Know the Complete details of Beneficiary Scheme for Chartered Accountants in Practice

Know the Complete details of Beneficiary Scheme for Chartered Accountants in Practice

Beneficiary Scheme - Chartered Accountants in Practice - taxscan

The Committee for Members in Practice (CMP) comprising CA. Nihar N Jambusaria (President ICAI); CA. (Dr.) Debashis Mitra (Vice-President ICAI); Central Council Member and Chairman CMP, ICAI and Central Council Member and Vice-chairman CMP, ICAI came up with the  Beneficiary Scheme for Chartered Accountants in Practice.

1.  Insurance Products

LIC Term Insurance: The Committee arranged in the form of specially designed Group Term Insurance through the LIC for Members of ICAI. The Term Insurance policy will cover death due to any reason.

Personal Accident Insurance: The Committee arranged in the form of specially designed Personal Accident Insurance through the New India Assurance Company Limited, Mumbai for Members& Students of ICAI. The Personal Accident Insurance policy will cover Death/Permanent Total Disability, loss of Limb(s) & Permanent Partial Disability including reimbursement of hospitalization expenses.

Medical Insurance: The Committee arranged in the form of specially designed  Medical Insurance for Members of ICAI.

Professional Indemnity Insurance: The Committee has arranged insurance protection for members in practice/firms in the form of specially designed professional indemnity insurance at a reasonable premium i.e. 85% discount in market rate. The scheme is  for the Members in practice/ Firms of the ICAI.

Motor Vehicle Insurance: A MOU with New India Assurance Co. Ltd for Motor Vehicle Insurance arranged by the Committee. The Motor Vehicle Insurance is basically designed for the members but also has been extended to the employees of ICAI. The Motor Vehicle Insurance for which MOU is being executed has value added features such as Unique Offer of 65% discount on OD for both Private cars and two Wheeler etc. Members  may purchase the Motor Vehicle Insurance Policy online at the website.

Householder’s Insurance: The CCBMP arranged in the form of specially designed Householder’s Insurance through the New India Assurance Company Limited, New Delhi for Members of ICAI. The Householder’s Insurance policy will cover insurance of building and contents against fire & allied perils inclusive STFI & EQ, housebreaking including larceny & theft, jewellery & valuables, employers liability (WC) on annual wages etc.

Office Protection Shield Insurance Scheme: Capacity Building of Members in Practice (CCBMP), ICAI initiative for the arrangement for Office Protection Shield Insurance at special premium for the Members in Practice/CA Firms.

The Capacity Building of Members in Practice (CCBMP) of ICAI has arranged Office Protection Shield Insurance at special premium for members of ICAI. The scheme has become effective from 18th September, 2013 for the Members in practice/ Firms of the ICAI.

2 . Software Products

The committee has arranged various software products for its members namely Tally Software Solutions, Integrated GRC Product Suit Software, Papilio Software for the Practitioners, Practice Management Software, Arrangement for XBRL software Practitioners & CA Firms, Antivirus Protection Facility. The Committee has arranged the ‘GST Software (Annual Returns)’ for Practicing Chartered Accountants & CA Firms of ICAI.

3 . Certificate Courses

The committee has arranged a Virtual Certificate Course on Preparation of Appeals, Drafting of Deed & Documents and Representation before Appellate Authorities and Statutory Bodies and Virtual Certificate Course on Wealth Management & Financial Planning.

4 . Publications

Publications of the Committee: The Committee has taken an initiative to bring out  Ready Referencer- 2019 for the CA fraternity, highlighting latest developments in the profession. The Quick Insight contains important information on tax, accounting & auditing standards, limited liability partnership, Management consultancy services, statements and standards and standards on audit as well as information on important forms related to CAs.

The ICAI has come up with the various publications like Strategic Roadmap for CA firms to Operate as Virtual Firms, Practitioner’s Perspective, Handbook on Regulatory Aspects of Articled/Audit Assistant etc.

5. Financial Services

The committee has arranged for the financial services namely Credit Cards facility, Loan Facility and SME Finance for Chartered Accountants under CLP By SBI for its members.

6. IT Infrastructure

The  committee has arranged for the IT Infrastructure namely CA Firm Portal and Laptops (Lennovo and HP) for its members.

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