Register Your Producer Company in India
While we call you, get some insights into what you are getting into.
At BizSetupGlobal, we provide comprehensive accounting and compliance services designed to empower OPC firms like yours to thrive and succeed.
Must Know Facts about Producer Company
- A Producer is someone who works in a field that is directly related to primary production. Therefore, the following are all included under the definition of "Producer Company."
- Primary producers of the members or imports of goods or services, including production, harvesting, procurement, grading, pooling, handling, marketing, selling, and exporting.
What does Producer Company do?
Production is the core business of the producer company. Any of the following may be conducted either directly or indirectly by it on behalf of its members.
- Members process their harvest by means such as salting, dehydrating, distilling, brewing, vinifying, canning, and packaging.
- Production, distribution, or retailing of goods primarily for internal use by its members.
- Encourage its members and the general public to learn more about mutual aid.
- Provide technical assistance, consulting services, training, research and development, and any other services necessary to further the interests of the organisation’s members.
- Promotional actions designed to benefit its participants.
- Relating to primary products are generating, transmitting, and dispersing power; revitalising land and water resources through conservation and communication; and so on.
- Protection for farmers and their main crop.
- Facilitating methods of mutual aid and support promotion.
- Board-decided welfare measures or facilities for member use.
- In addition to, or place of, any of the foregoing activities, any other activity that advances the principles of mutual assistance among the members.
- Credit facilities or other financial services to its members, as well as financing of procurement, processing, marketing, and other activities.
How to Set Up a Producer Company in India?
Producer Companies and Private Limited Companies have very similar registration processes.
- Any ten or more individuals being a producer or two or more producer organisation, or a combination of the individuals and a producer institute can apply and incorporate as an Indian Producer Company.
- The first order of business is to apply for and receive DSC and DIN for the proposed initial Directors of the Producer Company.
- After you have your DSC and DIN, you can apply to the Registrar of Companies (ROC) to reserve your company name.
- Submit an application to incorporate the Producer company in the prescribed format after obtaining name approval from the ROC.
- If the registrar approves the Producer company’s application for incorporation, a Certificate of Incorporation will be issued.
- The producer company is structured and operates much like a Private Limited Company. However, the number of members is not capped compared to Private Limited Companies.
- Including the words “Producer Limited Company” at the end of the Producer Company’s name shall not cause it to be treated as a public limited company.
Documents Required For Producer Company
PAN Card
- PAN Card of shareholders and Directors.
Photograph
- Latest Passport size photograph of Shareholders and Directors.
Identity Proof
- Aadhar card and Voter ID/ Passport/ Driving License of Shareholders and Directors.
Director’s Address Proof
- Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors.
Business Address Proof
- Latest Electricity Bill/ Telephone Bill of the registered office address.
Online Registration Process
Step 1
Select the package that suits you.
a. list of services purchased
b. documents to be submitted or next action.
Step 2
Make a payment, and you will receive your personalised dashboard login and password.
Step 3
Once documentation is complete, you will be informed about the next steps through email and sms, and you can also check the current status of your request in your personalised dashboard.
Step 4
During the process, if you have any queries, you can raise the query through the Helpdesk system in your dashboard, and we will be happy to help we can have a call also if required.
Step 5
Once you submit the required documents, our Compliance Manager will review the documents and contact you in case of any discrepancies.
Step 6
At each step, our team will share all the required information needed by you and ensure that you have a smooth experience with us.
Key Registration Services: Tailored to Your Needs
Each Pvt Ltd differs in terms of the functions and mode of operations below registrations will be applicable on a need basis.
MSME Registration
MSME or Udyog Aadhaar registration is to be obtained in the business's name to establish that Producer Company is registered with the Ministry of Micro, Small and Medium Enterprises.
Import Export Code
Import Export Code or IE code is obtained from the DGFT in case the Producer Company does export /import from India.
TAN Registration
TAN registration must be obtained for Producer Company from the income tax department if the Producer Company is required to deduct any TDS while making any payments as per Income Tax Act 1961.
FSSAI Registration
In case Producer Company is involved in the selling of food products or handling of food products, FSSAI registration must be obtained from the Food Safety and Standard Authority of India in the name of the Producer Company.
Current Account
A current account can be opened for Producer Company in any bank in India. We offer exclusive partnerships through which zero-balance current accounts can be opened.
Shop & Establishment
We will register for Shop & Establishment license if needed as per the criteria.
GST Registration
GST registration must be obtained if Producer Company sells goods or services that cross the GST turnover threshold limit for registration. In most states, GST registration is required for service providers having annual revenue of more than Rs 20 lakhs and in the case of traders-annual revenue of more than Rs. 40 lakhs.
Applicable Taxes and Annual Compliance
Statutory Auditor Appointment
Within 30 days of incorporation.
Annual Return
Companies registered in India must file MCA annual returns each year in forms AOC-4 and MGT-7/MGT-7A by 31st October and 3Oth November respectively.
Commencement of Business
The paid up capital mentioned in the MOA [Memorandum of Association] must be deposited in companies bank account, and a commencement certificate must be obtained from MCA within 180 days of Incorporation.
DIN KYC
The DIN KYC procedure must be completed each year by the company's directors by 30th September.
Income Tax Filing
Companies registered in India must file income tax returns each year in Form ITR-6 by 31st October.
GST Filing
GST must be filed if registration taken.
Financial Statement Preparation
Preparation of Financial Statements in accordance with schedule III of companies Act 2013 read with Companies (Accounting Standards) Rules, 2006.
Entire process will take 7 to 10 days (Approx)
Pay as You Grow
Pay as You Grow: Flexible Payment Options
We offer flexible packages to cater to your specific requirements:
Condition: Fees will be subject to change based on turnover and Income tax requirements
Frequently Asked Questions