Company Secretary in Employment

Company Secretary in Employment

Pursuant to section 383A of the Companies Act, 1956, companies having a paid- up share capital of ` 5 crores or more, as prescribed by the Central Government, are statutorily required to appoint a whole-time Company Secretary. Membership of the Institute is the only prescribed qualification, which a person must possess for appointment as a Company Secretary in such a company. Pass in Executive Programme examination of  the  Institute  is  one  of  the  alternative  qualifications prescribed for appointment of Company Secretary in companies having paid-up share capital of less than ` 5 crores. Also, all companies seeking listing on stock exchanges are required to have whole-time qualified Company Secretary.

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. It is also one of the essential qualifications for recruitment to Grades I to IV in the Accounts Branch of the Central Company Law Service of the Central Government.

Almost  every  kind  of  organization whose  affairs  are  controlled by boards, councils  and  other  corporate  structures  be  it  a  co-operative,  trust,  society, association, federation, statutory authority, commission, board or the like, finds it useful to appoint a person who holds the qualifications of Company Secretaryship in key  administrative positions.  Professional Institutes and  educational bodies  also consider utilization of the services of Company Secretaries on full or part-time basis for academic or research assignments in the fields of accountancy, law or management. Besides, Department of Personnel and Administrative Reforms of the Central Government empanels Company Secretaries as professionals for assignment of Indian experts to the developing countries of Asia, Africa and Latin America.