Company Secretary: Full form, Course Details, Fees, Salary, Jobs and Scope

By: Udit Trivedi on 2022-06-23 05:20:44

Overview

A Company Secretary (CS) is a critical member of a company's management team. A company's compliance and legal elements are assigned to a CS. The Institute of Company Secretaries of India (ICSI) is the governing body for the profession of company secretaries in India. A member of the ICSI is referred to as a CS. The CS's key responsibilities include managing the business's books of accounts, assessing its tax returns, counselling the board of directors on legal and financial concerns, and making sure that the company follows all statutory regulations. A company secretary also maintains the business's yearly records and maintains contact with shareholders to guarantee that their dividends are paid out.

About ICSI

The Institute of Company Secretaries of India (ICSI) is India's sole recognised professional association for the development and regulation of the profession of company secretaries. It is a leading national professional organisation founded in 1980 by an act of Parliament known as the Company Secretaries Act. The Ministry of Corporate Affairs of the Government of India oversees ICSI's operations. The Institute delivers top-notch education to students enrolled in the Company Secretaries (CS) Course, as well as the highest quality standards for CS Members. ICSI now has over 50,000 members and about 4,00,000 pupils on its rolls.

Headquarters – ICSI House, 22 Institutional Area, Lodi Road, New Delhi – 110 003

Website: www.icsi.edu

E-mail: info@icsi.ed

For All Students' Related Queries and Services – Helpline nos. 0120 – 6204999, 3314111

CS Course Details

As a multifunctional professional, a Company Secretary provides services in the following areas:

  • Secretarial and Corporate Governance Services
  • Advisory and representation services in the area of corporate law
  • Services in Management
  • Services for the Financial Markets

The Institute of Company Secretaries of India regulates and maintains company secretaries. Thousands of aspiring Company Secretaries are trained and instructed under ICSI. At present, ICSI has over 50,000 members and about 4,00,000 students on its rolls.

CS Course Levels

The Institute of Company Secretaries of India offers a 2–3-year course for CS. The following is the duration of each step of the company secretary course: 

  • CS Foundation: 8 months (replaced by CSEET examination in 2020)
  • CS Executive: 9 months
  • CS Professional: 15 months

 

Stage 1

CSEET 

Stage 2

CS Executive Course (CSEET Examination)

Stage 3

CS Professional Course (9 papers)

Stage 4

Pre-membership training

Stage 5

CS Membership 

Stage 6

Continuing Professional Development

 

Why become a Company Secretary?

  • Obtaining a Professional Profile:CS is a professional course, and upon completion, you will be able to obtain employment in top companies and preferred designation, allowing you to obtain a professional profile after passing the CS exams. 
  • Improved Job Satisfaction:As a Company secretary, you will have a lot of influence and your opinion will be taken seriously. As a result, your judgments and ideas will have a significant impact on the company's smooth operation and overall success.
  • Flexibility:  Another significant advantage of starting a job as a company secretary is that you may complete this course concurrently with your graduation, which adds to the course's appeal.
  • There is no such thing as an age limit: There is no upper age restriction for taking the CS exams, according to the Institute of Company Secretaries of India's standards. 

Who should take the Company Secretary course?

  • Students with a background in commerce who want to pursue a prestigious career in this industry might choose Company Secretary.
  • Candidates with great mental strength and persuasive capacity are encouraged to apply for the CS course, since these two qualities are essential in the job of a Company Secretary.
  • Additionally, there are several ideal skill sets that candidates must possess in order to pursue this course. Strong communication skills, time management, and multitasking are among them. You should also be knowledgeable about corporate legislation, operate as a careful planner, and have an excellent command of spoken and written English.

CS Eligibility 

Earlier, the Company Secretary course was recommended to mainly students coming from a Commerce background. However, nowadays, candidates with any stream in class 10+2 and a knack of hard work and determination to achieve in the profession are qualified to pursue a career as a Company Secretary. 

CS Course Steps

The first step: Students must take the ICSI Foundation course after Class 12. The foundation course lasts for eight months. The foundation course must be completed within three years of admission. Students who have completed the ICSI Foundation Course may enrol in the ICSI Executive Course. Graduates and Postgraduates (except those students enrolled in Fine Arts) can, however, enrol directly in the Intermediate course without first completing the Foundation course. Students who pass the ICSI Intermediate course are qualified for the last step of the ICSI course, which is the Final.

