News & Events
afcwinte16high-123x67 02-22-17 Conversation with the High Achievers AFC Examination Winter 2016
date_extended 02-16-17 ICAP Constituted A Working Committee For Female Chartered Accountants
src_afgt-123x67 02-15-17 SRC-Annual Family Get Together

Stipend Rates

MINIMUM STIPEND EFFECTIVE JULY 1, 2016*

1. CAF Passed or equivalent thereto (Training period 3.5 years)

Criteria Rupees per month
On Commencement of Training 10,600
On Passing  any three papers of CFAP 14,500
On Passing all papers of CFAP/any three papers of CFAP and one MSA 20,000
On Passing all papers of CFAP and MSA Level** 40,000

2. Four year Graduate / Post Graduate from Specified Degree Awarding Institutes (Training period 3 years)

Criteria Rupees per month
On Commencement of Training 13,200
On Passing  any three papers of CFAP 14,500
On Passing all papers of CFAP/any three papers of CFAP and one MSA 20,000
On Passing all papers of CFAP and MSA Level** 40,000

3. Other Qualifications (Training period 4 years)

Criteria Rupees per month
On Commencement of Training 9,300
On Passing  any three papers of CFAP 14,500
On Passing all papers of CFAP/any three papers of CFAP and one MSA 20,000
On Passing all papers of CFAP and MSA Level** 40,000

*   Issued as per the decision of 277th Meeting of the Council held on July 29-30, 2016
** Explanation: This rate would also apply to all trainee students who have passed all prescribed examinations required to become member of the Institute.

EXPLANATION REGARDING REVISED STIPEND RATES

The following examples are helpful in implementation of revised Minimum Stipend Rates as specified in Directive 1.03 and are effective July 1, 2016:

Example – 1

Students who have passed three papers of Module E of previous scheme, which are equivalent to any three papers of CFAP
Students who have passed four papers of Module E and one paper of Module F of previous scheme
Students who have passed four papers of Module E and two papers of Module F of previous scheme

All these categories of students would be paid according to the following slab:

On Passing  any three papers of CFAP 14,500

Example – 2

Students who have passed four papers of Module E and three papers of Module F of previous scheme, which are equivalent to any three papers of CFAP

This category of students would be paid according to the following slab:

On Passing all papers of CFAP/any three papers of CFAP and one MSA 20,000

Example – 3

Students who have passed all papers of Modules E and F of previous scheme

This category of students would be paid according to the following slab:

On Passing all papers of CFAP and MSA Level 40,000

 

Schedule of Minimum Stipend Rates for Trainee Student

Directive 1.17

 

February 10, 2014

MINIMUM STIPEND RATES

In exercise of the powers conferred by Section 15 of the Chartered Accountants Ordinance, 1961 read with Bye Law 100 of the Chartered Accountants Bye Laws 1983,

the Council of the Institute in its 250th meeting held on January 24 and 25, 2014 has approved the following minimum rates of stipend during the training period:

A. SPECIFIED RATES

1.CA Intermediate Passed or equivalent thereto (Training period 3.5 years):

Criteria

Rupees per month

On Commencement of Training

    9,600

On Passing Module E or F

  13,200

On Passing Module E and F

  36,000

2.Four year Graduate / Post Graduate from universities approved by the Education and Training Committee  (Training period 3 years):

 

Criteria

Rupees per month

On Commencement of Training

    12,000

On Passing Module E or F

  13,200

On Passing Module E and F

  36,000

3.All other Qualifications (Training period 4 years):

 

Criteria

Rupees per month

On Commencement of Training

   8,400

On Passing Module E or F

  13,200

On Passing Module E and F

  36,000

 

B. EFFECTIVE DATE

This Directive shall become effective from July 1, 2014 on all training contracts registered under the Chartered Accountants Bye Laws, 1983..

C. REPEAL

                Effective July 1, 2014 this Directive supersedes the previous directive 1.17 dated November 14, 2011

               

(250th meeting of the Council held on January 24 and 25, 2014)

 

Khalid Rahman    

Secretary/COO