The commerce stream has enormous opportunities, so it’s one among the foremost preferred streams amongst the scholars. For professional courses like CA (Chartered Accountant), CS (Company Secretary), or CMA (Cost Accountant), the quantity of jobs is high thanks to the high demand for those professionals within the market. But before going for the job all the three professionals need to undergo mandatory training or articleship as per the respective institute guidelines. For this articleship, the employer or principle needs to pay the minimum amount as per the respective institute guidelines.
CMA Articleship Stipend as per ICMAI
Cost and Management Accountancy or Cost Accountant (CMA) is a professional course specifically designed to build and test the critical accounting and financial management knowledge. It involves three stages – Foundation, Intermediate and Final besides the mandatory trainings as a part of the course. One such significant training required is the compulsory practical training of minimum 15 months out of a total training period of 3 years, which helps the students acquire practical knowledge which shall come to aid in their profession once they clear the examinations. The minimum CMA stipend as per ICMAI is as follows:
| Employer | 1st Year | 2nd Year | 3rd Year |
| Practicing Cost Accountant/ Firm of Cost Accountants | Rs. 2,000 | Rs. 3,000 | Rs. 4,000 |
| Corporate/ Organisations | Rs. 10,000*/ Rs. 8,000 | Rs. 12,500*/ Rs. 10,000 | Rs. 15,000*/ Rs. 12,000 |
*Higher stipend for metropolitan and ‘A’ grades cities.
Read also: ICMAI revised CMA Course Fee structure
CS Articleship Stipend as per ICSI
Company Secretary (CS) Course, one of the most prestigious professional courses, consists of three levels – CSEET (Company Secretary Executive Entrance Test), Executive Programme and Professional Programme. Further, a candidate is also required to undergo necessary trainings besides clearing these examination stages. The Institute of Company Secretaries of India (ICSI) passed a new training structure which requires following training programmes to be undergone by CS students:
- Executive Development Programme (EDP)
- Practical Training
- Corporate Leadership Development Programme (CLDP)
The 21 months Practical Training/ Articleship is to be completed by CS students after clearing Executive examination, on a full time basis. This training helps the students learn the practical applications of the theoretical education scheme and also provide an opportunity to students in acquiring on-the-job work experience of a professional nature.
Every Company Secretary in Practice or Company engaging the trainee shall be required to pay monthly stipend to the trainee at the rates determined by the Council from time-to-time. The minimum monthly stipend to be paid (through cheques or online transfers only) to trainees is:
- If undergoing training under PCS – Minimum amount of Rs. 3,000 per month.
- If undergoing training at company/ other entities – Minimum amount of Rs. 4,000 per month.
Read Also: ICSI removes more than 4200 CS members on Non-Payment of Membership Fees
CA Articleship Stipend as per ICAI
CA (Chartered Accountancy) Articleship is a practical training program that is one of the mandatory requirements of the Institute of Chartered Accountants of India (ICAI) in order to become a Chartered Accountant. Candidates who pursue this training are called as Articled Assistants, or Articles. The articled student undergoes an extensive training of the profession, having been attached with a Principal who is a member of the ICAI and is permitted to train articled students.
The duration of practical training in CA course is 3 years. It is mandatory for the aspirant to undergo the first two years of the training period with a practicing CA i.e., a CA firm. However, in the third year, there is an option of choosing between either continuing the training under the same practicing CA or going for industrial training with a CA in industrial employment (Note: Industrial training shall be received under a member of the Institute working in the company/ industry where the article registers as an Industrial Trainee). Despite the fact that the Articleship training period is 3 years, CA student is eligible to appear for CA Final Exams after the completion of 2.5 years of training.
Note: ICAI has notified draft CA Regulations proposing to reduce the time period of mandatory articleship to 2 years.
Read Also: Everything about CA course and its scope
A person registered as an Articled is entitled to receive a minimum monthly stipend as per the rates specified under the Chartered Accountants Regulations, from time to time. The current minimum rates of monthly stipend payable, depending on the situation of the normal place of services of the articled assistants, are as follows:
| Classification of the normal place of service of the articled assistant | During the first year of training | During the second year of training | During the remaining period of training |
| Cities/Towns having population of 20 lakhs and above | Rs 2,000 | Rs 2,500 | Rs 3,000 |
| Cities/Towns having population of 4 lakhs and above but less than 20 lakhs | Rs 1,500 | Rs 2,000 | Rs 2,500 |
| Cities/Towns having a population of less than 4 lakhs | Rs 1,000 | Rs 1,500 | Rs 2,000 |
There is no higher limit specified by ICAI for the payment of stipend to articles. Accordingly, stipend in Big 4 firms ranges from INR 10,000 to INR 30,000 usually.
Note: ICAI has issued draft CA Regulations and proposed to double the above rates. However, they are yet to be notified.
Read Also: ICAI exempts CA Course fee for students lost any parent during Covid-19
ICAI Doubles Articleship Stipend Rates for CA Students, draft Notification
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.
It may be noted that so far ICAI has issued only a draft Notification proposing to double the stipend rates for CA Articles, however, the Final Notification and applicability date thereof are still pending.
After final Notification of these proposed amendments in CA Regulation 48(1), the revised stipend rates for CA Articles shall be fixed as under:
| Classification of the Normal Place of Service of the Article Assistants | During First Year of Training | During Second Year of Training | During Third Year of Training |
| 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 |
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