ICSI revised increased membership fee from 01-04-2017. Fees doubled but relaxation given to newly inducted company secretaries. FAQ for reduced fee for ACS
NOTIFICATION
ICSI/05/May/2017
The Institute of Company Secretaries of India
1. The Council of the ICSI in its 236th meeting held on 29- 30th March, 2016 had revised various membership fee w.e.f. 1st April, 2017 as under-
| Particulars |
ACS |
FCS |
||
| Fee (upto 31st March, 2017 | Revised fee (w.e.f. 1st April, 2017) | Fee (upto 31st March, 2017 | Revised fee (w.e.f. 1st April, 2017) | |
| Annual membership fee | Rs. 1125 | Rs. 2500 | Rs. 1500 | Rs. 3000 |
| Entrance fee | Rs. 1500 | Rs. 2000 | Rs. 1000 | Rs. 2000 |
| Restoration fee | Rs. 250 | Rs. 250 (No change) |
Rs. 250 | Rs. 250 (No change) |
| Certificate of Practice fee |
Rs. 1000 | Rs. 2000 | Rs. 1000 | Rs. 2000 |
2. The announcement in this regard was notified in the Chartered Secretary Journal in July, 2016 and subsequent issues; and also hosted on the website of the Institute.
3. It is pertinent to mention that the revision in membership fee is done after a gap of 10 years i.e. after 1st April, 2007.
4. After the announcement, the same has been received well amongst the members. However, few representations have been received from members, particularly from the newly inducted young members, expressing their concerns on the amount of fee increased.
5. The Council has taken due note of the concerns and distress of the members, particularly the newly inducted ones, who may be at the threshold of their nascent career and many of whom may be trying very hard to get a foothold in a fiercely competitive environment to establish themselves either in employment or in practice. The Council while empathising with the concerns of the newly inducted members and in order to lessen their hardship, has resolved, in partial modification of its earlier decision, to reduce the quantum of fee for the newly admitted Associate members having 0- 2 years of membership (i.e. members admitted w.e.f. 1st April, 2015 and thereafter), w.e.f. 1st April, 2017 as under-
| Head of fee |
Associate member |
||
| Fee (upto 31st March, 2017 |
Revised fee (w.e.f. 1st April, 2017) |
Reduced fee |
|
| Annual membership fee | Rs. 1125 | Rs. 2500 | Rs. 1500 |
| Entrance fee | Rs. 1500 | Rs. 2000 | Rs. 2000 |
| Restoration fee | Rs. 250 | Rs. 250 (No change) |
Rs. 250 (No change) |
| Certificate of Practice fee | Rs. 1000 | Rs. 2000 | Rs. 1500 |
6. The reduced fee structure will be applicable for the members having membership of 0- 2 years (admitted on any date, on or after 1st April, 2015 to 31st March, 2017) for two financial years only, i.e. for FY 2017-18 and 2018-19.
7. Accordingly, the benefit will also be available to the members admitted on any date, on or after 1st April, 2017 for two financial years, (i.e. the year of admission and the following year) till further determination of fee, if any, by the Council.
8. In nutshell, this benefit will be available to the newly admitted members for a maximum of ‘two’ initial annual membership fee for the period falling on or after 1st April, 2017.
