Producer Company Registration
At Just Rs 57999/- (All inclusive)
Completely online process
Work handled by professionals
Within 20-25 Days
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What Is a Producer Company
In India, the farmers and producers were facing various problems whether it was lack of resources, education or access to modern equipment’s and techniques, therefore to facilitate this, a legal platform is provided to them and concept of producer companies was introduced. A producer company is a hybrid between a private limited company and co-operative society. A producer company is registered under the Companies Act, 2013 and primarily deals with agriculture and post-harvest processing activities. Registration of a Producer Company is deemed to be a private company but need not limit its member to 200. The name of a producer company must end with the words “Producer Limited Company”
Unilex being the professionally managed firm provides Producer Company Registration within 15 working days*. Our professionals help in estimating the cost of Producer Company registration, document required for Producer Company and hassle free procedure for Producer Company registration.
Advantages of Producer Company Registration
The greatest benefit of Producer companies is limited liability. It is treated as a separate entity. If anything happens to the company, its members are not personally affected; members are only liable for unpaid shares.
As the agriculture income is exempted under the Income Tax Act, therefore Producer Companies can also avail various tax exemptions under that head, depending upon the kind of agriculture activity they carry out.
Continuity of Existence
Producer companies enjoy permanent succession because the company has its own legal entity. Shareholders and employees act “as agents of the company”
Loans to its members
The members of the Producer Company are primary producers, and thus, are in need of financial assistance from time to time through credit facility, loans and advances against securities.
As it is registered with the Ministry of Corporate Affairs (MCA)and is govern by the act, therefore it has more credibility as compared with other business like sole proprietorship or partnership
Economies of Scale
With a producer company, multiple farmers can work as a collective and lower costs, reduce risk and even get access to better credit facilities. This enables better planning and bargaining power with buyers.
- Copy of PAN Card
- Copy of Adhar Card/ Voter ID Card
- Electricity / Water Bill
- Landlord NOC (as per format given)
- Passport size photo of directors
- Copy of rent agreement
- Copy of owned property papers (if)
Requirements For Producer Company
- A Producer Company should have only equity share capital which constitutes a minimum paid-up capital of Rupees Five Lakhs.
- Minimum ten individuals or two producer institutions or any combination of ten individuals and producer institutions are required for forming a Producer Company.
- A Producer Company shall have Minimum five and maximum of fifteen directors
- There is no restriction on the maximum number of members of a Producer Company
- Share capital of a Producer Company shall consist of equity shares only.
- At least 5 and not more than 15 directors.
- A full time chief executive Officer should (CEO) be appointed by the board and
Procedure For Registration
Obtaining DSC & DIN(1-3 Working Day)
- Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Private Limited Company. DIN and DSC can be obtained for the proposed Directors within 5 to 7 days.
Document Review & Completion(4-6 Working Day)
- After obtaining the DSC and DIN of the proposed Directors, our team will get in touch for a unique name and along with that collect all the requisite documents in scan for the incorporation of the company through the SPICE i.e INC 32
Document Submission(3-4 Working Day)
- After the review of all the documents required, we will submit them to the MCA and once it gets approved by the ministry we will send the MOA & AOA via mail and DSC through courier
Frequently Asked Questions
What is Producer Company (PC) ?
The Producer Companies are incorporated with the Registrar of Company (ROC). The objective was to formulate a legislation that would enable incorporation legislation that would enable incorporation of cooperatives as companies and conversion of existing as well as incorporating new companies having the objective of functioning as a PC.
What are the main objects of a PC?
As per the Companies (Amendment) Act, 2002, Section No. 581B, the main objects of a PC shall be production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the members or import of goods or services for their benefit, processing the produce of members, manufacture, sale or supply of machinery, consumables, etc to members, providing education and other welfare activities for members, generation, transmission and distribution and distribution of power, revitalization of land and water resources, their use, conservation and communications relate able to primary produce, insurance of produce, and other allied or ancillary activities including financing thereof.
Who can be a member of a PC?
Any individual engaged in any activity connected with or relate able to any primary produce.
Is there any restriction in number of members i.e. can there be 50 or more members ?
There is no restriction in maximum number of members. Numbers of members of a PC can be 50 or more.
Is there any Income Tax benefit for investors in debentures of a PC?
There are certain Income Tax benefits in connection with Dividends and TDS benefits on annual Interest on investment in Debentures of a PC.
Who are the Regulatory Authorities?
The RoC under Ministry of Corporate Affairs is the ONLY Regulatory Authority.