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| GUIDELINES
FOR PAYMENT OF MEMBERSHIP FEE AT REDUCED RATE |
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The
guidelines for payment of membership fee at reduced rate
have been revised w.e.f 6th April, 2009 as follows:
Eligibility :
A member of the Institute may obtain approval for
payment of membership fee at a reduced rate by making an
application to the Secretary in plain paper declaring
that :-
1. His age is 60 years or above.
2. He is not engaged in any gainful employment or
practice.
Evidence :
The member concerned is required to produce evidence to
the satisfaction of the Institute of his age and
retirement.
Fees :
Upon approval from the Institute to pay membership fee
at reduced rate, the member concerned shall pay a
reduced annual membership fee as under:
Associate Member: Rs. 100/- (upto 2009-10) and Rs.125/-
(from 2010-11 onwards)
Fellow member :Rs. 150/- (upto 2009-10) and Rs.250/-
(from 2010-11 onwards)
Members who have attained 60 years of age or above
may kindly send a signed application in plain paper to
the Secretary, The Institute of Cost and Works
Accountants of India, 12, Sudder Street, Kolkata – 700
016 with the following declarations in terms of
Regulation 7(4) of the Cost and Works Accountants
Regulations, 1959 to the effect that they:
1. Have attained the age of 60 years or above;
2. Are not engaged in any gainful employment or
practice.
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The following clarifications are given in this context:
1. If a member is engaged in any occupation during a
part of a financial year by way of employment, practice
or any other manner, he will be required to pay full
amount of membership fee pertaining to that financial
year.
2. A member continuing to be engaged in practice from
1st April to 30th June of a particular year from the
previous year shall be entitled to pay membership fee at
reduced rate from that financial year onwards subject to fulfilment of other conditions in terms of Regulation
7(4) of the Cost and Works Accountants Regulations,
1959.
3. A member desirous of paying membership fee at reduced
rate with retrospective effect shall be permitted to do
so subject to fulfilment of other conditions in terms of
Regulation 7(4) of the Cost and Works Accountants
Regulations, 1959. If the name of a member is removed
from the Register of Members for non-payment of fees but
otherwise fulfils the conditions in terms of Regulation
7(6) of the Cost and Works Accountants Regulations,
1959, he shall also be permitted to pay membership fee
at reduced rate with retrospective effect, but will have
to pay restoration fee at prescribed rate and submit
Form ‘H’ in terms of Regulation 17 of the Cost and Works
Accountants Regulations, 1959. |
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