Harsh Reality of Company Secretary Profession
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This letter is to enlighten you with the harsh reality of Company Secretary field which is being faced by a number of fresher and even 1-2 years experienced who had chosen to be a Professional to serve Country and Company by complying with ethical Corporate Governance. The profile of a Company Secretary sounds so fascinating but reality is overall different. I am a Company Secretary by profession from last 2 years and in those 2 years I have been sitting idle at my home more than I have served for my Government or my nation. As the practices which are being followed by our seniors is misdeed and it is being followed by majority of the senior Council members, young professionals have nobody to share their grievance with or to apply for justice/solution.
Practices that are being followed by practicing professionals both CS and CA is they will create a vacancy, interview a professional and give him/her 2 options either to appoint as a Company Secretary in one of their Client Company on their payroll and rather than sitting at Company’s office they will ask them to sit in their office, as it fulfills two purpose from one person. Practicing Professionals will take the work of their office from that person and compliance requirement of that Company to appoint a Company Secretary is also fulfilled (this is First option) or ask them to take practice number, apply their digital signatures in each and every form and to raise professional bills of their client to reduce their own tax liability (this is the second option) and moreover, in both of the above options, salary that is being offered to fresher/1-2 years experienced varies from Rupees 20, 000/- to 30, 000/- per month. A professional is being offered such amount of salary is such a shame as a normal graduate person can earn more than this. Despite of all this, CS will be held liable for all the non compliance done, in a Company where is not actually involved as he is appointed as a Company Secretary of may be one of the Client Company of his boss who is either PCS/PCA or in a Company in whose forms his DSC are appearing that he has signed but in actual either he has not signed or has signed forcefully or under wrong impressions of his/her boss.
Now, the question arises that if there are so many issues then why do young professionals accept the job and agreed to either option 1 or 2. As these practices are followed largely in number amongst most of the practicing senior professionals and on left with no other option, young professionals have to choose either option hardheartedly in order to survive and earn their bread butter as there are many of them who have left their hometown and have come to a different city in search of Job. Moreover, non-compliance of law in India is not a big thing, there are multiple Companies that are registered and have requirement of appointment of CS but has not appointed any yet and Ministry of Corporate Affairs does not take any action them.
In furtherance of the above, the reality of Government vacancies are also moreover same. There is hardly any vacancy from the public department and if there is one, it asks for experienced person of 5-10-15-20 years and moreover in a public department with a net worth of this amount and more. There is no requirement for fresher professionals.
In the end, some of the professionals are either sitting at home out of dignity and some of the options are opting either option out of compulsion. I have seen lots and lots of post on facebook of some members who has decided to come forward and to raise the issue before everyone and are willing to take some major steps like candle march etc as per the comments of that post, this petition is for all those who is willing to do something to change the situation for our betterment and to take a step forward. This is to raise the issue so that the concerned departments can take swift action against it in order to ensure the compliance of the regulatory laws.
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