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Q. > Please Help: Stifund
Friends, during articleship, if the principal pays more stifund than the prescribed amount given by ICAI, is it assumed that it is also towards payment of stifund during leave period also? Or should the principal pay the stifund during the leave period seperately. pls clarify this point.
answered Jan 06, 2012 by Ashish Karundia , New Delhi
Dear Querist,
As per ICAI the article trainee has to be paid minimum stipend even if he is on leave. However, no stipend is payable for excess leave (i.e. over and above eligible leave).
Further, you can click on the following link (http://indiapoint.net/finance/2008/10/31/articleship-certain-rules/)and you will get the evidence under the head 'Stipend during leave'.
Hope the above suffice.
Experts Panelist
Comments
PANKAJ BANSAL
06-Jan-2012 , 03:36:38 pmHe should give seperately
plmo159638
06-Jan-2012 , 08:46:02 pmHi Pankaj, thanks a lot for your reply. Do you have evidence supporting the same? This issue is not addressed even in the professional ethics.
Rishabh Upadhyay
09-Jan-2012 , 10:44:50 pmnot clear with the query, but even if the stipend paid by CA is more than the prescribed limits (for example i received Rs 6000 p.m during my article-ship), it will still count as stipend, and no need of paying it separately. For the leave period as ashish replied above, it is payable for the allowed leaves and not for excess leaves.