The Institute of Cost Accountants of India (ICAI) is a Statutory Body set up under an Act of Parliament known as Cost & Works Accountants Act, 1959 as amended by the Cost & Works Accountants Act 2006. The Ministry of Corporate Affairs, Government of India is the Administrative Ministry of the Institute. The Institute is governed by a Council and has four Regional Councils at Kolkata, Delhi, Mumbai and Chennai and 96 Chapters in important cities of India and 6 Chapters overseas. The Institute has around 43000 members and around 175000 students on rolls.
The Institute has introduced a Compulsory Practical Training for a period of 3 years on whole time basis to its Students. The Practical Training for 3 years can be taken by a student either under Practicing Cost Accountant or in an Industry. As per Training Scheme minimum Stipend payable by an Organization for the 1st year is Rs. 4,000/- (Rs. Four thousand only). The areas of training are: Cost Accounting, Financial Accounting, Financial Management, Auditing, Regulatory compliances, Direct & Indirect taxation, Corporate Laws, Industrial Laws and Commercial Laws etc.
We have already empanelled many companies for imparting the training to our Students. In terms of Training Scheme of the Institute a Student is required to register with Institute and also to execute a Training Deed with his employer. Training Deed inter alia provides that the Trainee will have absolutely no claim whatsoever, of the employment with the employer. Copies of Training Scheme, Training Deeds and Empanelment Form (Form T4) are at placed at Institute's website: http://students.icwai.org/TNP/students-train.asp
We are interested to empanel your Company for imparting the Training to our Students. For empanelment, you may download Form T4 from http://students.icwai.org/docs/formt4.pdf
for imparting training to our students. Please send the duly filled in Form along with latest Audited Annual Report of your Company to the undersigned at Delhi.
We would like to inform you that name of your Company will be placed at Institute's website under the empanelled organizations who are entitled to impart training to our students. We shall be glad to provide you all types of assistance and guidance in placing suitable candidates in your Company for imparting training.
Director (Training & Placement)
Phone No. 011-24641231