ICAI should increase the Minimum Articleship Stipend for CA Students?
CA Articleship Stipend: The Chartered Accountant course includes 3 year practical training program i.e. CA Articleship, which offers a greater overall learning experience for CA students. Candidates serve for the first two years under the guidance of a practicing CA. Every CA student must complete three years of articleship in a chartered accountancy firm. Institute of the Chartered of India (ICAI) is the body which governs everything related to the Chartered Accountants and its course.
Although the realistic experience acquired by students during their articleship time is highly important, the underlying issue of students who struggling to meet financial needs during the three-year period cannot be ignored.
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The following is the existing CA articleship Stipend Payable per Month as fixed by ICAI–
|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 a population of 20 lakhs and more||Rs. 2000||Rs. 2500||Rs. 3000|
|Cities/ Towns having a population of 4 lakhs and more but less than 20 lakhs||Rs. 1500||Rs. 2000||Rs. 2500|
|Cities/ Towns having a population of less than 4 lakhs||Rs. 1000||Rs. 1500||Rs. 2000|
Without a doubt, in the present economic situation, this stipend is insufficient to cover a student’s travel expenses, or even just their monthly needs.
With CA Dinesh Wadera’s latest Tweet, the long-forgotten issue of a CA Articleship Stipend amount has once again reopened. CA Wadera tweets, “If we wish to raise the standard of CA Practice, we should start with raising the stipend of CA Articles. Min stipend should be 5K, 10K and 15K pm in year 1-3, irrespective of location. CA qualification must become among the top money making profession in India. “
Hundreds of students and professionals joined the discussion, highlighting the various difficulties students encounter as a result of inadequate stipend. The following are a couple of those reasons:
A Twitter user wrote how the stipend amount did not cover his basic food expenditure and highlighted the grass-root difficulties faced by students.
Another user tweets, “Finally someone said. 2k,2.5k, 3k is just an insult. ICAI should really work on this. Every mid size firm enjoys this privilege of paying this low as they lure you with clients. Atleast we should not let the next generation suffer.”
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A sad reality came in the discussion where a user wrote,”I went Mumbai for my articleship specially. Stipend didn’t even recovered my Food expenses. Many firms do pay higher amounts than stipulated but if you leave that firm before 3 years they ask you to refund the excess amount above ICAI standards. In ground reality is harsh”
In another Tweet, a user wrote ‘Despite giving years to hardwork, determination and nothing less, CA articles are underrated nowadays’
Another user wrote, ‘Under the guise of “training”, there is an intelligent 19-20 year old that works for 8-12 hrs. a day for 5-6 days a week. How is 5k a fair remuneration? There is not ‘training’. These kids are actually working! They need to be paid better than 20rs/hr’
Other side of the Discussion on CA Articleship Stipend
While hundreds of students agreed that the minimum stipend should be increased, others believed that the stipend is adequate for the amount of work done and that there iss no need to increase it. The following are some of those arguments:
User on Twitter wrote ‘I’m a student and I don’t buy this argument at all. Students are getting polluted for money. I don’t think money should be a criteria. True students get into CA firms to LEARN work and NOT TO EARN money.’
Another professional wrote ‘Stipend is not salary and articles are not employees. Right from excel to Tally, we teach them from scratch. It’s painful to teach. Plus we have to accommodate them for exams which we don’t do for regular employees.’
Another user tweets, “I dn’t know how far I am correct 20to25% of the articles are really interested in learning rest waste major of their time,Even seen fresh qualified CA who are even worse than semi qualified in terms of knowledge. it’s individual. Prospective of learning not the money that matters.”
Well, in this argument, which side of the talks are you on? Should the stipend increase or not? Please share your thoughts in the comment section below!
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