9. A detailed FAQ in this regard is given in Annexure – I.
| New DelhiDate: 11th May, 2017 | (CS Dinesh C. Arora)Secretary |
*****
Annexure – I
| Sl. No. | Question | Answer |
| 1. | Who are eligible for the reduced fee structure? | ACS, having 0-2 years of membership, admitted on or after 1st April, 2015. |
| 2. | For how long ACS, admitted during the period from 01.04.2015 to 31.03.2017, can avail the benefit of the reduced fee structure? | For two years i.e. FY 2017-18 and 2018-19 (irrespective of the date of admission as ACS between 1st April to 31st March) |
| 3. | Whether the reduced fee structure is with retrospective effect? |
The reduced fee structure is applicable w.e.f. 01-04-2017 for the ACS admitted on or after 01-04-2015. |
| 4. | From which financial year ACS, admitted during the period from 01.04.2015 to 31.03.2017, are required to pay the full annual membership andcertificate of practice fee (as revised by the Council w.e.f. 1st April, 2017) |
From FY 2019- 20 on wards. |
| 5. | What is the annual membership fee payable by ACS admitted till 31 .03.2015? | Rs. 2500. |
| 6. | What is the annual membership fee payable by ACS, admitted during the period from 01.04.2015 to 31 .03.2017? | Rs. 1500 in FY 2017-18 and FY 2018-19 Rs. 2500 from FY 2019-20 onwards. |
| 7. | What is the annual membership fee payable by ACS, admitted on or after 01 .04.2017? | Rs. 1500 in the financial year in which admitted as ACS (Rs. 750 in case admitted during the period from October to March)Rs. 1500 in the year following the year of admission
Rs. 2500 from the second financial year following the year of admission. |
| 8. | What are the entrance fee and the restoration fee for ACS, admitted on or after 01.04.2015, if applicable? | It is Rs. 2000 and Rs. 250 respectively (no reduction in these heads) |
| 9. | What is the certificate of practice fee payable by ACS admitted till 31.03.2015 (irrespective of the date of obtaining the certificate of practice)? | Rs. 2000. |
| 10. | What is the certificate of practice fee payable by ACS, admitted during the period from 01.04.2015 to 31.03.2017 (irrespective of the date of obtaining the certificate of practice)? | Rs. 1500 in FY 2017-18 and FY 2018-19 Rs. 2000 from FY 2019-20 onwards. |
| 11. | What is the certificate of practice fee payable by ACS, admitted on or after 01 .04.2017 (irrespective of the date of obtaining the certificate of practice)? | Rs. 1500 in the financial year in which admitted as ACS (Rs. 750 in case admitted during the period from October to March)Rs. 1500 in the year following the year of admission
Rs. 2000 from the second financial year following the year of admission. |
| 12. | What is the fee payable for becoming ACS w.e.f. 1st April, 2017 (if admitted during the period from April to September)? | The fee payable is Rs. 3500. The break-up is as under: Entrance fee – Rs. 2000Annual Membership fee (in the year of admission)– Rs. 1500 |
| 13. | What is the fee payable for becoming ACS w.e.f. 1st April, 2017 (if admitted during the period from October to March)? | The fee payable is Rs. 2750. The break-up is as under: Entrance fee – Rs. 2000Annual Membership fee (in the year of admission)– Rs. 750 |
| 14. | What is the fee payable by ACS, above sixty / seventy years of age, admitted during the period from 01.04.2015 to 31.03.2017, during renewal of membership, in the financial years 2017-18 and | Concessional fee as per the CS Regulations, 1982 as under: FY 2017-18 & FY 2018-19 -Rs. 750 for above sixty / Rs. 375 for above seventy).FY 2019- 20 on wards – Rs. 1250 for above sixty / Rs. 625 for |
| 2018-19; 2019-20 onward, having declared that they are not in gainful employment or practice? | above seventy | |
| 15. | What is the fee payable by ACS, above sixty / seventy years of age, admitted on or after 01.04.2017, during renewal of membership, in the year subsequent to the year of admission, having declared that they are not in gainful employment or practice? | Concessional fee as per the CS Regulations, 1982 as under- Rs. 750 for above sixty / Rs. 375 for above seventy. |
| 16. | What is the fee payable by ACS, above sixty / seventy years of age, admitted on or after 01 .04.2017, during renewal of membership, in the second year subsequent to the year of admission and thereafter, having declared that they are not in gainful employment or practice? |
Concessional fee as per the CS Regulations, 1982 as under: Rs. 1250 for above sixty / Rs. 625 for above seventy |
| 17. | From which financial year ACS, admitted on or after 01.04.2017, are required to pay the full annual membership and certificate of practice fee (as revised by the Council w.e.f. 1st April, 2017) | From the second year subsequent to the year of admission and thereafter. |
| 18. | What is the procedure for fee adjustment for those ACS who have already paid the increased full fee as revised by the Council w.e.f. 1st April, 2017; and who are eligible to pay the reduced membership fee? | The fee already paid in excess consequent to such reduction will be adjusted in the membership fee payable in the next financial year. |
| 19. | In case of any further query/ clarification | Mr. Jitendra Kumar at email id jitendra.kumar@icsi.edu |
| Telephone:01 20-4082134 |
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View Comments
I am a member from the commencement of the Institute.
I am Eighty six year old and have not been in gainful employment for the last several years.
I have paid the normal membership renewal fee for 2018-19 also. What is the amount payable for 19-20.? Can you adjust last years payment for this year also
GST is extra ,i.e, for 2500 fees you pay - 2500+(2500*18%)=2500+450=2950