All about Company Secretary Education in India:
Education is the most powerful weapon which you can use to change the world. – Nelson Mandela
The above quote holds true for company secretary education in India. As one of the few remaining bastions of economic opportunity, company secretary education in India has the potential to create a better future for those who receive it.
However, given the current state of affairs, it is clear that much needs to be improved about how company secretary education in India is delivered. The purpose of this blog is to provide an insights into company secretary education in India, its potential and where it currently falls short.
About Company Secretary Education in India
Company secretaries in India are responsible for ensuring that the companies they work for comply with the law. They also play a strategic role in the management of businesses, providing advice on a range of issues including corporate governance, risk management and legal compliance.
In order to become a company secretary in India, you will need to complete a professional qualification approved by the Institute of Company Secretaries of India (ICSI). The ICSI is the professional body for company secretaries in India and it sets the standards for education and training.
To be eligible for admission to the ICSI Qualifying Examination, you must have completed:
– A Bachelor’s degree from a recognized university, or
– A Professional Competence Course (PCC) from a recognized institute, or
– Foundation Programme from ICSI
Once you have completed your studies, you will need to pass an examination set by the ICSI in order to be awarded the Qualifying Certificate. Once you have obtained your Qualifying Certificate, you will be eligible to register as a company secretary with the ICSI.
The Eligibility Criteria for Company Secretary Education in India
In order to pursue company secretary education in India, one must fulfil the following eligibility criteria:
– The candidate must have completed 10+2 or equivalent from a recognized board or university.
– The candidate must have secured a minimum of 45% marks in aggregate in 10+2. However, candidates belonging to SC/ST category are eligible to pursue company secretary education even if they have secured a minimum of 40% marks in aggregate in 10+2.
The Course Structure for Company Secretary Education in India
The course structure for company secretary education in India covers a wide range of topics.The main subjects taught during the course are: Business Law, Company Law, Secretarial Practice, Economics, Business Mathematics, Financial Accounting, Mercantile Law, Taxation Laws, Auditing, Corporate Governance and so on.
The Exams conducted for Company Secretary Education in India
There are three examinations conducted by the Institute of Company Secretaries of India (ICSI) for CS education in India, they are:
1. Foundation Programme: This is the entry-level exam for CS education in India and any student who has completed Class 12th or its equivalent from any recognized Board can appear for this exam.
2. Executive Programme: The students who have completed the Foundation Programme of CS or have completed graduation in any stream from a recognized university/institution can appear for this examination.
3. Professional Programme: The final stage of CS education in India, the Professional Programme can be pursued by the students who have completed the Executive Programme of CS or have completed graduation in any stream with minimum 50% marks from a recognized university/institution.
The Top Institutes offering Company Secretary Education in India
The following are some of the best institutes in India that offer company secretary education:
1. National Institute of Company Secretaries of India (NICSI)
NICSI is the premier institute in India that offers company secretary education. It is affiliated with the Institute of Company Secretaries of India (ICSI) and offers both Foundation and Professional programs leading to the qualification of Company Secretary (CS).
2. The Institute of Company Secretaries of India (ICSI)
ICSI is the professional body for company secretaries in India. It offers both Foundation and Professional programs leading to the qualification of Company Secretary (CS). ICSI also has a distance learning program for those who cannot attend full-time classes.
3. The Institute of Cost and Works Accountants of India (ICWAI)
ICWAI is another professional body that offers company secretary education in India. It offers the Certified Associate Company Secretary (ACS) course which is a foundation level course for those who want to become qualified company secretaries.
4. The Securities and Exchange Board of India (SEBI)
SEBI is the regulatory body for the securities market in India. It offers a one-year certificate course in securities laws and regulations which is helpful for those who want to pursue a career in companysecretarial practice.
The Job Prospects after completing Company Secretary Education in India
In India, a company secretary (CS) is a qualified professional who helps companies comply with legal requirements. CS education in India is offered by several institutes, both government-run and private.
After completing CS education, students can find employment in various industries, such as banking, insurance, accounting, and law. There is a growing demand for CS professionals in India due to the country’s increasing economic growth and globalization.
CS professionals are typically responsible for secretarial work, corporate governance, compliance, and risk management. They also provide legal and financial advice to companies. The job prospects for CS graduates are good in India due to the growing need for qualified professionals in this field.
The Salary Structure for Company Secretary Professionals in India
The average salary for a company secretary in India is Rs. 5-8 lakhs per annum. However, this figure can differ greatly depending on the size of the company, the sector it operates in and the geographical location. For instance, secretaries working in Mumbai and Delhi tend to earn more than those based in other parts of the country.
When it comes to bonuses and other forms of compensation, again, these can vary depending on the employer. Nevertheless, it is not uncommon for company secretaries in India to receive benefits such as health insurance, housing allowance and transportation allowance.
The Future of Company Secretary Profession in India
The corporate world in India is growing at a very rapid pace. With the booming economy and the ever-growing list of big corporate houses, the need for efficient and effective management of these companies is also increasing. This is where the role of a company secretary comes in. A company secretary is responsible for managing the legal and regulatory compliance of a company and ensuring that it runs smoothly.
The profession of company secretary is thus, very important and has a bright future in India. If you are looking to make a career in this field, here is all you need to know about company secretary education in India.
The Various Roles and Responsibilities of a Company Secretary in India
A company secretary is a senior position in a company or organisation. The role is primarily to ensure that the company complies with all statutory and regulatory requirements. It also involves liaising with shareholders, directors and senior management on compliance matters.
The company secretary is often seen as the ‘glue’ that holds the company together and ensures that it runs smoothly. In India, the role of a company secretary is governed by the Companies Act, 2013 and the rules and regulations issued by the Ministry of Corporate Affairs (MCA).
The key roles and responsibilities of a company secretary in India are as follows:
· Ensuring compliance with the Companies Act, 2013 and other statutes such as the Securities Contracts (Regulation) Act, 1956;
· Drafting and filing various documents with the Registrar of Companies (RoC), such as annual returns, board resolutions, financial statements etc.;
· Acting as a liaison between the shareholders, directors and management;
· Assisting in Board Meetings by preparing agendas, taking minutes and following up on action points;
· Maintaining statutory registers such as the register of members, register of charges etc.;
· Undertaking due diligence work for any proposed merger or acquisition; · Carrying out secretarial audits to ensure compliance with statutory requirements; and · Providing consultancy services on various compliance matters.
The Advantages of Pursuing Company Secretary Education in India
The advantages of pursuing company secretary education in India are manifold. Firstly, the educational institutions here are world class and offer a high quality of education. Secondly, the fee structure for company secretary courses in India is very affordable as compared to other countries. Thirdly, the job opportunities for company secretaries in India are immense and they can find employment in various sectors such as banking, finance, insurance, real estate, etc. Fourthly, the working environment for company secretaries in India is extremely conducive and they can work their way up the corporate ladder quickly. Finally, the social status associated with being a company secretary in India is very high and it is considered to be a matter of great pride and prestige.