Most of you might not be heard about the ICAI Industrial Training. Because of this not mandatory one like the Articleship training in CA Course. The ICAI implements this training to provide industries with members with adequate knowledge and background in Industrial Functioning. However, the ICAI industrial training provides opportunities for the interns to develop a problem-solving attitude and insight into the accounts department’s functioning in a Commercial, Industrial or Financial Environment. Further, this article will discuss the Eligibility, Duration, Procedure, and Working hours of ICAI Industrial Training.
Eligibility For ICAI Industrial Training
First, let’s have a look at ICAI Industrial Training:
- Candidates who have passed the CA Intermediate (both groups) are qualified to work as an Industrial Trainee in any financial, commercial, or industrial undertakings that the council may specify, as well as in any other institution or organization that the council may occasionally approve.
- The Industrial Training can be started from the last year of articleship training.
- Moreover, Before the date that ICAI Industrial Training will begin, the candidate must notify his principal.
Duration of Industrial Training
As per the guidelines of ICAI, you must do this training for a minimum of 9 Months to 12 Months.
Under Whom the Article can Pursue Training
Now let’s see under whom the candidate or article should pursue Industrial Training:
- Only individuals who are members of the Institute of Chartered Accountants of India may receive CA Industrial Training.
- According to the ICAI Guidelines, a colleague who has been a member of the organization for at least three years has the right to train two trainees at once, whether they are article assistants or audit assistants. In contrast, an associate member has the right to train one trainee.
Procedure for Industrial Training
According to the Institute of Chartered Accountants of India, the candidate must fill the form Number 104 and register for the training. Further, after filling out the form, the form is to be submitted to the council of ICAI. Have a look at the table to know at which branch you should submit the form:
|States||Council of ICAI|
|Gujarat, Maharashtra, Goa, and Union Territories of Daman & Diu and Dadra & Nagar Haveli||Territories of Daman & Diu and Dadra & Nagar Haveli Western India Regional Council of The Institute of Chartered Accountants of India, ICAI BHAWAN 27, Cuffe Parade, Colaba, Mumbai – 400 005, Phone: 022-39893989 Fax: 022- 39802953|
|Andhra Pradesh, Kerala, Tamil Nadu, and the Union Territories of Pondichery and Lakshadweep island||Southern India Regional Council of the ICAI ICAI BHAWAN, 122, M.G. Road, Post Box No. 3314 Nungambakkam, Chennai – 600 034, Phone: 044 – 39893989|
|Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Rajasthan, Uttar Pradesh, Uttarakhand||Central India Regional Council of The Institute of Chartered Accountants of India, ICAI BHAWAN Post Box No. 314, 16/77B, Civil Lines, Behind Reserve Bank of India, Kanpur – 208 001 Phone: 0512-3989398, Fax: 0512- 3011173|
|Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab and Union Territory of Chandigarh||Northern India Regional Council of The Institute of Chartered Accountants of India, ICAI BHAWAN, 52-54, Institutional Area, Vishwas Nagar, Shahdara, Delhi 110032, Phone: 011-39893990, 30210601, Fax: 011- 30210680|
|Assam, Meghalaya, Nagaland, Orissa, West Bengal, Manipur, Tripura, Sikkim, Arunachal Pradesh, Mizoram, Andaman-Nicobar Islands||Eastern India Regional Council of The Institute of Chartered Accountants of India, ICAI BHAWAN, 7, Anandilal Poddar Sarani (Russell Street) Kolkata – 700 071, Phone: 033- 39893989, Fax: 033-30211145|
Working Hours of a Trainee
An articled assistant’s weekly hours of labour are 35, subject to periodic regulation by the principal. Further, Numerous applicants opt for industrial training since it allows them to participate in specific accounting exercises. Additionally, it might introduce students to management accounting, cost accounting, management information systems, and EDP. This training allows candidates to participate in work including corporate legislation, taxation, and secretarial practice.
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Industrial training is an optional component of the Chartered Accountancy course for trainees who want to advance their industry careers, as stated in the article above. Further, the CA Wizard Team gave you information on the training’s goals, requirements, procedure, duration, and other pertinent details. However, I hope this post has answered your questions about industrial training. Also, if you want to know more about CA, you can visit CA Wizard. CA Wizard is the online platform for CA Aspirants. Here, you will find all the updates related to CA, such as study material, Syllabus, guide for the complete course, Revision test papers, Mock test papers, and much more.