COMPANY SECRETARY

Details about how to start career as Company Secretary

INTRODUCTION
Company Secretary is a very important member of the company's management. A Company Secretary is a professional whose role in a corporate set up is that of an advisor for legal matters. As per the Companies Act, a statutory requirement is that companies with a paid up share capital of a minimum of Rs 50 lacs are required to appoints Company Secretary. The role of a company secretary is one that places him in a unique position vis-a-vis the Board of Directors. The company secretary is the officer who is the company's chief administrator. However, a company secretary's actual function varies from company to company.

A company secretary is one such professional who is responsible for efficient management of the corporate sector. He co-ordinates and assists various departments of the organization, ensures compliance of company legislation and advises directors on statutory requirements of the company. Apart from carrying out these functions he also looks after finance, accounts, legal, personnel and administrative functions. Company Secretaries basically deal with aspects of management which relate to the company as a legal entity. They keep the company's records; complete the company's tax returns; advise the Board of Directors of their legal obligations. They need to understand the relevant aspects of the law and be familiar with any legislation affecting company business including international legislation if a company operates overseas. They arrange company meetings, collecting and compiling information for them and recording the decisions. They are also the link between the share-holders and management, and arrange the annual general meeting. In many companies, the company's secretary has a direct legal or financial function and is often involved in personnel management. Company Secretaries are administrators who assist in management, planning and the general running of the company.

EDUCATIONAL TRAITS
Graduates or post-graduates in commerce, or any other discipline except fine arts, can enroll themselves directly for the intermediate examination. This exemption is also extended to those who have passed out of the Institute of Cost and Works Accountancy or the Institute of Chartered Accountants of India. For better prospects one may opt for the Company Secretary course after having completed either the Cost and Works Accountancy course or the Chartered Accountancy course or both. The Institute of Company Secretaries of India conducts examinations for different levels of competencies. Those who clear these examinations are granted membership to the Institute.

JOB PROSPECTS
Companies need advice from a person with a thorough knowledge of all relevant laws. This service is provided for by the Company Secretary. So the employment potential in the corporate sector is very high. Openings are also available in government sectors, in bodies like the Bureau of Public Enterprises, government financial institutions and stock exchanges. Other government openings are the Accounts branch of the Central Government Law Services; the finance, law, accounts and merchant banking divisions of nationalized banks.

PERSONAL TRAITS
Must be disciplined and organized.
Expected to have thorough knowledge and understanding of their subject as they may have to deal with complex legal situation.
Excellent command over written and oral English.
Spontaneity and tact to handle complicated issues are also expected. Being aware of their moral responsibility of maintaining privacy should be a criteria for them. An option for the academically inclined is as lectures in universities.
A combination of experience and expertise can lead to appointment at top level positions like chairman, directors and managing director, in reputed organizations.

CAREER OPTIONS
The job positions begin with Junior Secretarial officer, Company Secretary to Financial Advisor. Membership of the Institute has been recognized by the Ministry of Education, Government of India, for appointment to superior posts and services under the Central Government. The Indian Banks Association has also recommended to banks for appointment of company secretaries as specialists in the fields of Finance, Accounts, Law and Merchant Banking. Many senior members have become Chairman, Managing Directors, whole-time Directors in many companies.

EARNINGS
Junior Secretarial Officer Rs. 1500, Deputy Company Secretary Rs. 5000, Company Secretary Rs 7000 to Rs 10,000 Company Secretary cum Financial Controller, Legal Advisor Rs 30,000 and more and perks. The best salaries go much higher (Monthly grades have been indicated).