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All You Need To Know About The Course Of Company Secretary

02 December,2021  |  By Brainwonders

About Company Secretary as a career: 

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.

What does a company secretary do?

What does a company secretary do?

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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  • Support for the Board of Directors: Company secretaries not only give secretarial support to the board, but they also provide professional advice on a variety of topics. He/she is to function as the Board of Directors' agent. The company secretary serves as a conduit for putting the Board's decisions into action and giving shape to the policies established. In their interactions with the company, they must represent the Board of Directors to shareholders, employees, and outsiders.
  • Company Registrar: They function as the company registrar and are an integral part of the company's managerial structure. He/she is responsible for secretarial duties such as filing various business returns with the Registrar of Companies, registering share transfers and transmissions, correspondence with shareholders, and registering their instructions including other things. 
  • Legal advisors:  They are responsible for assisting the company in the event of any legal issues. They also guarantee that the company follows all company, security, and corporate laws' statutory and bureaucratic mandates.
  • Business Policymaker: Company secretaries are responsible for putting together the company's short- and long-term corporate policies. They also provide advice to the company's board of directors when existing business policies are brought up for reconsideration.

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.

What is the salary of a company secretary? 

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.

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Skills needed to become a company secretary:

Apart from the course of a company secretary, there are some skills required as well given as follows. 

  • Expertise in the field of corporate law:

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.

  • Communication Capabilities:

Communication

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.

  • Following the rules: 

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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  • Time management: It is extremely important to manage the time in order to avoid any penalties in the course of the company secretary. 
  • Detailed attention to everything: Tracking extremely detailed information is very crucial for a company secretary. 
  • Planning: To ensure all the departments are working fine legally, planning is very important for a CS( Company Secretary). 
5 myths surrounding the company secretary career:
  1. Myth: Company Secretary does not include many job opportunities. 

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. 

  1. Myth: CS is a corporate lawyer

Truth: Company Secretary includes corporate law, but it is much broader than this. 

  1. Myth: Company Secretary is not able to provide relevant information. 

Truth: The job of a Company Secretary entails much more than routine tasks.

  1. Myth: Company Secretary lacks technological knowledge.

Truth: There are also corporate secretaries who are technologically savvy.

  1. Myth: Company Secretary has a mind blocking syllabus.

Truth: This misconception to students believe that CS is exclusively for those who are adept at mugging theory.

5 Reasons to study the course of company secretary: 
  1. The Institute of Company Secretaries of India (ICSI), a fully registered Institute by passing an Act in parliament, offers a Company Secretary (C.S.) course.
  2. This is a great way to rekindle your passion while still gaining valuable experience in the corporate world.
  3. There is no age restriction for pursuing the course. 
  4. In a firm, the job of a company secretary is highly regarded and respected.
  5. It is one point of contact for all the advice in the firm.
Stages to become a Company Secretary : 
  • Foundation course: 

Eligibility: After completing 10+2, a student who wishes to continue the Company Secretaries can enrol into the foundation course. 

  • Executive Programme: 

Eligibility: Individuals who have completed their graduation can enrol on this programme. 

  • Professional programme: 

Eligibility: Those who have cleared the executive programme can enrol into this programme. 

Employment opportunities in Company Secretary: 

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 sector

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.

  • Self-Employment/Practising Company Secretaries

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. 

Famous company secretaries in India: 
  1. CS Preeti Malhotra: She is the first female president of ICSI- Institute of Company Secretaries of India.
  2. CS Dr Shyam Agarwal: He is a fellow member of ICSI and was the president of the Institute of Company Secretaries of India for the year 2017. 
  3. CS Devendra V. Deshpande: He is the current vice president of the institute ICSI. 
  4. CS Nagendra D. Rao: he is the current president of the Institute of ICSI.

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