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Company Secretary The growth of a CS in a company cannot be explained with any limit, as the limits of the growing need and importance of a CS has exceeded every explainable limit. The CS today, has a diverse and a multifaceted role and a range of duties, making him or her one of the most important components in a firm or organization.
Today, with the compulsion or compulsory requirement that every firm, with a paid up share capital of Rs-5 lakhs or more has to appoint a person in the capacity of a Company Secretary or CS, there is an exceeding need and importance that has taken precedence in the area of Company secretoryship. The role of a CS is defined and has with it, a multitude of strokes that makes being a CS of importance and stature in a firm or organization.
The role of a Company Secretary is one that is considered of prime importance to a company or organization, and in fact, as mentioned earlier in a former archive of this website, there is an innate need for a CS in nearly every conceivable organization today. After all, the CS is the first and last word in the arena of the law and order of a firm. Every company encounters situations where there are tax, legal or multi queries or general day to day activities that come up (arise) and to look into the soundness of the foundation, which is the basis of the firm or organization, then the t he appointment of a Company Secretary is a non negotiable decision and it is one that is of supreme and gaining importance. And this explains with clarity, the rising and the here-to-stay importance of t he position of a Company Secretary.
The Role of a Company Secretary There are many jobs in an administration along with various roles and duties. The most important role of a company secretary is to plan and direct all the meetings for the company and to supervise events held by the company. A role of a company secretary is very administrative as all the communication between senior managers and directors is through them. To organize any meeting for the company it is a company secretary¶s job and he/she has to ensure that they maintain a record and inform the authorities. aut horities.
Each and every meeting held by the company has to be attended and recorded by the company secretary. A company secretary should have a good listening skills and organizing skills so that
he/she is able to write good reports. There are many various duties which are performed by the company secretary and all these duties depend on company to company.
A company secretary¶s job involves many different administrative duties like typing up letters, contacting clients, writing e-mails and arranging meetings between companies. Some company secretaries also work on departmental paperwork when necessary.
Company secretary are expected to be present on each and every event held by the company so that they can keep a record of it. The working hours of a company secretary depends on the company, thought overtime is expected in this job because of events and meetings. Outdoor meetings are too possible and it is necessary for the company secretary to attend it, so it is essential that the company secretary is flexible and comfortable with these changes.
The company secretary should be well educated in computers because now a day¶s most of the work is performed on computers. He/she should have a good typing skill and should be through with program like Microsoft office.
The Role of a Company Secretary A company secretary is not as the name suggests the person who is a company secretary is a senior posting in the organizational structure of a company and the role of a CS or a Company Secretary varies and depends largely on the size of the company.
A CS or a Company sercretaryship entails a person who is in the capacity of a CS to mark a presence by affiliating with the different sections of a company, say accounting, finance, personnel and every other conceivable department of the organization. The role of a CS is that of a senior position in the company and in case of a company which is public or going public, the management of the public issue falls under the responsibility of the Company secretary.
The role of a CS has been one that is of utmost importance to a firm or organization. The annual returns of a company have to be signed on, by a Company secretary. Finance, such as Institutional finance and other matters regarding legislature, audit, matters to do with MRTP and Foreign exchange regulations have to be looked into by the multi-tasking Company secretary. Unless you are prepared for multi tasking and multi dimensional work structures, do not attempt to study to become a CS. But a CS, once the education for being one is completed, is a dimensional and faceted
role for an organization.
The ICSI , which is a premier institute for Company Secretary-ship studies is a wonderful platform for extracting information that is apt and the best for the aspiring future role of a CS in any company or firm. In any case, the role of the CS in a company is a large one, especially with the act that was passed regarding the compulsion to appoint a CS if the firm is of a paid up share capital of Rs.5 lakhs or more.
