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Producer Company Registration ONLINE
Producer Company Registration in India at just Rs. 23,499/- (all inclusive)
About 60% of the population of India depends on agricultural activities to carry out their livelihood. Thus, it can be said that the economy of India is an Agricultural Centric Economy. However, the primary producers and farmers have faced a lot of struggle in India for a long period of time. To address the issues and challenges faced by the producers and farmers of the country, a committee was set up by the Government of India. After analysing the situation, in the year 2002, a new concept — Producer Company registration — was incorporated.
With the introduction of this new business entity especially designed for the primary producers and farmers to help them gain access to input, credit, production technology, market, etc., the Producer Company Registration in India has gained popularity.
The primary objective of a Farmer Producer Company registration is to assist in the formation of cooperative businesses as companies and to convert already existing cooperative businesses into companies as well.
A Producer Company is a legally authorized body of farmers/agriculturists with the aim to improve their standard of living, and to ensure a good status of their available support, their incomes, and their profitability.
A minimum of 10 individuals or 2 institutions are required for the incorporation of a Producer Company as per the guidelines issued under the Companies Act, 1956. A combination of both 10 individuals and 2 institutions having the same business objectives like production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce, or import of goods or services, can also form a company.
The Farmer Producer Company registration process is quite hectic and can take up to 40 days for incorporation. But, with Finca Work Legal Consultants, the incorporation of a producer company in India can be completed quickly and effectively — that too at the lowest price in the country. Get in touch with our experts and start the process now!
Let us now look at the advantages of Producer Company registration online, along with other necessary details like the Farmer Producer Company registration fees, documents required for the Producer Company registration process, and more.
Benefits of a Producer Company
ADVANTAGES OF PRODUCER COMPANY REGISTRATION IN INDIA
Non- Transferability of Shares
The transferability of shares is restricted i.e. a producer company cannot invite general public to endorse for shares, debentures or public deposits.
Number of Members
For a producer company incorporation, there is no limit on the number of members. The company can have ‘n’ number of members.
No Minimum Share Capital
Another benefit of a producer company is that, it has no requirement of minimum share capital as per the recent amendments provided.
Equal Voting Power
Equal Voting Power or rights are given to each individual, irrespective of the shares a person is holding.
Entitlement to Bonuses
In the same proportion as the shares are held by the members, they are entitled to get bonus shares as well. Hence, the members of a Producer Company are entitled to the bonuses.
Credit facility
Credit facility is available to any member for a period not exceeding six months (such facility must be in connection with the business of the Company).
Loans and advances
Loans are provided to the producer member against security, which is repayable within a period not exceeding seven years from the date of disbursement of such loans or advances.
NABARD Loan
To meet the needs of Producer Companies, NABARD provides support and financial assistance. NABARD set up a Rs. 50 crore PODF (Producer Organisation Development Fund) in the year 2011, out of its operating surplus.
Tax Benefit
The members are eligible to enjoy the Producer Company tax benefits and are exempted from the tax as per the Income Tax Act, 1961 under section 10(1) which exempts the agricultural income.
Requirements for Producer Company Registration
CHECKLIST FOR FARMER PRODUCER COMPANY INCORPORATION
Before starting the Farmer producer company registration process, following points must be kept in mind to ensure a smooth and efficient incorporation of producer company online:
a) A minimum of 10 members (producers or farmers) can join together for farmer producer company registration process. There is no upper limit on the number of individuals that can join a producer company as a member.
b) A minimum of 2 or more producer institutions can take part in producer company incorporation process online.
c) A combination of above two points are also valid.
d) For Producer Company Registration online, a minimum authorised capital of Rs. 5,00,000 is mandatory.
e) A minimum of 5 directors and a maximum of 15 directors are required for producer company registration process.
Note: A producer company registration can be converted into a Multi-State Co-Operative Society at a later stage but it can never be converted into a Public Limited Company.
f) Atleast four board meetings must be held each year in a producer company. It is important to note that the meetings must be held once every three months.
g) A full-time Chief Operating Officer (CEO) must be appointed by the board in a farmer producer company registration.
Documents Required
Below is the list of documents required for the registration of producer company:
From All Directors And Shareholders
- PAN Card or Passport or Voter ID Card
- Latest Bank Statement/Telephone or Mobile Bill
- Voter's ID/Passport/Driver's License
- Passport-sized photograph of all directors and shareholders
For Proposed Registered Office (Residential Or Commercial)
- Copy of any Utility bill
- Scan copy of Rent agreement with NOC from the owner
FAQs
Few doubts important to be resolved quickly
- 1 How many members are required to register a Producer Company?
- According to the law, a minimum of 10 members or 2 institutes or a combination of 10 members and 2 institutes are required for Producer Company registration online.
- 2 For Producer Company registration online, what is the minimum number of directors required?
- A Producer Company, as per clause (1) of section 581O of the Companies Act, 1956, must have at least five and not more than fifteen directors.
- 3 Under which law, a producer company is governed?
- Under the provisions of Sections 581A to 581ZL of Companies Act, 1956, read with Companies Act, 2013, the formation and regulation of Producer Company is governed.
- 4 Whether Producer Company is Private Company or Public Company?
- A Producer Company can be deemed as a Private Limited Company and not a Public Limited Company
- 5 Whether the limit of 200 members is applicable for the incorporation of a Producer Company?
- There is no such limit on the number of members in a farmer producer company online registration.
- 6 What is the mode of registration for a Producer Company?
- Producer Company registration process is 100% online. Ministry of Corporate Affairs (MCA) send the DIN and Certificate of Incorporation by e-mail.
