What is Industrial Training?

Industrial training refers to the hands-on training in a corporate or industrial setting that helps students develop the necessary skills that will help them become future professionals.

ICAI Industrial Training is designed to equip candidates pursuing a career in industry with the necessary practical knowledge and understanding of how finance works in industry. It helps developing the problem-solving attitude of future Chartered Accountants and prepare them for future work.

Eligibility Criteria for CA Industrial Training

A candidate who wants to pursue the Industrial Training must fulfill the below-mentioned eligibility criteria:

• As per the Chartered Accountant Regulations, A candidate who has passed both groups the CA Intermediate Examination becomes eligible to work as an industrial trainee in either a financial, commercial or industrial enterprise as determined by the Council or such other agency or organization as the Council may approve from time to time.
• Article Assistants can work as Industrial Trainee only in the last year of their prescribed Practical Training/ Articleship period.
• The article assistant must notify their principal at least three months before (the date on which such training is to commence) about their intention to take such industrial training.

Procedure for Applying to the Industrial Training

Candidates who wants to work as an industrial trainee in a company should get themselves registered with the ICAI in Form No.104 electronically on ICAI’s website.

How to fill Form No. 104?

You can fill form no. 104 by following the below steps:

• Go to ICAI Self Service Portal (SSP)
• Log in using your User Id and Password
• Go to Articleship Cycle
• Click on the Articleship/ Auditship tab available on the left side of the portal
• Click on the articleship menu
• Go to Industrial Training (Form No. 104) option
• Submit all the required details and click on submit
• Now your form has been submitted and will be sent to the Principal (under whom industrial training will be done) for approval.
• Once your application has been approved, go to the “Submitted/ Pending Actions” (in the articleship tab of the articleship cycle option of the SSP Portal) tab, download the PDF of the form, get it signed by the Principal and upload the scanned copy along with the deed in order to complete the registration process.

Industrial Training Period

The duration of the industrial training can be between a minimum of 9 months and a maximum of 12 months in the last year of the prescribed practical training period.

The period of industrial training is treated as service under articles for all purposes of the Chartered Accountant Regulations.

Is Industrial Training mandatory during the CA course?

Industrial Training is not mandatory. It is completely up to the choice of the candidate whether they want to pursue the Industrial training or complete 3 years of Articleship under their existing Principal.

Benefits of Industrial Training

However, while it is not mandatory for a candidate to have industrial training, it certainly has an advantage over candidates who do not. Some of the benefits are:

• Exposure to the Corporate world.
• A new learning experience altogether.
• A Brand Name gets associated to your profile which boosts Resume.
• High Stipend amount which leads to a good salary package at the start of the career.
• Corporate's balanced work culture with weekends off.
• High probability of getting placed in larger corporate organizations.

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 might help you in getting a good stipend. 

• Towards the end of your 2nd Year of Articleship, you should start searching for Industrial Training Vacancies.
• Having an attractive profile on a job search platform can be very helpful.
• Start looking for the right company by listing the following points:
• Your favorite industry/sector.
• Your preferred city.
• The work profile which is being offered. 
• Please enable job alerts to receive job postings. It helps you stay up to date with job postings and seize opportunities as soon as possible.

Hope you can find this article helpful. If you did like this Blog then Share it with your friends who are doing CA Final studies or who will be giving their CA Final exams in the near future. All The Best.

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