CA firms in India will soon be allowed to hire interns with a stipend thanks to the government’s Pradhan Mantri Internship Scheme (PMIS). The Institute of Chartered Accountants of India (ICAI) has revised its code to allow advertising for these internship positions.
### CA Firms Get Nod to Hire Interns under PMIS
The Pradhan Mantri Internship Scheme (PMIS) will provide a stipend of ₹9,000 to interns at CA firms. This move is expected to give students a chance to gain practical experience in the field of accounting. The ICAI has also revised its code to allow CA firms to advertise for these internship positions, making it easier for students to find opportunities.
### New Internship Structure and Revised Code
The revised code also introduces a new internship structure, which will provide a clear framework for CA firms to hire and train interns. This will help ensure that interns receive a structured learning experience and are able to gain valuable skills and knowledge. The new code also includes guidelines for CA firms to follow when advertising for internship positions, ensuring that the process is transparent and fair.
### What this means
For aspiring chartered accountants, this move is a welcome step towards gaining practical experience in the field. With a structured internship program and a stipend, students will be able to focus on developing their skills without worrying about financial constraints. CA firms will also benefit from having access to a talented pool of interns who can bring fresh perspectives and ideas to the table. Overall, this development is expected to boost the skills and employability of aspiring chartered accountants in India.
