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02 December,2021 | By Brainwonders
A company secretary is a person hired to guarantee that all regulations governing a company's operations are followed in order to formalise corporate transactions. As a result, he/she must have a thorough understanding of the many company laws and regulations.
A company secretary, according to the Company Act of 2013, is a member of the Institute of Company Secretaries of India (ICSI). According to the Company Secretaries Act, any company in India with a paid-up share capital of INR 5 crore is required to appoint a CS.
A company secretary, as a crucial component of the management team, is expected to take a unified picture of the firm's overall business or operation and aid management in making sound decisions.
In general, a course of company secretary teaches to perform following three major functions.
The following is a quick follow up of a company secretary's most important functions and responsibilities.
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Chief Administrative Officer: The chief administrative officer is responsible for overseeing the company's overall administrative functions. A company secretary may be asked to operate as Chief Executive, taking full responsibility for the company's operations and performing any of the Board's tasks that may be entrusted from time to time.
One of the professions with attractive compensation and a wide range of options is that of a company secretary. After the successful completion of the course of a company secretary, there are many job options available. The salary of a Company Secretary is decided by the skillsets, knowledge, and experience of the employee. Company secretaries typically make a salary that is proportional to their level of expertise. In India, a starting wage might range from Rs. 28,000 to Rs. 40,000 per month. There are many prospects for advancement as a business secretary gains experience, and a reputable firm can raise a company secretary's income to Rs. 100,000 per month.
Apart from the course of a company secretary, there are some skills required as well given as follows.
A Company Secretary (CS) must be well-versed in corporate law. He has to make sure that corporate governance is taken care of as an in-house legal specialist.
A CS must keep up with the newest developments and interact with the board of directors to make decisions about board meetings, corporate governance, and other matters. As a result, he must have strong writing and vocal communication abilities that can be applied to a variety of situations.
You are responsible for ensuring that the Board of Directors follows the Companies Act's rules and regulations, as well as other regulatory compliance, which necessitates him to be continually on the lookout for all operations.
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Truth: The job opportunities depend on the skills of the candidate. There can sometimes be difficulty in finding the right job but it is a very vast field.
Truth: Company Secretary includes corporate law, but it is much broader than this.
Truth: The job of a Company Secretary entails much more than routine tasks.
Truth: There are also corporate secretaries who are technologically savvy.
Truth: This misconception to students believe that CS is exclusively for those who are adept at mugging theory.
Eligibility: After completing 10+2, a student who wishes to continue the Company Secretaries can enrol into the foundation course.
Eligibility: Individuals who have completed their graduation can enrol on this programme.
Eligibility: Those who have cleared the executive programme can enrol into this programme.
After completing the course of a company secretary, you can find good jobs as a qualified corporate secretary in the commercial and public sectors, as well as banks and financial institutions. Job postings can also be found at stock exchanges, the Department of Company Affairs, company law boards, and numerous government offices.
Corporate Laws, Corporate Governance, Corporate Administration, Board and Shareholders Meetings, Corporate Compliance Management, Stakeholder Relationships, Mergers and Acquisitions are only a few of the responsibilities of a Company Secretary in the corporate world, according to ICSI.
ICSI certification is required for independent practitioners. They can then provide compliance certificates to businesses and conduct due diligence reports for banks and other financial institutions.
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