What is Form 102 Sample of Stamp Paper for Articleship?

Definition & Meaning of Form 102

Form 102, often referred to as the Deed of Articles, is a crucial legal document for individuals pursuing a Chartered Accountancy (CA) articleship. This form serves as an official agreement between the article assistant and the principal, outlining the terms and conditions of the articleship. It is essential for the registration process with the Institute of Chartered Accountants of India (ICAI). The form must be executed on non-judicial stamp paper or a special adhesive stamp of the appropriate value, which indicates that the requisite stamp duty has been paid.

How to Obtain the Form 102 Sample of Stamp Paper for Articleship

Acquiring a sample of Form 102 involves several steps:

• Locate a Sample: Sample copies of Form 102 can typically be found on educational websites that cater to CA students or directly from the ICAI website.
• Purchase Stamp Paper: The physical form must be printed on non-judicial stamp paper. This stamp paper can be purchased from authorized vendors.
• Fill Out the Form: After obtaining the stamp paper, fill out the form with the necessary details, ensuring all information is accurate and complete.
• Sign the Document: Both the article assistant and the principal must sign the completed deed, making it legally binding.

Steps to Complete the Form 102 Sample of Stamp Paper for Articleship

Completing Form 102 requires careful attention to detail. Here are the steps involved:

• Gather Required Information: Collect all necessary details about the article assistant and the principal, including names, addresses, and registration numbers.
• Purchase the Correct Stamp Paper: Ensure you buy the stamp paper of the correct value as specified by local regulations.
• Fill in the Details: Accurately fill in the form, including the duration of the articleship and specific terms agreed upon by both parties.
• Review for Accuracy: Before signing, review the document to ensure all information is correct and complete.
• Sign and Date: Both parties must sign and date the document to validate it.
• Submit to ICAI: Finally, submit the signed document to the ICAI for registration.

Legal Use of Form 102 Sample of Stamp Paper for Articleship

The legal use of Form 102 is critical for the formalization of the articleship. It serves as evidence that both parties have agreed to the terms laid out in the deed. This form is not only essential for registration with the ICAI but also acts as a safeguard for both the article assistant and the principal, ensuring that the rights and responsibilities of each party are clearly defined. Failure to use this form can lead to complications in the registration process and potential disputes.

Key Elements of Form 102 Sample of Stamp Paper for Articleship

Understanding the key elements of Form 102 is vital for its correct execution. The main components include:

• Parties Involved: Clearly state the names and addresses of both the article assistant and the principal.
• Duration of Articleship: Specify the start and end dates of the articleship period.
• Terms and Conditions: Outline the responsibilities and expectations of both parties during the articleship.
• Signatures: Ensure that both parties sign the document to make it legally binding.

Who Typically Uses Form 102 Sample of Stamp Paper for Articleship

Form 102 is primarily used by individuals pursuing a Chartered Accountancy qualification in India. This includes:

• Article Assistants: Students who are undergoing practical training under a qualified CA.
• Principals: Chartered Accountants who are supervising the training of article assistants.
• Educational Institutions: Institutions that provide resources and guidance for CA students may also refer to this form in their training programs.

Examples of Using Form 102 Sample of Stamp Paper for Articleship

Practical examples of using Form 102 can clarify its application:

• Example One: An article assistant named John Smith enters into an agreement with Principal Jane Doe. They complete Form 102, detailing a two-year articleship starting from January 1, 2023, and ending on December 31, 2024.
• Example Two: A CA firm may have multiple article assistants. Each assistant must have a separate Form 102 executed with their respective principals, ensuring all agreements are documented and legally valid.

Important Terms Related to Form 102 Sample of Stamp Paper for Articleship

Familiarity with important terms associated with Form 102 can enhance understanding:

• Articleship: Practical training period for CA students under a qualified CA.
• Principal: The supervising Chartered Accountant responsible for the training of the article assistant.
• Stamp Duty: A tax paid on legal documents, which must be fulfilled for Form 102 to be valid.