ICAI Proposes Major Hike In Stipend For CA Articled Assistants, Revises Population-Based Slabs

The Institute of Chartered Accountants of India (ICAI) on 25 June proposed increasing the minimum monthly stipend payable to Chartered Accountant articled assistants through draft amendments to the Chartered Accountants Regulations, 1988.

The proposal seeks to revise stipend rates across all categories of cities and towns and has been published in the Gazette of India for public consultation.

Under the existing regulations, articled assistants in cities with a population of 20 lakh and above receive a minimum monthly stipend of Rs 2,000 in the first year and Rs 2,500 in the second year. The draft proposes to raise these amounts to Rs 5,000 and Rs 6,000 respectively, reflecting an increase of Rs 3,000 in the first year and Rs 3,500 in the second year.

For cities and towns with a population of 4 lakh to below 20 lakh under the existing framework, articled assistants currently receive Rs 1,500 in the first year and Rs 2,000 in the second year. The draft revises the population bracket to 5 lakh to below 20 lakh and increases the stipend to Rs 4,000 in the first year and Rs 5,000 in the second year, marking an increase of Rs 2,500 and Rs 3,000 respectively.

For towns with a population below 4 lakh under the current regulations, articled assistants receive Rs 1,000 in the first year and Rs 1,500 in the second year. The draft amendments reclassify this category as below 5 lakh and raise the stipend to Rs 3,000 in the first year and Rs 4,000 in the second year, an increase of Rs 2,000 and Rs 2,500 respectively.

The draft regulations will be placed before the ICAI Council for consideration after 30 days from the date the Gazette is made available to the public.