the Article Assistants | Monthly Staipend During Training (Rs) | ||
| First Year | Second Year | Third Year | |
| A. Cities/ Towns having Population 20 Lac and above | 4,000 | 5,000 | 6,000 |
| B. Cities/ Towns having Population 5 Lac and above but below 20 lac | 3,000 | 4,000 | 5,000 |
| C. Cities/ Towns having Population below 5 lac | 2,000 | 3,000 | 4,000 |
ICAI Notification dated 21/06/2023: The Chartered Accountants (Amendment) Regulations 2023
ICAI Notification dated 02/06/2022: The Chartered Accountants (2nd Amendment) Regulations 2022 (Draft)
Related Posts:
ICAI’s New Scheme of CA Education and Training from July 2023
It’s a welcome initiative to increase the stipend to CA Articles. The Institute should also take necessary steps to get stronger like Bar Council of India, the strongest Body in India, and be instrumental in India’s Development.
When will these revised provisions on articleship stipend take effect?
From the date of notification itself, i.e. from 21 June 2023.
I registered for articleship in Mumbai before 21/06/2023 and still have 2.5 years training left. Now whether I can also get the revised stipend announced by the ICAI?
Yes
How the population is being considered/computed? Whether it’s based on 2011 census?
Also, what is the authentic source of information acceptable to ICAI?
What about CA Stipend at Big-4. Will it be doubled?