Can CS And CFO Be The Same Person?

Is KMP applicable to private companies?

Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (KMP Rules) requires every listed company and every other public company having a paid-up share capital of ten crore rupees or more to appoint KMP..

Can a CS become CEO?

CS holds a very high rank or position in a firm and also comes right next to the CEO and Managing Director, and whole-time directors. A company secretary can be the CEO of the company too, which keeps his/her position close to the board of directors.

Is the CEO higher than the CFO?

The CEO assumes the main role of overseeing the operations of the entire company, from sales to administration. He holds the highest rank in the company and only reports to the board of directors. On the other hand, the CFO assumes the highest-ranked financial position in the company.

Is CFO mandatory for listed companies?

As per the Companies Act, 2013, Every listed company and every other public company having a paid-up share capital of ten crore rupees or more are required to appoint Chief Financial Officer (C.F.O.) as Key managerial personnel (KMP). … Though, a company can voluntary comply with this provision.

Who is the highest paid company secretary in India?

He has been with the Tata Group for over nineteen years and has experience in Corporate Finance, Treasury and Company Secretarial functions. 6 Biswa Behari Chatterjee ITC 1.14 Crores. 7 Subhashis Mitra CESC 1.02 crores. 8 Sanghvi Mittal CIPLA 1.01 crores.

Who is higher than a CEO?

In general, the chief executive officer (CEO) is considered the highest-ranking officer in a company, while the president is second in charge. However, in corporate governance and structure, several permutations can take shape, so the roles of both CEO and president may be different depending on the company.

How many years does it take to be a CFO?

How long does it take? A CFO job is not one that you can get right out of school. It takes many years of experience to build up the necessary skill set to be an effective CFO. A CFO of a mid to large sized company usually is going to have a minimum of 10-15 years of experience.

What is the average salary of a CFO?

$371,548 per yearThe average yearly salary of a chief financial officer (CFO) can vary based on a number of factors, but the median compensation for a CFO in the U.S. as of April 2019 was $371,548 per year, according to Salary.com.

Who can be CFO under Companies Act 2013?

Who is required to appoint a CFO under the Companies Act, 2013? As per Section 203 of the Companies Act, 2013, every public company having paid-up share capital of Rs. 10 Crore or more shall have a whole-time Key Managerial Personnel, which includes the whole time Chief Financial Officer.

Can a person be CFO of two companies?

One can opine that: Company required separate person for each category. Therefore, there should be at least 3 separate people to comply with provisions of Section 203(1). If in the given example MD also appointed as CFO, still he will be counted at only one category of KMP whether as MD or CFO.

Is doing Cs worth it?

Employers expect you to possess knowledge well beyond the historic parameters of a regular CS. So you may have to pursue other areas like achieving an LLB. Not to discourage you from the course, but it is a hard road ahead, although the payback and success that you achieve is well worth it.

Who has the most power in a company?

Chief Executive OfficerA Chief Executive Officer or CEO is the highest-ranking officer in the company. In corporate governance and structure, a President of a company holds the title of Chief Operating Officer (COO).

What does a CFO do all day?

A Chief Financial Officer’s (CFO) daily responsibilities include such as building financial models, analyzing and preparing financial statements, and reconciling income and expenses.

Who is not a KMP?

As per section 203, a whole time MD of a company which is mandatorily required to have a whole time KMP shall hold office in its subsidiary only but as an exception to this , a company may appoint a person as its managing director, if he is the managing director of one, and of not more than one, other company provided …

Can CFO be appointed as company secretary?

Alagarswamy has been appointed as Company Secretary & Compliance Officer and Chief Financial Officer of the Company pursuant to Section 203 of the Companies Act, 2013 and Regulation 6(1) and other applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) …

What is the next position after CEO?

Often more hands-on than the CEO, the COO looks after day-to-day activities while providing feedback to the CEO. The COO is often referred to as a senior vice president.

Can MD and CFO be the same person?

The CFO may be appointed either by the board of directors or by the managing director unless such person is designated as a key managerial person under section 203. … The CFO need not be a director of the company.

Who can be a CFO of a company?

The Chief Financial Officer (CFO) is often the ultimate position for a finance career. You’re as high as you can go in a company, the only person above you operationally is the Chief Executive Officer, then there are the owners – entrepreneur, shareholders, chairman – who you have to report to and keep happy.

Who is more powerful CEO or MD?

CEO leads the management of the company while MD is lead by Chairman of the Board. CEO is focused on future-oriented goals whereas MD handles day to day operations of the company. … Both Chief Executive Officer vs Managing Director reports to the Chairman. On the other hand, in many cases, MD reports to CEO as well.

What is the highest salary of CS in India?

A. The highest salary package offered was Rs 7 LPA.

Is company secretary a KMP?

Will the company secretary be a KMP of the company? The definition of Key Managerial Personnel under section 2 (51) includes a company secretary. Thus, where a company appoints a company secretary, whether mandated by law or not, he will be treated as a KMP.