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Is CS Articleship paid?

The Company Secretary (CS) articleship is considered as the training period of this course, and this period lasts for 21 months according to the policies of the Institute of Company Secretaries of India (ICSI).

The question raised by the students is whether the CS articleship is paid or not. So the answer to the question is that, yes, the articleship of the CS course is paid.

To know more about the stipend of the CS articleship, check out the below-mentioned article.

Stipend amount of the CS articleship

During this articleship period, the students pursuing the training are paid an appropriate stipend amount, which is decided by the ICSI. Therefore, the stipend amount of the articleship is mentioned below:

Minimum stipend amount payable to the students during articleship

 

Students who are pursuing training after having registered in the Executive Programme

Students who Passed Executive 

Students who Passed Professional 

If pursuing training under PCS

Minimum stipened amount is Rs 2000 per month.

Minimum stipened amount is Rs 3000 per month.

Minimum stipened amount is Rs 4000 per month.

If pursuing training in any company or other entities

Minimum amount is Rs 3000 per month.

Minimum amount is Rs 4000 per month.

Minimum amount is Rs 5000 per month.

 

Firms that provide practical training or the articleship

Sr. no.

Firms

Eligibility Standards

No. of trainees allowed

1

Firms

Companies (whether public or private) having paid up share capital of Rs. 50 lakhs or more

Maximum 20 trainees

2

Company Ltd. by guarantee

Companies should possess gross annual receipt of Rs 1 crore or more.

Maximum 20 trainees

3

MCA and its Offices

RD, ROC & office of OL etc

Maximum 20 trainees

4

Law Firm

Law firms that have been working from last 5 years  and have at least 5 partners

Two trainees per partner, subject to a maximum of 20 trainees in one law firm

5

LLP

General LLP, CS Non Attestation LLP having not less than half of its partners are members of ICSI and having net worth or capital contribution or turnover of not less than Rs 50 lakhs

Two Trainees per partner subject to maximum 20 trainees in one LLP

6

Government Bodies

Training can be undergone with government bodies or departments, public sector undertakings, statutory bodies

Maximum 20 trainees

7

Financial Institutions

FI having gross fixed assets minimum of Rs. 10 lakhs and having standing of at least 10 years

Maximum 20 trainees

8

Banks

All banks recognized by RBI

Maximum 20 trainees

9

Universities

Universities recognized by UGC

Maximum 20 trainees

10

Practising Company Secretary (PCS)

Having a Certificate of Practice of ICSI

Maximum 20 trainees

 

  Skills obtained during articleship

There are a number of skills that are acquired by the trainees during the articleship time period, which is the main motive of the ICSI. The acquired skills are mentioned below:

  1. Preparing a Draft: Drafting is one of the vital commitments of the Company Secretary, as it drafts all the legal documents of the company, like the company’s conclusions and notifications, other than writing answers to agreements, notices, etc. Preparations of drafting will lead to understanding about the arrangements of the Companies Act, 2013,  which will be beneficial for the examination.
  2. Self- Initiative: One should learn about being receptive to new ideas during this articleship time period. This will result in candidates being raised with a problem-solving mindset in all aspects of life.
  3. Teamwork skills: Under this articleship time period, the students learn about teamwork as it is necessary to coordinate with the co-workers.
  4. Familiarity with finance: The students of the CS might gain practical knowledge by working with finance specialists to prepare financial documentation.

  Conclusion

If we conclude the article, mainly you’ll come to know about the articleship period of the CS course. With a greater emphasis on corporate governance, on-going regulatory reforms, etc., the CS is currently regarded as the protector of the company's complaint to legal standards due to the expansion of their job and multiplication of their obligations.

In this condition or a situation, articleship appears to be an important component in preparing someone to handle the company as the Company Secretary. This training period gets the students ready for the challenges of the professional life that they will face as the Company Secretary of the company.

How are mentorship plans helpful?

With the help of mentorship sessions, one can prepare well for the articleship. As the students are preparing for the CS course, sometimes students get demotivated by the syllabus or the exam pattern and sometimes get confused about how to get started with preparations. So the mentorship sessions guide students in the right way.

The Bhagya Achievers Test series is one of the online platforms that provides mentorship plans under which the mentors advise the students about the syllabus and the pattern of the exam according to the ICSI. And for the students who are unable to prepare a suitable study plan, mentors provide accurate study plans to the students for good preparation. 

Bhagya Achievers also provides Pass Guarantee- Pass Batch and Pass Guarantee Batch- Pro, which helps the students prepare themselves for the course and the articleship as well.

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