Company Secretary

How To Have A Career In Company Secretary

A Company Secretary (CS) is an individual who handles the legal responsibilities of a company. They are hired to efficiently handle the tax return, keep records, advising board members, and be up to date with new rules and regulations made by the government.

There are a few interpretations one can do about the term “Company Secretary”. According to the business dictionary, a Company Secretary is an officer appointed by the director of a company to ensure that the firm is legally fulfilling its obligation.

About the Company Secretary

A Company Secretary often signs legal documents on behalf of the company. His/her regular duty also includes calling meetings, keeping track of the minutes of the meetings, keeping statuary records, accurate execution of contracts, execution, and resolutions.

The management committee of a farm is usually busy with the execution of the goals. They hardly get time to interact with every legal prospect of the company. That is why they hire a Company Secretary to do this job. It is not always necessary to hire a Company Secretary. 

If a company has two directors, one director may act as a company secretary. The Company Secretary also keeps in touch with the shareholders or directing committee members. 

Eligibility to Become a Company Secretary

Students aspiring to be Company Secretary in the future must complete three stages after their 10+2. There is no restriction regarding stream in 10+2. Students with any stream in their 10+2 can become Company Secretary.

Institute of Company Secretaries of India offers these three stages. The stages are Foundation, Intermediate, and Final. Upon completing all three stages and practical training a student is considered to be an Associate Company Secretary.

Except for the fine arts department, graduate and postgraduate students can directly enroll themselves in the second stage of the course.

How to Become a Company Secretary

In India, The Institute of Company Secretaries of India is the only authorized organization to produce new Company Secretaries. This organization is responsible for giving training to thousand of Company Secretary.

After completion of 12th, students need to take admission in the three-staged program of the course offered by ICSI. The duration of the first stage(foundation) is eight months. Candidates must complete the foundation stage within three years of admission.

Qualified students from the first stage can attend the second stage(intermediate). After completion of the second stage, the candidates can attend the final stage. Candidates have to go training program during the second stage and after the final stage.

Training is the most crucial part of the entire process. One has to complete the practical training after the final stage to get the Associate membership of the ICAI. After completion of the Training and Final stage, one is certified to be Associate Company Secretary.

Top Company Secretary Institute in India

  • National Law School of India University (NLSIU), Bangalore.
  • Gujarat National Law University (GNLU), Gandhinagar.
  • Rizvi Law College (RLC), Mumbai.
  • Rajiv Gandhi National University of Law (RGNUL), Patiala.
  • Navkar Institute, Ahmedabad.

Company Secretary Entrance Exam

Company Secretary Entrance Exam:

There is no particular entrance exam in this profession. The only thing is one has to enroll himself/herself in the course offered by the Indian Institute of Company Secretaries of India (ICSI). If the student manages to get through all the stages and complete the practical training program afterward, he/she can become an Associate Company Secretary.

 

Career Opportunity in Company Secretary

There is an ample amount of opportunity in this field of work. Students after completing their course can get different job profiles based on the market demands. The salary of these new Company Secretaries is quite good compared to market standards.

Professional CS’s work in the stock exchange, company affairs department, different law farm, government organizations. Sometimes a Company Secretary can be the independent legal advisor to a firm.

Employment Industry/sector for Company Secretary

The employment industry sector or industry is not particularly the same for every Company Secretary. Usually, as they look after all the legal aspect of a company’s operation, their work sector uses to be in the law sector.

From filing taxes and working with excise and customs law to fulfilling every other legal responsibility of a company, Company Secretaries fulfill the legal obligations of a company.

Jobs in Company Secretary Profession

  • Company Registrar: An very significant part of the company’s working hierarchy.
  • Legal Advisor: Advises a company in a case of legal issue with the government or any other company.
  • Chief Administrative Officer: A high-ranking officer in a company who looks after all the usual operations in a company and also safeguards important legal documents.
  • Principal Secretary: The work of a Principal Secretary mainly includes planning meetings. This can be meetings with the clients, directing board meetings.
  • Corporate Policymaker: Corporate policymaker is a profession where the person makes policies for the company which can either be long-term or short-term. Reviewing these policies from time to time is also part of their job.
  • Members of the Board of Directors: Sometimes, a board of directors member can also serve a company as Company Secretary. 

Salary of a Company Secretary

The starting salary of a Company Secretary in Indian standards is 3 lakhs rupees per annum. The more experience one gets, one salary increases.

 A Company Secretary with some experience can earn 6 lakhs rupees per annum. And a Senior CS can earn up to 9lakhs to 12 lakhs rupees per annum.

 Study Material to Become Company Secretary (CS)

  • Company Law by Sangeet Kedia.
  • CS Executive Company Law by NS Zad.
  • Tax Laws and Practice by Sangeet Kedia.
  • Cost and Management Accounting by NS Zad.

Pros & Cons of Becoming a Company Secretary

Pros

  1. The recent demand for Company Secretary in the market is uprising.
  2. Very handsome salary and lucrative opportunities.

Cons

  1. The course offered by ICSI is not something very famous internationally.
  2. Tremendous work pressure.

FAQs about Company Secretary