As a fairly new NCO, am I supposed to give my soldiers initial and monthly counsellings (PSG is asking for monthly)?

Forgot to ask are you getting promotion to SGT/CPL?

Yes, if you have soldiers under your leadership. I'd Start right off the bat and counsel them. You're an NCO, and now you must change your mentality from peer to leader. What I did was talk to your platoon Sgt. Get a feel for how counseling should go. Don't go head strung into it. Just because you have stripes now don't mean you're invisible. But as an NCO, this is your bread and butter. Let your soldiers know what to expect from you and your expectations of them. This is also a test from your leadership to see what kind of NCO you'll be. Don't get lazy, once you do your initial, prepare yourself each month to knock those out. And don't do no copy-paste counseling. Take the time to get to know your soldiers and develop communication and a good understanding.