Stipend for CA aspirants will be hiked by 2.5 times to 3 times - ICAI

A minimum stipend offered to the CA aspirants doing articleship at CA firms will be hiked by 2.5 times to 3 times, president of the Institute of Chartered Accountants of India(ICAI) Jayesh Shah announced.

Talking to newsmen on the sidelines of a conference of CA students, Shah said the amount of stipend varies and depends upon areas fixed by the ICAI like an urban or semi-urban etc. A CA aspirant has to compulsorily undergo three and half years of articleship and get trained at CA firms after clearing first of the two Integrated Professional Competence Course (IPCC) groups.

He said if someone is getting a stipend of Rs 1,000 per month would now get between Rs 2500 and Rs 3,000.   He also said that the ICAI has made large investments over the years for different initiatives. Shah claimed that it is still much less costly to do a CA course compared to other professional courses in India.

Welcoming the ICAI move to increase the stipend, an office bearer of local chapter of ICAI, M J Parsiya said, "It is a welcome step and will act as morale booster for many as stipend hike will come handy in planning their monthly expenses."

"Stipend amount depends on the population of the city, size of the CA firm and its ability to pay the CA aspirants under articleship," he said. (IBNlive)