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Know What is Producer Company ? and How it is registered?
A Producer Company is a business entity in India formed by farmers, agriculturalists, or producers. Governed under the Companies Act, 1956, it aims to enhance income and productivity by supporting member producers. It operates like a cooperative, ensuring benefits like processing, storage, and marketing of goods while fostering mutual assistance.
Producer Company is hybrid of Company and Co-operative Society. It combines the goodness of a co-operative enterprise and vibrancy and efficiency of a company and accommodates the unique elements of cooperative business with a regulatory framework similar to that of a company.
Learn the basics about Producer Company & its compliance
The process of registering a Producer Company is complicated and involves various compliances. Our experts at Legalpanther can simplify the whole registration process for you. Register your Producer Company online in 3 easy steps:
Step 2:
Provide necessary documents
Step 3:
Get your incorporation registered in 7-10 working days
See at the benefits of Producer Company registration in India:
Producer Company registration process is very simple with Legal Panther. The whole procedure is completely online and one need not visit our office physically to get the Company registration.
Choose a Name for the Company Select a unique name that reflects the non-profit objectives. Ensure the name complies with the naming guidelines, and it must include āFoundation,ā āAssociation,ā or āSocietyā (not āPrivate Limitedā).
Obtain Digital Signature Certificate Apply for a Digital Signature Certificate (DSC) for signing documents online. Obtain a Director Identification Number (DIN) for all directors of the company.
File Incorporation Documents with the ROC Prepare and file the Memorandum of Association (MOA) and Articles of Association (AOA) along with the application for registration with the Registrar of Companies (ROC). Submit proof of identity and address of directors, and the company's registered office address.
Obtain Necessary Licenses and Tax Registrations Upon approval, obtain the Certificate of Incorporation. Register for PAN, GST (if applicable), and any industry-specific licenses or permits.
Minimum 10 Individual Producers (Members/Shareholders) OR Minimum 2 Producer Institutions (Cooperative Societies, Farmer Groups, etc.) Minimum 5 Directors (Can be selected from members/shareholders) No Maximum Limit on Members Minimum Capital Requirement: ā¹5 Lakh (Authorized Capital) Registered Office Address (Physical office required for official communication)
Proposed Company Name (Must include "Producer Company Limited") Memorandum of Association (MOA) (Defines objectives, such as production, processing, marketing, etc.) Articles of Association (AOA) (Defines governance and management rules) Registered Office Proof (Utility Bill, Rent Agreement, NOC from Owner, etc.) Declaration by Directors in DIR-2 (Consent to Act as Directors)
GST Registration (If annual turnover exceeds ā¹20/40 lakh in India) FSSAI License (If involved in food processing, dairy, or agriculture products) APEDA Registration (For agricultural exports, if applicable) NABARD Subsidy & Benefits (Eligible for financial support from NABARD & other schemes) Import Export Code (IEC) (For international trade businesses)
Only Primary Producers or Producer Institutions can be members/shareholders. Cannot become a Public Limited or Private Limited Company. Profits can only be distributed as per the provisions of the Act (Retained Earnings & Member Benefits). Cannot be converted into any other type of company except another Producer Company.
Obtain DSC (Digital Signature Certificate) Apply for DIN (Director Identification Number). Name Reservation (RUN Application)File Incorporation Application (SPICe+ INC-32)Obtain Certificate of Incorporation (COI) Apply for PAN & TANOpen a Business Bank Account
Annual ROC Filing ā File AOC-4 (Financial Statements) & MGT-7 (Annual Return). Income Tax Return (ITR-6) ā Filed yearly by the company. Statutory Audit ā Mandatory every year, regardless of turnover. Board Meetings ā At least 4 board meetings per year.
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