Eligibility criteria for registering a producer company registration in india
To be eligible for registering a producer company in India, the following criteria must be met:
Minimum number of members: Each member of a producer company must be an individual and a main producer, such as a farmer, maker, weaver, or fisherman, and the firm must have a minimum of ten members.
Maximum number of members: A producer company can have a maximum of 100 members.
Primary producer membership: At least 10% of the members of a producer company must be primary producers and the rest of the members can be primary producer institutions, such as farmer producer organizations or co-operatives.
Area of operation: A producer company must operate within India and can have its activities spread over one or more states.
Objectives: A producer company's primary goals must be to carry out tasks for the benefit of its members, including purchasing, classifying, pooling, and selling produce, as well as to offer members support services like credit, extension, and insurance.
Capital structure: A producer company must have a minimum paid-up capital of Rs. 5 lakhs.
Management: A production company must have a Board of Directors, and every member must be individual business members, with a minimum of five and a maximum of fifteen members.
Forms to file for Producer company registration in india
The following forms are required to be filed for registering a producer company in India:
Form SPICe (Simplified Proforma for Incorporating Company Electronically): This form is used to apply for the incorporation of a company and obtain DIN, DSC, and PAN/TAN for the company.
Form INC-7 (Application for reservation of name): This form is used to apply for the reservation of the name of the proposed producer company.
Form INC-22 (Active Company Tagging Identities and Verification): This form is used to declare the registered office address of the producer company.
Form MGT-14 (Annual Return): This form is used to file the annual return of the producer company with the Registrar of Companies (ROC).
Form PAS-3 (Return of Allotment of Shares): This form is used to file the details of share allotment with the ROC.:
PSR Compliance Assistance
The process of registering a Producer company involves adhering to many requirements, preparing documents, and complying with pre-incorporation and post-incorporation compliances. Moreover, complying with specific MCA mandates is imperative to avoid incurring hefty penalties and late fees. This process can seem daunting and confusing without professional assistance. PSR Team provides expert service in the online registration process of one’s company on the MCA website.
During your journey to registering your business, our team of professionals will help you at every stage.