Producer Company
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Producer Company

Producer  Company Registration

 

Producer Company is the most popular type of corporate legal structure in India. Producer company registration in India is governed by the Ministry of Corporate Affairs, the Companies Act, 2013 and the Companies Incorporation Rules, 2014. To register a Producer company, a minimum of ten shareholders and five directors are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be a shareholder. Further, foreign nationals, foreign corporate entities or NRIs are allowed to be Directors and/or Shareholders of a Company with Foreign Direct Investment, making it the preferred choice of entity for foreign promoters.

A Producer Company shall have the objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit. Produce are things that have been produced or grown, especially by farming. Therefore, a Producer Company deals primarily with agriculture and post harvest processing activities.

Company Registration is now easy when done by FileFunda, for the first time register your startup company sitting at home. Our dedicated expert professionals will help you to register your company across India. We will extend our support in documentation, preparation, filing and subsequent Follow-up with ROC.

Unique features of a Producer company like limited liability protection to shareholders, ability to raise equity funds, separate legal entity status and perpetual succession makes it the most recommended type of business entity for most of the small and medium sized businesses.

FileFunda is the fastest growing cloud based consultant providing services relating to company registration in India. FileFunda can help you to register a Private Limited Company, One Person Company (OPC), Nidhi Company, Section 8 Company (NGO), Producer Company, NBFC and Limited Liability Partnership (LLP). The average time taken to complete company formation is about 10 – 15 working days, subject to government processing time and client document submission. Get a free consultation for Producer company registration and business startup by scheduling an appointment with an expert from FileFunda.

 

Documents required for

Scanned copy of the following documents is required to incorporate a Producer company.

  1. Colour Photographs of all the Promoters
  2. PAN Card of all the Promoter
  3. Identity Proof (Voter ID / Driving License/ Passport)
  4. Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill)
  5. Proof of Registered Office ( Land Document / Notarised Rent Agreement or Lease Agreement along with latest money receipt)
  6. Utility Bill as proof must be Latest (Electricity Bill, Gas Bill or Water Bill or Property Tax Bill)
  7. NOC from the owner of the premises whose name is mentioned in Land Documents and Utility bill.
  8. Producer Certificate from Competent Authority

** Utility bills shall not be older than 2 months.

*** The registered Office address need not to be a commercial space; it can be your residence too.

 Procedure for Incorporating a Producer Company

How to Choose Company Name?

 

The name must be unique and acceptable, as defined by the Companies Act, 2013 or Limited Liability Partnership Act, 2008. The name cannot be the same or similar to an existing company or Limited Liability Partnership (LLP) or trademark in the same field or class.

Check Company name on ministry of Corporate Affairs database:

https://www.mca.gov.in/mcafoportal/showCheckCompanyName.do

In the Company or LLP Name, enter the proposed company or LLP Name and click search.  The list will show the list of Company and LLPs in existence with similar name. If the search returns “No records found”, then there are no similar companies or LLPs with similar name.

Check Trademarks on ipindia database:

https://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx

Search proposed name in the respective classes. To know more about trademark classes contact us.

 

After Incorporation what you get:

 

DSC for 10 Share Holders

DIN for 10 Directors / Share Holders

Company PAN & TAN (Digitally signed Soft Copy)

MOA and AOA

Company Incorporation Certificate

Supporting Document for opening Bank Account

Share Certificate

GST Registration Certificate*

 

* If opted for GST Registration then only GST Registration Certificate will be given.

 

FAQ Series on Producer Company Registration

 

#1 Can i Register a Producer Company on my Home Address?

Yes, you can register your company at your residential address. There is no issue, you need only the utility bill copy of the same.

#2 How many Director required for Producer Company Registration ?

5 Directors required for Limited Company Registration and additionally 10 Share Holders is also required.

#3 How many days takes to register a Limited company?

Its take upto 4 to 10 working days on average to register a Producer Company in India.

 

#4 How much cost for the Producer Company?

It’s cost nearby 30000/- INR except in some state like Punjab, Kerala and MP State due to Stamp Duty.

 

#5 What is meant by the authorized capital in case of  Producer Company  i.e is 10 lakh rupees ?

It’s a just a maximum share value which you can issue in your company so it’s not mean that you have to invest the 10 lakh rupees.

#6 GST Registration is required for Producer Company registration online ?

GST Registration is optional till the 20 lakh rupees turnover and for north east state 10 lakh rupees turnover. it’s a completely separate registration apart from Producer  registration.

 

#7 Registration with the Startup India is Possible?

Yes, with the Producer  registration under startup india is possible. simply register your company and register with the startup india portal.

 

#8 Can i run multiple business under one Producer Company?

Yes you can run the multiple business under producer company, but it should be related to farming, agriculture etc. For ex if you deal into the trading of the products and services both then you can mention in your MOA during the company registration.

 

#9 What is the DSC ( Digital Signature Certificate ) for Online Company Registration ?

In the Producer all the eForms has to be filed with the DSC.

 

#10 How I register my company name or logo in India ?

Basically, with the Producer registration, you company name has been secured. but if we talk about the logo registration then there is separate trademark registration

 

#11 What is the Minimum requirements to become director in a Limited company ?

Any Indian individual over 18+ years age

 

#12 Validity of the Producer Company Registration?

It’s a life time validity of the Producer Company  registration certificate. but there are some situation where Producer  name can be terminated from the ROC –

– if the company are not able to start the business within 1 year of the incorporation.

– if the company are not filings regular Annual Returns.

 

#13 if i am working in any private company as Job so can I register as director ?

Yes, you can become director of the company if you are not bounded with any employment contract for the same. for the more details must check your employment agreement.

 

#14 Do I need to present or visit any government office to get done my Producer Company ?

No, you don’t need to be present any Government office, you have to just provide us the documents as scanned copy via email or whatsapp and we will do the rest for you.

#15 What are the Mandatory Compliance or Annual Compliance for Producer Company ?

if we talk about the annual maintenance or compliance then its include following things ;

#1 Appointment of the Auditor with the statutory audit of the accounts (ADT-1).

#2 Commencement of Business (Form INC 20A)

#2 Filings of the AGM, Annual Return and financial statement

#3 Filings of the Income Tax Return for the same.

 

#16 Producer Company  is the best for NRI’s or Foreign Nationals?

Yes, because its not required any prior approval from the reserve bank of India. so they can easily setup through this legal entity.

 

#17 What is limited liability Protection in the Producer Company.

Limited liability protection is likely to responsible only to limited amount for the debt in limited company. mean your personal assets are separate from the company liabilities.

 

#18 Apart from Producer Company Registration what i needed to start my business?

There is no other mandatory registration after the opening a current bank account. the optional basis you can apply for the MSME Registration or Trademark Registration or FSSAI License or Patent Registration etc.