ICMAI revises Minimum Stipend for Practical Training from Corporates, Abolishes Refund for Computer Training Exemption [Read Circulars]

The Institute of Cost Accountants Of India ( ICMAI ) has increased the amount of minimum stipend for cost accountant students during practical training in Corporates/ Organizations. As per a circular issued by the Institute on September 10^th, the concerned employers shall pay Rs. 8,000 to 10,000 in the first year, Rs. 10,000 to 12,500 in the second year and Rs. 12,000 to 15,000 in the third year.

The new stipend rates will be applicable with effect from 1^st October 2018 onwards.

In another circular, the Institute informed that the refund of Rs. 3,000/- for Computer Training Exemption has been abolished for CMA Intermediate Course students.

“As approved by the Council in its 313th Meeting held on 21/7/2018, it is notified that Practice of refund of Rs. 3000/- to students who get exemption in computer training is abolished with immediate effect,” the circular issued on 10^th September said.

“This will be effective for the students who have already taken registration from 8th August 2018 onwards,” it added.