WHAT IS PRODUCER COMPANY REGISTRATION?

A producer company is a company registered to produce its active member’s food. The main objective of the company is production, exporting and post-harvest processing. Producer Company is an Indian company where 10 or more people found it together, and the objective is to improve their income and standard of living. The main objective of agricultural producer companies is to produce and then sell their goods. In India, First, a producer company has to have 10 or more members who are all producers. Second, it could be 2 or more producer institutions. And finally, it could be its combined membership. Nevertheless, the liability of the members of such companies is limited as long as they’re not in arrears with their shares.

PRODUCER COMPANY REGISTRATION PROCESS IN INDIA

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STEP 1 : SELECT COMPANY NAME

The first step is to finalize a brand name and company legal name. Consult with a professional so you can make sure the company name is available on the Ministry of Corporate Affairs (MCA) website.

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STEP 2 : DIGITAL SIGNATURE CERTIFICATE (DSC)

All proposed directors of the Producer Company must have a digital signature that will be used to file the online company registration application. One can also use the same DSC for signing documents.

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STEP 3: DIRECTOR IDENTIFICATION NUMBER (DIN)

Director Identification Number (DIN) is a unique Identification Number which is allotted to every person who intends to become a director in a company. Applications for the allotment of DIN can be made in the Spice+ form at the time of company's registration.

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STEP 4 : NAME APPROVAL

For name approval, an application is filed in the prescribed Form SPICE+ Part A with the Ministry of Corporate Affairs.

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STEP 5 : SUBMISSION OF FINAL INCORPORATION FORM (SPICE+) ALONG WITH MOA & AOA.

After name approval, one needs KYC and other prescribed documents of Directors & Shareholders. After submission of Spice+ form to MCA one will get Certificate of registration along with PAN & TAN.

As per the recent amendment, a new form has been introduced named as AGILE Submission of this form will provide registration of EPFO, ESIC & GST of the Company

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STEP 6 : BANK ACCOUNT OPENING

Open your bank account for your business and take the necessary steps to launch it.

Benefits

1. LOAN FACILITY TO MEMBERS
The Farmer Producer companies are legally eligible to disburse the credit to the founding members. The credit facility will help the members in need of funds for their agricultural activities. The interest rate on the credit facility is lower than the prevailing market rate. This will help the members to reduce their financial burden.
The company can deposit money as a fixed deposit or a recurring deposit with the prevailing bylaw.
The main objective of the farmer producer company is to provide better prices to farmers and to promote sustainable and efficient agricultural practices. A part of the profit generated is reinvested in the organization for its smooth functioning and the rest is distributed among the members. This way, everyone has a vested interest in the success of the company.
As per the current rules and regulations, Producer Companies are not liable to pay taxes on their agricultural income. This is a huge benefit for these entities, as it allows them to reinvest their profits back into their business. This exemption from taxes makes Producer Companies even more competitive in the marketplace.
One of the benefits of registering a producer company is that it's a separate legal entity. This means that the company will have its own rights and obligations, which are not dependent on those of the members. The identity of a producer company is distinct from that of its members.

Get a free consultation for Private Limited Company registration by scheduling an appointment with Finlawcity.

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WHY CHOOSE US

1. EXPERT PROFESSIONALS
FINLAWCITY, has a team of qualified and experienced Chartered Accountants and Company Secretaries, our team of Chartered Accountants and Company Secretaries has the experience to make your company registration process hassle-free.
FINLAWCITY provides you online company registration service that offers you free advice and reliable assistance to complete your company registration in India. We also offer an online payment service to make the process easy, simple and convenient.
We know that start-ups often have a limited budget and we work hard to keep costs low. We offer competitive pricing with no hidden fees and our service is streamlined from start to finish.
Our 100 % technology driven platform will save you time and money as we have a team of professionals who are well versed with their job.
We at FINLAWCITY ensure start-ups to focus on their project and leave all the legalities and documentations to us. From our technology driven platform and on time delivery start-ups prefer us to do Company registration for them.
Finlawcity offers a free consultation for Limited Liability Partnership registration in India. To schedule an appointment, call 09711717331 or fill out the online form.

Requirements

Services

Minimum Five directors

Services

10 or more individuals each of them being a producer

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2 or more producer institution

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Combination of 10 or more individuals and 2 or more producer institution

Documents Required

Pan Card

Pan Card

Pan Card of Shareholders & Directors. Foreign Directors must provide a valid Passport.

Photograph

Photograph

Latest Passport size photograph of Shareholders & Directors

Address Proof

Address Proof

Latest Telephone Bill / Electricity Bill / Bank Account Statement of Shareholders and Directors.

Identity Proof

Identity Proof

Aadhar Card / Voter ID / Passport / Driving License of Shareholders & Directors.

For Registered Office

For Registered Office

Rent agreement Utility bills-telephone, electricity, and municipal (Not older than 2 Months) NOC From Owner.

NOTE

In case of NRI or Foreign National, documents of director (s) must be notarized or apostilled

Frequently Asked Questions

What Is a Producer Company?
A producer company is a company registered to produce its active member’s food. The main objective of the company is production, exporting and post-harvest processing.
A digital signature certificate (DSC) is an encrypted signature that is saved on a pen drive. It makes the online registration process easy by signing ROC form or PDF.
A Director Identification Number (DIN) is a unique number assigned by the Ministry of Corporate Affairs to individuals on whose name the application is made. This allows an individual to be a director in any company
Anyone over the age of 18 can be a director, provided they have a DIN (Director Identification Number).
Any individual/organization can become the member of Producer Company. This includes foreigners/NRI.
You need a minimum of five directors to register a Producer Company.
Yes, an NRI or Foreign National can be a Director of a Producer Company after obtaining Director Identification Number. However, at least one Director on the Board of Directors must be an Indian citizen and resident.
All directors must provide identity and address proof, as well as a copy of the PAN card (for Indian nationals) and passport (for foreign nationals). No-objection certificate must be submitted by the Owner of the registered office premises.
It is safe to register your company online with a trusted company like FINLAWCITY. You will be able to complete the registration process quickly and easily, and you will be able to access your account securely. You will also be able to manage your account and view your company's information online.
No, With Compliance Calendar LLP, no compliance is complicated. Our team is here to manage each and every thing when it is about managing company compliances.
We are the market experts in registration and compliance of Companies. We can help you with end-to-end services in Private Limited Registration anywhere in India. Company Registration is a legal process and therefore it is prudent to assign the work to a professionally managed firm like CCL.
Not to worry at all! A Professional from our experienced team will resolve all your queries. Our Company Registration Experts will give you the best advice without any consultancy fees.