CS Training in Firm or PCS or Company
CS Training under Firm or PCS or Companies
As per regulation of ICSI (as amended from time to time) a student is required to complete Practical experience and Training requirement in such a manner and mode as may be determined by the Institute. Presently Practical training for twenty one months after completion of Executive Development Programme has been determined that is required to be done:
In a company that has a company secretary in whole time employment or in any other company that qualifies the criteria as may be determined by the Institute. OR
Under a Practicing Company Secretary that qualifies such criteria as may be notified by the Institute. OR
In any institution or any other body corporate or entity that satisfy such condition as may be determined by the Institute.
The executive passed students, on whom the older training structure is applicable; they may start their training within 06 months i.e. on or before 3.8.2020 under earlier/modified training structure. Afterwards they will be automatically shifted to new training structure as determined under New Regulation, 2020
ICSI has issued the types of various entities eligible for imparting training and they are:
Company limited by Guarantee
MCA and its Offices
Company Secretary (PCS)
Training under law Firms
A student can undergo his CS Training in a law firm that is of 5 years old and having minimum 5 partners which shall impart training up to 3years/2years/one year or 21months in accordance with the provisions of Company Secretaries Regulation 1982 (as amended from time to time) and in accordance with the guidelines laid down by the Council from time to time. Two trainees per partner subject to maximum 20 trainees in one law firm are allowed for undergoing training under law firms.
The best firms for CS training are registered with ICSI to impart training to the students ensuring to provide a good training environment to the trainees with adequate work exposure during the training and some of the well known firms are Chandrasekaran Associates, RSJ Associates, Singh & Associates, Nishi Talwar & Associates, MA & Associates, Khyati Shah & Co.
CS Training in a Company
Students of CS course can undergo CS Training in a Company whether public or private; listed or unlisted having paid up share capital of Rupees fifty lacs or more as well as under Company limited by Guarantee having gross annual receipt of Rs 1 crore or more as per last audited financial report.
A student who wish to undergo training under company can apply to the training section of the ICSI in Form (ST-10) mentioning the name of companies as per his preference along with EDP Certificate. List of companies for imparting 3years/2years/one year or 21months training registered for imparting training with the Institute is available on the website of the Institute.
“A student is required to undergo Practical training for twenty one months after completion of Executive Development Programme in a company that has a company secretary in whole time employment or any other company that satisfies such criteria as may be specified by the Institute.” – As per new regulation 2020.
Best company for CS training are registered with ICSI to impart training to the students while some of the well known companies for imparting training to the students are Corporate Professionals Capital Pvt. Ltd, Deloitte Touche Tohmatsu Limited, Cummins India Limited, Hindustan Salts Limited, NHDC Ltd and Godfrey Phillips India Limited.
Scope of work in CS Training
Getting registered for practical training in a company gives an opportunity to a student to work with different departments. Hence the area of work in CS training in a company includes getting involved and working with various departments particularly:
Secretarial that includes handles board meetings, drafting minutes, support in shares issue & Legal section
Finance & Accounts which includes making costing estimates, Management Accounting, internal audit & assessment of duty and taxation
Administration which includes general administration, marketing, handling industrial
& public Relations, personnel and material Management etc
Articleship with a Practicing Company Secretary gives an exposure to work for even a small to a big company. The area of work in CS training in a firm involves project planning which includes promotion, formation and incorporation of companies, raising of financial resources, corporate restructuring, foreign collaborations and joint ventures abroad,
corporate laws advisory services companies act, state laws, tax planning and management income tax, issue of certificates under various statutes companies act/stock exchanges and personnel matters.
While CS training comparison under a company and a firm, a student is need to consider what his outlook for future is and based on the exposure, time management for studies and the career opportunities, the decision of undergoing training under a firm, company or a practicing company secretary shall be taken.
For variety of exposure and better placement & career opportunities, CS students always look for CS training in metro cities as there are number of well known companies, firms and practicing company secretaries that offer the most diverse work and build a strength to face new challenges in corporate and other sectors.
Now, this also need selection of the metro cities, in which training shall be opted. Students who wish to make their professional career in Industries can go for Gurgaon, Jaipur, Noida, Chandigarh and Jamshedpur. While those students who wish to practice in their future can look for the best firms at Mumbai, Pune, Ahmedabad, Banglore and Delhi.
Comparison of Training under a firm And Company
|Career Opportunities||If the career prospects is to practice in
further, Firm shall give all the necessary exposures and help in building professional career as Practicing
|Opting company shall give opportunity to build the competence and skills in emerging as a Company
|Assignments ranging from incorporation
& business setups, liquidations, M & A's
(rarely), compounding offences, holding
AGM's and the related functions, listing
compliance's, due diligence, matters
relating to indirect taxation, drafting and
vetting, board restructuring and financial
restructuring and last but never the
least, the experience of dealing with
Directors and clients
|It is based on the working scope
of the company on its core
activities, issue and redemption
of shares, paying dividend,
preparing for the Board and
Annual General Meetings and
coordinating with other
departments of Company.
|Stipend||Mostly it begins with minimum amount
of Rs 4000/- per month for professional
programme passed students
|Mostly it begins with Minimum
amount of Rs 5000/- per month
for professional programme
Summary: ICSI training structures has been defined by ICSI from time and CS students are required to undergo in the same manner and under different organization, firms, PCS and companies. It is believed that training period of any student is the most essential period where the ultimate motive of a student is to learn maximum and acquire knowledge and experience. Opting to commence training under Company or Firm depends mostly of the
future outlook of the student itself.