After completing the executive program, students need to prepare forPractical training during the CS coursewith EDP. The places to pursue the training are professionals independently practising Company Secretaryship, companies with 50 lakhs paid-up capital, the Asset value of two crores, and turnover of not less than ten crores, and Companies registered with ICSI institute. Delay in practical training and exemptions available for practical training requires academic guidance. This blog highlights challenges, FAQ for practical training, and valuable points with article ship training.
What is the work done in an article ship training?
- Company Secretaryship job is next cadre job of administration job. Clientele, infrastructure, turn-over and statutory books are benchmarks that show that the company is suitable for articles training.
- The administration job has two phases. One is related to accounting, and the other is related to legal processes.
- The trainee prepares the draft for circular, notice, agenda, and minutes during the article ship training.
- For collecting the documentssuch as secretarial records, directors’ reports, annual reports, and auditor reports the trainee coordinate with lawyers, state government officials, auditors and directors.
- Check the compliance of orders, and file the returns with the ministry of corporate affairs.
- Communicate with the stakeholders about the decisions and circulate the resolution with circular resolutions.
- The report prepared after completing the article ship training is called a project report. The corporate leadership development programme {CLDP} has been conducted to gauge the project report with a grading system of five points.
- EDP is for one month, and CLDP is for one or two months.
How to handle the delay in CS article ship training?
The sequence of taking training and the registration of training is very important. The student needs to register for the training with documents within 60 days of commencement of training. Twenty-one months of article ship training is mandatory to gain the required professional knowledge. ICSI has signed an MOU with a national level Cochin university for academic dealings. The MOU help the students of both the institutes to explore finance and legal subject. If the student did not file the training with the registration form, then, in that case, he needs to pay a fine depending upon the delay in training. Training is part of the Company secretaryship course, and it is not left to the student as an optional subject. ICSI take immense care to help the students amidst pandemic to complete the training on time as the training lapse time. If the students have post-experience after passing professional level, he is eligible for availing the exemption from the practical training.
Who can claim for article ship training exemption?
- If the student has post-experience of three years in the secretarial department as an assistant or officer, then he can apply for the exemption. The employment is considered as professional experience if the student has worked under state government or central government or PSU or bank or financial institution or statutory body.
- The second case is the professional with five years of experience under the practising company secretary.
- The third case is for the students who have experience with management consultancy of chartered accountants or cost accountants. Such experience is considered for exemption.
- In the case of advocates, the professional’s experience is for five years. The students with five years of post-experience with lawyers have eligibility to claim the exemption for archonship training.
- The fifth case is for students with professional qualifications in management. The Company or institution must have sufficient operations to guide the students with Company Secretaryship experience.
- Five years of experience is essential for students with teaching experience.
- When claiming the exemption audited report of the organization along with the experience certificate is mandatory. An exemption fee of 20,000 needs to be paid online. The exemption fee is not refunded by the academic institute.
- Disciple during practical training is very crucial. Option for the maximum exemption from CS article ship training is for one year only.
Conclusion
The delay in training and practical training exemption – ICSI is accepted to give room for the comfort of the student. For every three months, the student needs to submit the project report. This help for knowing the details of the practical knowledge acquired. So, during 21 months of article ship training seven reports must be prepared and submitted to the ICSI institute. The student receives a stipend of 5,000 to 10,000 for managing the conveyance cost. Article ship training is essential to gain the long-term experience of practical challenges in the job.
