What are the functions of the company secretary?

What are the functions of the company secretary?


Though a company secretary does not have the equal role and responsibilities of a director, you cannot underestimate the functions of a company secretary. A company secretary is very vital to any organization's smooth functioning and success. Several CS firms in Mumbai provide the best company secretary with years of experience and in-depth knowledge regarding their duties and responsibilities. A company secretary is a person who is a member of the institute of company secretaries in India.


A company secretary should have specific qualifications to be able to carry out the responsibilities bestowed on them. Mentioned below are some of the capabilities of a company secretary of top CS firms in Mumbai.


  • A company secretary should have in-depth knowledge regarding the Company's law. The rules of the meetings are vital, and the company secretary should know the same.

  • A company secretary should know the different laws such as mercantile law and labor law. There are specific issues that companies have to go through, such as patents, trademarks, and copyright—knowing the same laws helps to get solutions quicker.

  • A company secretary should have both practical and theoretical knowledge in economics. Several economic problems may arise while running a company, making it essential to have an in-depth understanding of its economics.

  • Besides a company secretary should have a sound general knowledge for the best results. The company secretary should be smart and have a high IQ for the best results.


Functions and Duties of a Company Secretary:


The functions of the company secretary are divided into two, which are better known as statutory functions and non-statutory functions. Mentioned below are the company secretary services.


Statutory Functions:


Signing the annual returns, registering the allotment returns, conveying the yearly general meeting, and issuing the share certificates. Besides, the company secretary also maintains the share registers and the registers of the directors. As per the stamps act of India, it is the duty of the company secretary that proper stamps are affixed with all the documents. Moreover, as per the Indian sales tax act, the company secretary must register the Company and submit all the tax returns.


As per the income tax law, a company secretary is responsible to deducts all the taxes from the employee's salary. In addition, the company secretary is also responsible for providing dividends and ensuring the income tax returns are filed to the authorities for the best results.


Non-Statutory Functions:


  • the company secretary is an employee of the organization and represents the board of directors.

  • The actions mentioned by the board of directors should be by the law.

  • The meetings are prepared by the company secretary between the chairman and the board of directors.

  • The company secretary is responsible for recording the attendance of the directors.

  • The company secretary arranges the payment of the directors' fees

  • The company secretary acts as a middle man between the directors and the shareholders.


Conclusion:


Mentioned above are the functions of the company secretary firms in Mumbai. A company secretary plays a vital role in any company taking it to the heights of success.


Summary:


This article explains the functions of the company secretary.


Resource Box:


Legaljini is one of the most renowned outsourced accounting, tax, legal, company law firm offering services to some of the most prominent companies in Mumbai and the entire country.

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