Register Your Producer Company in India
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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:
Basic Plans
₹
14,999
- 2 DSC
- 2 DIN
- LLP Name approval
- Stamp Duty
- Incorporation Certificate
- PAN & TAN
- GST Registration
- PT Registration
- ESI Registration
STANDARD
₹
18,999
- 2 DSC
- 2 DIN
- Name approval
- Stamp Duty
- Incorporation Certificate
- PAN & TAN
- GST Registration
- PT Registration
- ESI Registration
- Commencement of Business Certificate
- Bank Current Account
- Hard copy of Share Certificate
PREMIUM
₹
29,999
- 2 DSC
- 2 DIN
- Name approval
- Stamp Duty
- Incorporation Certificate
- PAN & TAN
- GST Registration
- PT Registration
- ESI Registration
- Commencement of Business Certificate
- Bank Current Account
- Hard copy of Share Certificate
- Annual Compliance
- DIN KYC
- Auditor Appointment
- ROC Filings
- Income Tax Filings
- Labour Compliance
Condition: Fees will be subject to change based on turnover and Income tax requirements
Frequently Asked Questions
Your Queries, Our Answers
In India, a producer company must have at least ten members to be legally formed.
All proposed Producer Company Directors are required to provide identification and proof of residence. Every Indian citizen needs a PAN card. Additionally, the landlord of the registered office premises must submit their identity and address proof and a No Objection Certificate for the registered office to be located on the premises.
In just 20-30 days, BizSetupGlobal can form a Producer Company for you. The time it takes to register a business will be determined by how quickly the client provides the necessary paperwork and how quickly the government approves. You can speed up the registration process by creating a unique name for your Company and gathering all the required paperwork before you begin the process.
A corporation will remain functional and exist as long as its annual compliance requirements are met. If the annual compliances are not met, the CompanyCompany will be classified as a Dormant Company and may be removed from the register. A struck-off company has up to 20 years to reorganise.
When filing documents online, a Digital Signature verifies the sender's or signee's identity. Some of the application documents must be signed by the Directors using their Digital Signature, as required by the Ministry of Corporate Affairs (MCA). Therefore, all proposed Producer Company Directors must use a digital signature.
A Digital Signature is a method of authenticating the identity of the sender or signee of an electronic document. The Ministry of Corporate Affairs (MCA) now requires digital signatures on some application documents from company directors. Therefore, a digital signature is required of all proposed Producer Company Directors.
The Director must be a natural person who can legally enter the United States and be over 18. The Director's primary responsibility is to farm.
The Company must provide the address of its registered office in India. Locations suitable for receiving MCA correspondence include commercial, agricultural, and residential properties.