Significant steps:  The most significant step for students taking courses in Company Secretary is training. During the Intermediate/ Executive level and following the final level exams of the Company Secretary course, students must participate in short-term training programs. 

Final Steps: After completing an Executive or Final level course, practical training is required to achieve an ICAI Associate Membership. These students are qualified for the position of Associate Company Secretary after successfully completing practical training and the final level ICSI course. A Company Secretary's career begins only after obtaining eligibility as an Associate Company Secretary.

What is the ICSI CSEET Exam?

The Institute of Company Secretaries of India administers the CSEET, or Company Secretary Executive Entrance Test, as a national-level examination via online remote proctored format. From February 2020, the CSEET test the ICSI Company Secretary Foundation course. All candidates, including graduate and postgraduate students, who intend to follow the ICSI Company Secretary programme must currently register for and pass the CSEET test in order to be admitted to the ICSI Company Secretary Executive programme.

The test contains four exams, according to the CSEET syllabus: 

  • Business Communication
  • Legal Aptitude, and Logical Reasoning
  • Economic and Business Environment
  • Current Affairs, Presentations, and Communication Skills

 

The Company Secretary Executive Entrance Test (CSEET) is the first step in getting into the CS executive programme. Applicants can take the CSEET test in any of the four sessions: May, July, November, or January. A cost of Rs. 1000 is required for each CSEET session. For the students' convenience, the admission process following the CSEET test is outlined below:

CSEET Exam Months

CSEET Registration Dates

CSEET Exam Dates

CSEET Result Dates

CS Executive Course Registration Deadline

May

January 21 to April 15

Saturday that is closest to May 10

By May 20

May 31 (to appear in both modules of Executive Program in December session in same year)

July

May 21 to June 15

Saturday that is closest to July 10

By July 20

July 31 (to appear in single module of Executive Program in December session in same year)

November

July 21 to October 15

Saturday that is closest to November 10 

By 20th November

November 30 (to appear in both modules of Executive Program in June session next year)

January

November 21 to December 15. 

Saturday that is closest to January 10

By 20th January

January 31 (for appearing in single module of Executive Program in June session in same year)

 

CS Executive Course:

Candidates who have qualified in CSEET must register for the CS Executive course as per their preference. The registration dates are given below. 

 

Session Month

Modules

Dates

June Session

For All Modules

November 30 (previous year)

For One Module

January 31 (same year)

December Session

For All Modules

May 31 (same year)

For One Module

July 31 (same year)

 

CS Executive Course Fees

 

Particulars

Fees to be paid by students who have passed:

CS  Executive Entrance Test 

CS Foundation Programme

CA Final course

ICMAI CMA   Final course

Registration fee (INR)

2000

2000

2000

2000

Education Fee (INR)

6500

6500

6500

6500

CSEET Exemption Fee (INR)

0

0

5000

5000

Pre-Exam Test Fee (INR)

1000

1000

1000

1000

One-Day Orientation Program Fees (INR)

600

600

600

600

Chartered Secretary Journal

Subscription (Optional) for one year (INR)

500

500

500

500

Total Fees (INR)

Rs 10,600

Rs 10,600

Rs 15,600

Rs 15,600

 

CS Professional Course Fees

 

Education Fee (INR)

Rs 12,000

Pre-Exam Test Fee (INR)

Rs 1,000

Total Fees (INR)

Rs 13,000

 

ICSI CS Foundation Course Important Dates 2022

 

The important dates for ICSI Company Secretary Foundation program June session examination 2022 are mentioned below:

 

Exam Date

Subjects

Batch Number

Exam Timing

15th June 2022

Paper 1 -Business Environment and Law And Business Management

 

Paper 2 - Ethics and Entrepreneurship

I



 

II

9:30 AM    11 AM



 

4 PM          5 PM

16th June 2022

Paper 3 -Business Economics 

 

Paper 4 -Fundamentals of Accounting and Auditing

I


 

II

9:30 AM    11 AM



 

4 PM          5 PM

CS Skill Set 

Skills 

Detailed Information

Communication

It is necessary for a CS to possess effective written as well as oral communication skills that can be useful.

Compliance

A CS must ensure that the Board of Directors follow the Companies Act's rules and regulations, as well as other regulatory compliance.

Time Management

A CS must be alert about compliance concerns, which necessitates the ability to multitask.

Meticulous Planning

A CS needs to ensure that all the departments are abiding by the law and complying with terms and conditions.

