Accounting for internship allowances

The bonuses paid to trainees, more commonly known as internship allowances, follow a fairly simple accounting procedure in practice. For best accountancy training Best school of accountancy In Pakistan.

Rules governing training periods and allowances

Strict regulations are in place to regulate work placements in order to avoid abuse. For example, it is impossible to use a trainee to replace an absent or dismissed employee, to cope with a temporary increase in activity, to take up a seasonal position or, more broadly, to take up a permanent post requiring performance Regular tasks. Moreover, the course must be part of a training course comprising at least 200 hours of training per year. As such, the signing of an internship agreement is compulsory. The following speakers will have to sign it: the school, the company and the trainee.

In general, an internship cannot exceed 6 months per academic year or academic year (924 hours if the internship is split). However, some exceptions exist. The number of trainees is also capped:

Companies with fewer than 20 employees may, at most, accommodate 3 trainees simultaneously,

Companies with 20 or more employees can hold 15% of their workforce on training courses.

When the internship lasts more than 2 months during the same school year, the company must remunerate the trainee and pay him a minimal bonus each month. This measure applies as soon as the trainee has at least 309 hours of presence in the company. If the quota of hours is not filled, the gratuity is optional.