ICAI has last revised 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 23/01/2015, 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 Population||First Year Training (Rs)||Second Year Training (Rs)||Third Year Training (Rs)|
|20 Lac and above||2,000||2,500||3,000|
|4 Lac and above but below 20 lac||1,500||2,000||2,500|
|below 4 lac||1,000||1,500||2,000|
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 Remuneration Rates for Audit Assistants (CA Regulation 68)
The ICAI’s 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, are as under:
|Place of Service in Cities/ Towns Having Population||Monthly Remuneration Rates (Rs)|
|10 Lac and above||2,000|
|Below 10 Lac||1,500|