Scope for Company Secretary
With recent regulations that are strict and stringent, every company with a paid up share capital of Rs.5 lakhs has to appoint a person in the capacity of a Company Secretary. There is a lot of scope for Company Secretaries across the globe as nearly every company today has a paid up share capital of over Rs.5 lakhs or Rs.5 lakhs.
The career or scope for a CS is large. Firstly, it is nowadays that it has become a fad, if it can be termed as that, to study and become a CS. Earlier, the most common and assumed courses of study were an MBA or an Mphil or the likes of the same. The studies venturing into the aspects of a company secretary have more recently, gained phenomenal importance and precedence. The ICSI is the best institute to educate oneself in the arena of company secretor ship and there are branches in all the metropolitan cities of India, of the institute and the entrance tests are conducted across the nation in differerent and a variety of places/centres.
The career of a CS in simple words is one that has many tiers to it. By tiers, I mean, layers and fortitude of responsibilities and dimensions that fall in the purview of a Company Secretary. As an ironic situation, there is the mention of secretary in the term µCompany secretary¶ but the job description is nothing similar to being a personal or a person¶s secretary. It is that of being a secretary or a guide, to the entire company or organization and therefore, there is the stating of the terminology µCompany Secretary¶, a secretarial or a guiding position to the entire organization and the legal rhythm maintaining factor of it. To hire a CS, is like hiring a sound element and incorporating a legal tone that is neutral within the company.
Responsibilities of a Company Secretary
Many people believe that a company secretary is exactly similar to a receptionist, but that¶s not the case. It is true that there are many similarities between both the jobs but there is a difference being a company secretary and a receptionist. People who want to go for this job should take a look at this
The responsibilities of a company secretary are different from a receptionist. A receptionist job is basically to look nice and to answer the phone and to welcome the clients who visit the office. Whereas, for a company secretary he has to perform all the above duties of a receptionist and plus he should schedule the meetings according to their boss to avoid any mishaps. He also has to deal with the clients in the absence of the higher authorities and is expected to organize all paperwork. A company secretary has to supervise all the events conducted by the company and should check the
conference room before the clients enters. Sometimes they even have to go to pick up supplies for a presentation. The secretary is expected to perform work outside office too, he is asked to deposit cash and to pick up items related to work from different locations. However, a receptionist performs her duty inside the office without stepping out of the office. A receptionist only has to answer the phone all the time.
Even in times of recession there are jobs always available for company secretary and a secretary gets around $12-$14 dollars per hour which is almost a double to a receptionist salary. A receptionist mainly two qualities in him, first he should have good communication skills and the second, he should have a pleasant personality. But a secretary should have good communication skills, a striking personality, should have the ability to handle clients and to have an alert brain to solve problems during a meeting.
Career Prospects as a Company Secretary
Do you want your salary to touch the sky? If that¶s the case then you should make a career as a company secretary. This job is in great demand and is offered in almost all c ountries in the world.
What is the exact job of a company secretary? As a secretary, you have to arrange meetings for the company, answer the phone, solve the queries that client have when they call. Company secretary job is similar to a receptionist; he/she is the primary person in charge of all the events happening in the company so it is necessary for you to be well organized to avoid confusion and delays. You should build a good communication relation with your boss so that you can plan and schedule
meetings according to his convenient. He/she is the person who conveys all important decisions to the workers which are made by the higher authorities.
A company secretary should look neat and presentable because he/she is the first person to interact with the client. The secretary should be very confident and should have all information about the company he/she is working in so that he can answer questions which clients have. He /she should wear formals which are clean and well ironed and which suits the company¶s image. If you are working in a construction company you should wear a Levi¶s and a decent t-shirt.
How much a company secretary does get paid? A secretary usually get around $10-$12 dollars per hour. They can work as part time or full time as a secretary. You can also expect bonus and increment on a regular basis in this job.
There are mainly female contenders for a company secretary¶s job. But now even male population is making an entry in this field, giving a competition to the women.
