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What is Industrial Training?
A systematic, practical learning experience carried out in a business or industrial setting, industrial training aims to close the gap between academic knowledge and practical professional practice. It helps students gain the professional competence, industry exposure, and practical skills necessary for their future professions.
ICAI Industrial Training offers in-depth practical exposure to financial operations, business procedures, and decision-making environments in order to properly prepare CA candidates for positions in the corporate and industrial sectors. It develops critical thinking, improves problem-solving skills, and gives aspiring chartered accountants the real-world knowledge needed to succeed in positions with a strong industry focus.
Eligibility Criteria for CA Industrial Training
A candidate intending to pursue Industrial Training must satisfy the following eligibility criteria:
As per the Chartered Accountants Regulations, a candidate who has successfully cleared both groups of the CA Intermediate Examination is eligible to undergo Industrial Training in a financial, commercial, or industrial organization approved by the ICAI Council or any other authority recognized by the Council from time to time.
An Article Assistant is permitted to undertake Industrial Training only during the final year of the prescribed Practical Training (Articleship) period. The Article Assistant must formally inform their Principal at least three months in advance of the proposed commencement date of Industrial Training, expressing their intention to opt for the same.
Industrial Training Period
The duration of Industrial Training shall range from a minimum of nine months to a maximum of twelve months and must be completed during the final year of the prescribed Practical Training (Articleship) period.
The entire period of Industrial Training is deemed to be service under Articles for all purposes in accordance with the Chartered Accountants Regulations.
Is Industrial Training mandatory during the CA course?
Industrial Training is not compulsory. Candidates have the discretion to choose whether they wish to opt for Industrial Training or continue and complete the entire three-year Articleship under their existing Principal.
Benefits of Industrial Training
Although Industrial Training is not mandatory, it offers a significant advantage over candidates who do not opt for it. Some of the key benefits include:
Industrial Training Stipend
The amount of stipend offered varies from Industry to industry, company to company. But generally, it is seen that companies give a handsome amount of stipend to their Industrial Trainees which ranges from Rs.15,000 to Rs.50,000 a month.
How to get more Stipend in CA Articleship under Industrial Training?
The following tips may help you secure a better stipend during Industrial Training: Towards the end of the second year of your Articleship, begin actively searching for Industrial Training opportunities. Maintaining a strong and well-presented profile on job search platforms can significantly improve your chances of being noticed by recruiters. While shortlisting companies, consider the following factors:
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