Attention to detail

To ensure proper flow of information, track irregularities, taking into account grievances of shareholders, negotiate with stakeholders, etc.

 

CS Roles and Responsibilities

According to Section 205 of the Act, the CS nominated by a corporation must execute the following duties:

  • Report on the company's compliance statement to the board of directors.
  • Ascertain that the firm is adhering to all secretarial regulations.
  • Perform any additional obligations as assigned by the board of directors of the corporation from time to time.

CS Scope in India

Wherever work is done in a commercial or other office, CS is essential. SEZs (Special Economic Zones) provide greater opportunities for the same area in large cities and corporate regions. More job prospects for people are created by larger metropolitan centres and commercial hubs.

Competition:

While there is more competition in the corporate secretary field, demand is significantly higher. This is due to the increased profit margins and many incentives available to persons seeking work in the computer science area. Because of the current economic scenario, there are less unfilled CS positions. As a result of the combination, competition is severe, and only the most experienced and competent candidates are considered for the position of corporate secretary.

CS Salary in India 2022

In a corporate setup, a CS is assigned to high-ranking positions. Certified Company Secretaries can earn extremely significant pay based on their abilities. The table below shows the typical salary structure for a Company Secretary at different levels of position:

 

CS Job Profiles

Initial Salary per annum (in INR)

Mid-Level Salary per annum (in INR)

Senior Level Salary per annum (In INR)

Company Secretary

Rs. 3,00,000

Rs. 6,00,000

Rs. 12,00,000

Legal Advisor

Rs. 3,00,000

Rs 5,00,000

Rs. 10,00,000

Principal Secretary

Rs. 3,00,000

Rs. 6,00,000

Rs. 12,00,000

Company Registrar

Rs 4,00,000

Rs 6,00,000

Rs 12,00,000

Chief Administrative officer

Rs 8,00,000

Rs 12,00,000

Rs 18,00,000

 

How To Prepare For CS Exam?

Experts and previous year's top scorers have stated that it is best to begin studying six months before the exam date. You'll have ample time to go through all of the topics thoroughly. If you work hard during this time, you will be able to pass the CS test in 2021-2022.

  • The first two months: Examine each issue in depth and come up with a comprehensive plan. Make an effort to tackle the most challenging topics first. It will assist you in resolving any doubts you may have about those topics before the exam.
  • Next two months: After completing study materials and books, it's time to work on sample papers so that you have better knowledge and an approximate notion of what the actual test would be like.
  • Remaining two months: The last two months should just be about revision. Spend at least 3-5 hours every day on this. Do not attempt to learn a new concept until the last hour if you are not sure about your ability to do so.
  • If you want to study for the CS test, make a schedule to cover all of the topics. Begin with a difficult topic and try to build as broad a foundation as possible. You may simply develop a detailed understanding of that issue by doing so. It will also assist you in achieving a higher grade on the final test.

CS Youtube Channels

  • CS Neha Patel
  • Vikas Vohra
  • CorpTut

CS Forums

  • Linkedin
  • Youth4work.com
  • https://www.icsi.edu/home/

What After CS Course 

Here is a list of courses you can pursue with or after completing the CS course:

  • Post Graduate Diploma in Financial Management + Post Graduate Diploma in Financial Planning & Wealth Management

  • PhD in Commerce, Management and Law
  • PGDM (GB) Global Business
  • PGDM (HR) Human Resource & Organization Development
  • Master of Business Administration (MBA)

CS Placement Analysis

ICSI provides excellent placement opportunities for its members. The Institute has a specialised placement cell that assists organisations in hiring both freshers and experienced Company Secretaries. Candidates are placed in PSUs, banks, NBFCs, and other organisations. Four regional offices and 70 chapters work together to organise ICSI placements. Major corporations recruiting CS and members seeking jobs are both served by Company Secretary Placements. Candidates can register for free on the institute's placement site. Massive placement drives are organised by the Institute to provide an appropriate platform for its members to locate career prospects.

 

The following roles are available to students after clearing the CS Exam:

  • Company Registrar 
  • Legal Advisor
  • Corporate Policymaker
  • Chief Administrative Officer
  • Principal Secretary
  • Corporate Planner
  • Administrative Assistant
  • Administrative Secretary
  • Investor in Capital Market Relations
  • Contents Coordinator

 

Top Recruiters for CS Graduates

 

Many companies participated in the ICSI mega placement drive conducted in various regions. Some of the companies included Vedanta Industries, Apollo Tyres, HT Media, Vodafone, etc. Here is the list of top recruiters:

RailTel Corporation of India

Apollo Tyres

HT Media

Vodafone

AST Telecom Solar Pvt Ltd.

