Industrial training

 Industrial Training refers to the practical training in a company or an industrial environment that helps the students in developing the required skills which will help them in becoming a professional of the future.

ICAI industrial Training aims to equip the candidates who wish to pursue a career in the industry with the required practical exposure and appreciation about the functioning of the finance department in an industrial environment. It develops a problem-solving attitude amongst future chartered accountants and prepares them for work later on.

In this article, we will be discussing all the important aspects of Industrial training in the Chartered Accountancy course.

Eligibility Criteria for Industrial Training

A candidate desirous of pursuing Industrial Training must fulfill the below-mentioned eligibility criteria:

• As per the Chartered Accountant Regulations, A candidate who has passed the Intermediate or CA IPCC Examination (both groups) is eligible to serve as an industrial trainee in any of the financial, commercial, industrial undertakings as may be specified by the council or such other institution or organization as may be approved by the council from time to time.
• An article assistant can serve as an Industrial Trainee only during the last year of his/ her prescribed period of Practical Training/ Articleship.
• The article assistant has to intimate to his/ her principal about the intention to take such industrial training at least three months before the date on which such training is to commence.

Procedure for Industrial Training

Candidates who wish to serve in a company as an industrial trainee must register themselves 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.

Duration of Industrial Training

The period of industrial training may range between a minimum of nine months and a maximum of twelve months during the last year of the prescribed period of practical training.

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

Is it mandatory to pursue Industrial Training during the CA course?

It is not mandatory to pursue Industrial Training. It is entirely up to the discretion of the candidate whether he/she wants to pursue Industrial training or complete 3 years of articleship under his/her existing Principal.

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