- 7 How much time is needed to register a producer company in India?
- With Fincawork, the incorporation of a Producer Company in India only takes 15 days. We provide fastest company registration services in India.
- 8 Does Producer Company have a continuous existence?
- Yes, a Producer Company is a legal entity thus has a continuous existence.
- 9 Is auditing of books of a producer company needed?
- Yes, from the very 1st year, a producer company must have its books audited. In case the turnover crosses Rs. 5 crore, the company must employ a full-time company secretary to manage its affairs.
- 10 What is the Period of Directorship?
- The Minimum and Maximum period for directorship for a producer company is 1 year and 5 years respectively. However, a retired director shall be eligible for appointment.
- 11 What is the Minimum Capital required for the Registration of Producer Company?
- The minimum authorized capital required for the registration of a Producer Company is Rs. 5 Lakhs.
Check Company Name Availability
Our systems will check availability of your Company Name
How to register a producer company in India
We at Vakilgiri follow the following steps for producer company registration process:
Preparation of Digital Signature
Firstly, we apply for DSCs of all the Directors & members as it is required for signing e-forms while Producer Company registration process. Digital Signatures are required for signing all the documents while incorporation of Producer Company.
Filing Application for Director's DIN
After the successful allotment of DSCs of the directors and members, we will apply for the DIN. DIN is a unique number which is allotted by the MCA to each of the directors of the Producer Company.
Choosing Unique Name for your Producer Company
Meanwhile applying for your DSCs, our experts will help you in selecting Unique Name for your dream Farmer Producer Company Registration process online. This process completes in a single day.
Preparing Forms and Documents
After the approval of your Producer Company’s name, we at Finca Work prepare all the e-forms and other required documents necessary for the Farmer Producer Company incorporation process. Some documents need to be signed physically by you, so we share the required formats. You simply need to sign them and send them back to us to proceed further with the registration.
Filing e-forms at MCA
After the completion of all the formalities and documentation work that is required for the registration, we upload e-forms along with the attachments prepared in step-4 on the MCA portal for company approval and pay the producer company registration fee. This process takes 2-3 days which is subject to change as per MCA department schedule.
Allotment of COI, PAN & TAN
Once the approval for your farmer producer company registration online is done by the MCA, it will allot a COI, PAN, TAN and other important documents as a proof that your Producer Company registration process is complete. CONGRATULATIONS!! Now you can open up a Current Bank Account and can start performing your business activities.
Our Incredible Packages
INCLUDING PRODUCER COMPANY REGISTRATION FEES*
GOLD
₹ 23499/- (all inclusive
₹40000
- Registration within 15 days
- Authorised Capital upto 15 lacs*
- 5 DIN & 10 DSC
- Certificate of Incorporation
- MOA, AOA, PAN, TAN, ESIC
- 1 Year ISO Certification
- Udyam Registration
- GST Registration
- 200+ Document Formats
- Professional Website
- 1 year Domain & Hosting
- Basic On-Page SEO
- Google Analytics & Web mails
- Commencement Certificate
- Trademark Registration
- NGO Darpan Registration
- Auditor Appointment
- ITRs of All Directors & Company
- Audit & Annual Compliances
PLATINUM
₹ 33499/- (all inclusive)
₹56000
- Registration within 15 days
- Authorised Capital upto 15 lacs*
- 5 DIN & 10 DSC
- Certificate Of Incorporation
- MOA, AOA, PAN, TAN, ESIC
- 1 Year ISO Certification
- Udhyam Registration
- GST Registration
- 500+ Document Formats
- Professional Website
- Website Support for 1 year
- 1 year Domain & Hosting
- Basic On-page SEO
- Google Analytics & Web mails
- Commencement Certificate
- Trademark Registration
- NGO Darpan Registration
- Auditor Appointment
- ITRs of All Directors & Company
- Audit & Annual Compliances
GOLD
₹50499/- (all inclusive)
₹90000
- Registration within 10 days
- Authorised Capital upto 15 lacs*
- 5 DIN & 10 DSC
- Certificate Of Incorporation
- PAN, TAN, MOA, AOA, ESIC
- 1 Year ISO Certification
- Udhyam Registration
- GST Registration
- 1000+ Document Formats
- Professional Website
- Website Support for 1 year
- Basic On-page SEO
- Google Analytics & Web mails
- Trademark Registration
- NGO Darpan Registration
- Commencement Certificate
- Auditor Appointment
- ITRs of Directors and Company
- Audit & Annual Compliances
DIAMOND
Bronze Package
Pricing plan for startup company
149
- Collaboration with up to 10 users
- Collaboration with up to 10 users
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Best Online Company Registration in India
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We provide the fastest Online Company Registration Services in India. Our team knows the importance and thrill of getting your first company registration. Thus, delivers services with utmost seriousness.
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Once, you decide to get started with your company registration process with us, we assign you a personal dedicated assistant who ensures a smooth & efficient user experience and answers all your queries on time.
Lowest Price In India
“First step is always that toughest”; we have redefined this phrase and thus help you take your first step towards entrepreneurship with ease. You can rely on Vakilgiri- Best CA Consultants in India as we are committed to serve you at the lowest possible cost.
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We are very committed to serve you with the best of our capabilities. Reach out to us even at odd hours. We will gladly resolve your queries. That’s why we have a whopping “5-star rating” on Google. You can reach out to us via call, SMS, email, Whatsapp anytime, anyday
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Since, the incorporation is 100% online, we have developed a CRM through which you can upload and download the required e-forms and documents and can also track the process your online company incorporation. Our system is 100% transparent. Thus, we don’t have anything to hide.
