Registration For Producer Company
Producer Company works as a legal commercial unit that can access the market available for raw materials grown by producers, particularly farmers. This type of business is formed with collaboration of people with similar objective who come together aiming to get adequate profit. If this is what you wish to start, you’ve our guaranteed and affordable Producer Company Registration Package. We do this job quickly giving you assured result. Go through its details and know how it works THE BEST.
Producer Company Registration in India – An Overview
When your business objective is laid to make a profit out of growing or producing materials of commercial value, basically through farming, choose to register as Producer Company to get all its legal provisions available under Companies Act, 2013. Once your Producer Company informed, your business structure should involve:
- Group of farmers/agriculturists, including 10 or more producers (here, producer means, the person who produces or grows the output especially by farming), 2 or more producer institutions make a Producer Company. Alternately, a combination of 10 or more producers and producer institutions can form such a company.
- Note:Total number of members should not be more than 50 with minimum of 5 directors and minimum paid-up certified capital of INR 5 lakh.
- Same regulation as followed in a Private Limited Company and not a Public Company.
Objectives to promote and gain from farming activities including
- Basic farming activities, such as Production, Harvesting, Procurement, Pooling, Handling, Marketing, Exporting the primary production of members, Importing goods/services for commercial benefit.
- Processing farmed items, such as preserving, drying, brewing, venting, canning, etc.
- Manufacturing farming tools to sell and distribute in members for the sake of improving productivity.
- Providing advanced equipment, education, consultation, R&D to increase productivity and improve output quality through mutual cooperation between members.
Benefits of Producer Company
- A Producer Company is a separate legal entity having limited liability within the share amount held by the authority members.
- The company gets the provisions of a Private Limited Company that includes transparency in the transfer of shares and ownership, guarantee of stability, scope of expansion, etc.
- Such company is formed with the aim to improve the potentiality of its producer members incorporating provisions of financing of procurement, processing, marketing and any other activities that supports the producer members to be accomplished to compete in the market.
- A Producer Company promotes the principles of mutuality and mutual assistance amongst the members.
- Such company gets the facility of growing as a large multi-state cooperative societies and institutions allowing it to voluntarily transform into a new form of Producer Company.
- Members of such company receive value for the products taken and supplied as per company rules, provisions of bonus shares and patronage bonus that means, payment of excess income to members in the proportion to their respective patronage.
Documentation for Producer Company
- PAN Details of directors. Identity proof (Passport) of the Director, in case, a Foreign National/NRI
- Passport size photograph of directors
- Copy of voter ID Card/Aadhaar Cards of the directors
- Address proof of directors
- Address proof of the business space. For rented business space, rental agreement of the same
Note: For a Producer Company, they should have an address of its registered office.
- Landlord’s NOC, where the business space is located
- If you own the business space, property papers of the same
- Electricity/Water Bills of business place
Our Package is Offering You:
- DIN for two Directors
- Digital Signature for two Directors
- Memorandum of Association/Article of Association (MOA/AOA)
- Name Search & Approval
- Issue of Incorporation certificate (CIN)
- Company PAN
- Company TAN
Procedure to Register a Producer Company
STEP-1) Ensure the minimum requirement of the company, such as, number of directors, share capitals, etc. and provide director’s basic details, such as, Full Name, Email and Phone number.
STEP-2) Apply for DSC (Digital Signature) & DIN (Director’s Identification Number).
We’ll work for you to get these documents registered.
STEP-3) Name Approval Application and its verification
Name of Producer Company must include the words ‘Producer Company Limited’.
We’ll associate with you to finalise this document and get it registered successfully.
STEP-4) Submission Of MOA (Memorandum Of Association) & AOA (Article Of Association)
We’ll be working based on the documents you provide to complete this submission.
STEP-5) Certificate Of Incorporation
Registrar of Companies will issue your Certificate of Incorporation after all the above documents are successfully registered from our side and the processing fee for Producer Company Registration is deposited as provided from your side.
Your Producer Company Registration is complete now.....You can apply for PAN, TAN and Bank Account in the name of your Producer Company.
FAQs of producer company
A producer company can be registered by the following combinations of individuals under section clause (1) section of (581C) of the companies act 1956. A hybrid of ten individuals and producer institutions. Combination of two or more individuals each one being a producer. Two or more producer institutions.
A Farmer Producer Company is a hybrid between private limited companies and cooperative societies. Farmers are members of a farmer producer company. An FPC (Farmer Producer Company) is registered under the companies act of 2013.
Yes. Producer companies are private limited companies yet it is allowed to have more than 50 members in a producer company. A producer company can assign a minimum of 10 or more than 10 individuals at a time.
A group of 10 or more producers can form a farmer producer company by getting together. There is no upper limit fixed of members in a farmer producer company.
Name of a producer company must end with a “producer company” name. Ten or more individuals are required to form a producer company. The maximum number of members can be more than 50 and the directors shall be five in a producer company. The minimum capital to incorporate a producer company needs to be at least Rs. 500,000.
Following are the necessary required documents for a producer company. Details of PAN card, Identity proof if the individual is NRI. Passport-sized photographs. Address proof of directors. Copy of voter ID. Electricity/water bills of business place. Address proof of business or rental proof if the business is rented. NOC of the landlord, where the business is located.
A farmer producer company can be registered under the act of Indian company of 2013 or cooperatives societies acts.
There can be at least 5 directors or a maximum of 15 directors in a producer company.
A producer company provides the benefits of various tax exemption benefits and a separate legal entity to the company. Moreover, It also provides a bonus, ease loans at low-interest rates, negotiation with enterprises, social impacts, and economic aggregation.
There are more than four hundred producer companies in India.
Yes. A producer company can accept the deposits but in the form of fixed deposits or recurring deposits. A producer company also distributes the loans to its members at a reasonable interest rate.
Our Customers Admire What We Do
I have been dealing with Myitronline and Gopal Varshney for over a decade now. The firm is highly professional, prompt, efficient and courteous. Its been a pleasure dealing with Gopal and I would highly recommend his services. Keep up the great work !!See More Testimonials