Ascot Hotels & Resorts Pvt Ltd.

Lifelong Meditech Private

Rajdhani Flour Mills Limited

Terai Tea Cop Limited

Eastern Silk Industries

Emami Group

Ramtech Industries Ltd.

Yes Bank

MPPL

 

Process for Dismissing a CS

The following is the procedure for removing a CS:

  • The board of directors can fire the CS by fulfilling all of the requirements of his or her appointment and recording it.
  • After giving notice to all of the company's directors of the CS's removal or resignation, they pass a board resolution removing the CS.
  • Within thirty days, file form DIR-12 with the Registrar of Companies, together with the required filing costs.
  • In the case of a publicly traded firm, notify the stock exchange where the company's shares are traded.
  • To keep track of company secretaries' information.
  • At the next board meeting, the corporation should replace the vacant post of CS within six months.

 

Difference between CA and CS

The career prospects are one of the most noticeable differences between CA and CS studies. As these are significant courses in the area of commerce, candidates must have a thorough understanding of the basic disciplines in this stream. The path to obtaining prestigious credentials varies significantly.

 

Basis

CA

CS 

Full Form

Chartered Accountancy 

Company Secretary

Course Description 

CA Course aims to equip students with the intricate knowledge of Accounting and Finance 

CS provides students with an expert understanding of Corporate Governance and Company Law

Conducting Body

Institute of Chartered Accountants of India(ICAI) 

Institute of Company Secretaries in India(ICSI)

Course Duration 

5 Years

2-3 Years

Qualifying Levels 

CA Foundation,

Integrated,

Professional,

CA Final 

CS Foundation,

Executive,

Professional Course 

Subjects of Study 

CA course focuses on subjects like Taxation, Finance, Banking, Accounting, etc. These subjects include direct taxes, fundamentals, and basics of accounting, auditing and assurance, CAFM (cost accounting and financial management), MAFA (management accounting and financial analysis), etc.

CS course offers subjects that help aspirants become an expert in company law. These subjects in detail are Tax Laws, Company Law, General and Commercial Laws, Economic Labor and Industrial Laws, Banking and Insurance, Basic Economics, and Business Environment, etc. 

Levels 

A CA course can be cleared in 4 levels:

CPT exam

IPCE 

Articleship 

CA Final exam 

A CS course can be cleared under 3 levels:

Foundation course 

Executive program 

Professional program 

Foundation Exam 

Mandatory for all 

Mandatory only in the case of an undergraduate. Commerce graduates can directly appear for the executive program. 

Articleship 

Minimum for 3 Years 

15 Months of Training

Duties 

A CA is required to advise the company on matters concerned with finance and taxation 

A CS is required to act as the compliance officer for the company 

 

Conclusion

Although CS experts are aware of legal issues, shareholders and management must express their concerns in order to avoid compliance violations and ensure effective corporate governance. Company Secretaries can work under minimal stress and enjoy flexible working hours. Another advantage of working as a Company Secretary is the good pay. In India, the average annual compensation for a Company Secretary is Rs. 6 lakh.

Overall, CS provides a fruitful and respectable career, guaranteeing a successful future. 

FAQ's

Q1) What are the laws that regulate the appointment of a Company Secretary?

Ans. The following laws regulate and govern the appointment of Company Secretaries:

1.The Companies Act, 2013

2. Securities and Exchange Board of India (SEBI)

 

Q2) What is the link to the CS official website?

Ans. https://www.icsi.edu/home/

 

Q3) What is CS full form?

Ans. A company's Company Secretary (CS) is one of the most important positions. A qualified Company Secretary is responsible for the legal elements of a company or a person.

 

Q4) What are the jobs available after CS?

Ans. Company Secretaries can find employment in the following sectors:

  1. Public and Private Sector
  2. Banks
  3. Financial Institutions
  4. Stock Exchanges
  5. The Department of Company Affairs
  6. Company Law Boards
  7. Government Undertakings

Q5) Is mathematics a mandatory subject for the Company Secretary course? 

Ans. No, mathematics is not a required subject for those interested in pursuing the Company Secretary programme.