An Overview of a Career as a Company Secretary As you know, a company¶s progress depends on its workforce. Company¶s growth is in its workers hands so if a company has intelligent, smart and hard working employees the company¶s progress is definite. In all these employees there is one important employee called company secretary who handles all the administrative work and has knowledge of security laws, corporate law, capital markets and corporate governance.
However, a company secretary¶s responsibilities in all the firms are similar but it may vary due to the requirements of the company. In earlier industrial stages, this job was preferred by women but now men are too entering this field and giving an equal competition. Company secretary job is in very much in demand.
Basically in a company, the duty of every worker from top to low level is to perform his job efficiently in its own way but a company secretary has to present his work with all the colleagues at all levels. A secretary¶s job is to fill the gap between workers at lower level with higher authorities. This job is not restricted to certain limits, the secretary has to perform many various tasks at all levels. The major job is to update managers and board of directors about the meetings, recording the important points in the meeting and to handle confidential documents. After the
meeting is conducted, the secretary has to inform the staff about the decisions taken in the meeting.
Qualifications required for company secretary¶s job:
To get admission in a reputed institute, you should have a 12 th standard certificate with a commerce background or you can apply at The Institute of Company Secretary of India for a Company Secretary course. As you complete your course and become a registered member of the institute, you can apply in various companies and organizations for company secretary¶s job.
The Duties of a Company Secretary The duties of a CS are many. Like mentioned prior on this website, there are many duties that fall in the umbrella of work for a CS. The main duties of a Company Secretary involve the legal handling of matters in a company; the legal manifestations that happen in an organization are all handled and managed by a Company Secretary. In fact, rules state that any company with a paid up share capital of Rs.50 lakhs or more has to appoint a person under the title of CS- Company Secretary.
Keeping in mind that a CS is not as the name suggests, a CS is not the assistant or the deputy to a manager or Company head, the position of a CS is that of a person primarily looking into the legal soundness and the maintenance of the same of a company. There are other duties that a CS performs in the areas of accounting, revenue, litigation and many more departments of a company or organization. Which goes to show, that duties of a CS are many in number and that makes the presence of a CS in a company one of great importance.
The duties of a CS are faceted with so many dimensions that like stated in an earlier archive of this website, makes a Company Secretary a person of great stature and a one that has the balancing act of the organization in the purview of his job/position in the company/organization. Finding and hiring a CS would be equivalent of partially, if not fully, leaving the legal activities and the balancing of the same, in that respected organization, on to him or her! The importance of a CS is not stated enough, or rather, not stated as much as it should be. A CS forms half the lifeline of the firm¶s foothold in the market.
Educational Requirements of a Company Secretary Company secretary needs to be educated from institutes that offer the CS course of study or then,
the best option for a great and comprehensive course in CS or Company secreatryship is the ICSIthe Institute of Company Secretaries of India. The institute teaches everything and anything that has an affiliation or a presence in the wide and vast role and responsibility of a Company secretary.
The institute ICSI was constituted or formed under the Companies Secretary act, 1980. It was mainly established with the sole motive to regulate the company secretary¶s role and profession in an organization. There are many centers of ICSI in India and there are CS certified courses across the globe, with many colleges offering certified courses on CS. The ICSI has four main centers in Delhi, Mumbai, Calcutta and Chennai. The examinations for entering the CS course are competitive and require prior study and knowledge and the examinations are multi held or in other words, held or conducted at different centers and institutes across the country.
If there is a question about someone yet wanting to know about which companies require a Company Secretary, the answer is that every company ideally does. Every company requires a CS, but with the new rule, the good news is that the companies which have a paid up share capital of Rs.5 Lakhs in the minimum require to have a Company Secretary. This is imperative and compulsory, according to the government law. The act is a boon as companies are starting to realize the innate need for a CS, even those companies which have less than Rs.5 lakhs share capital that is paid up, are recognizing the talents and the ease that is brought about in the company via having a CS.