Producer Companies i.e., defined under section 581B of Companies Act, 2013 provide main aim to provide benefit to the group formed by the members ( i.e., farmers) involve in various activities related to agricultural produce, harvesting, marketing and selling etc. They also financial helps like loans and insurance and others services also. These companies main aim is to work together and supporting each other to make farming and everything profitable. Our comprehensive service ensures your company is set up efficiently, with all the essentials covered.
Submit to get Producer Company Registration
Liability of all members are limited
Acces to the various government grant and subsidies
Name Reservation of the Company i.e., Spice+ Part A
Submission of Company details i.e., Spice+ Part B
Preparation and submission of Incorporation forms (INC-33 MOA, INC 34 AOA, INC 35 Agile Pros, INC-9)
After all the process we will get the Certificate of Incorporation (COI) and other ancillary documents.
Post incorporation compliances.
Now Let’s discuss in details what include in every step and how we proceed with that
First, we have to check whether every director have DSC or not if yes then we have to collect the same if not then we have to make Digital Signature first, because every work is electronically so every director is requiring to sign every form electronically through DSC. Documents required for Individual DSC making is Aadhar card, PAN card, Bank statement, photograph of director. For DSC you can refer our DSC service tab for more information.
Secondly, we have to know whether the Director has existing DIN or not, if yes then we have to collect the required information of the director that in which company he has interest and how much he holds shares in the company.
Then after all that we are going to reserve the name of company by filing the form Spice+ Part A and it took 3 days for getting the name reserve and after that we have 21 days to incorporate a company.
Meanwhile, in between the 3 days of name approval we will make other necessary documents like DIR-2, NOC for registered office etc.
After the name approval we will file details in Spice+ Part B form which include details of shares, subscribers, directors, registered office, PAN TAN codes, etc and submit the form after signing of all the forms by every director and shareholders.
After submitting the form, we have to prepare INC 33 i.e., Memorandum of Association, INC 34 Article of Association, INC 9 details of Subscribers and Directors, INC 35 Agile PROS.
And then we have to submit all the forms and wait for the approval by the Registrar of Companies.
After getting we have to done post incorporation compliances likeADT-1, INC-22, INC-20A, GST registration etc.
Documents Deliverables are: -
Certificate of Incorporation (COI)
Memorandum of Association i.e., INC 33
Articles of Association i.e., INC 34
Agile PROS i.e., INC 35
Details of Subscribers and Directors i.e., INC 9
PAN Card of company will be shared over mail by MCA Department
ESI/PF credentials will be shared over mail by MCA Department
TAN Card of company will be shared over mail by MCA Department
Time Taken: - One week post submission of documents
Why Choose HireYourCA?
Why Choose HireYourCA?
There are several reasons why HireYourCA stands out as your go-to partner for business registrations and compliance:
Experienced and Qualified Team: Our CAs possess extensive knowledge and expertise.
Seamless Service: We handle the entire process, keeping you informed at every step.
Cost-Effective Solutions: Competitive pricing ensures value for your money.
Client-Centric Approach: We prioritize your needs and offer personalized guidance.
Technology-Driven Platform: Our user-friendly online platform enables easy tracking and access to documents.
Transparency and Trust: We maintain complete transparency and adhere to the highest ethical standards.
Eligibility
For forming a Producer Company in India there is a requirement of at least 10 producers or at least 2 producer institution or members
There is a requirement of at least 5 directors to form a Producer Company in India
There is requirement for minimum capital to incorporate a Producer Company is 5 lakhs.
Name of the company has suffix i.e., "Producer limited Company".
The company must have a registered office situated in India.
The members and directors should not be disqualified under any law and competent to do act on behalf of company.4
The directors and members should be of sound mind and major.
Documents Required for Producer Company Registration
Now let’s Discuss about the documents need for registering a Producer company in India.
First of all, documents required related to the director/ shareholders of company are
Educational qualification that they had completed till now or pursuing,
KYC Documents i.e., Aadhar Card, Pan Card, Photograph of all the Directors, Mail I’d & Mobile Number of all the directors, Bank statement of all the directors, DIN if having with any director.
Digital signatures certificate of all the directors and shareholder if they are different.
Declaration by the Director under form number DIR-2 about the consent of becoming director and enclosing the Directorship or holding of any interest in any company.
Now secondly, we need documents related to the company i.e.,
4 proposed names of the company going to incorporate. Why we are asking for 4 names because if any resubmission or issue arise alike that then we can use 2 other alternate names for the company incorporation.
Share capital of the company clearly stating the share of every shareholder in the said capital.
Now lastly, we need the documents related to the registered office of the company i.e.,
No objection certificate for the registered office from the owner of property stating clearly of having no issue for taking registration at that place.
Rent Agreement required if the property is not on the name of company going to incorporate.
Latest electricity bill or any other utility bill is required for the proof of address office of company but it can’t be older than 2 months.
Benefits Of Getting Producer Company Registration
Limited Liability: - Liability of the members of an Producers Company are limited to the amount of share capital.
Bargaining powers Increased: - They can negotiate with buyers to sell the produce in bulk and they can earn high profits,
Better access to markets: - These company will help the farmers to reach out in new markets and sell their produce at higher profits.
Governments grants and subsidies; - Producer Companies are eligible for various subsidies and grant which help them to enhance their performance.
Easier access to credits: - Producer company can easily access
FAQs
Minimum Paid up capital of Farmer Producer Company can be 5 Lakh and there is no upper limit on the maximum paid-up capital for a Producer Company , but individual members cannot hold more than 10% of the total shares.
Farmer Groups, Cooperatives, or an individual involved in agriculture can register a Farmer Producer Company. There must be minimum 5 director and maximum 15 directors and director should be an individual related to an agriculture, cooperative or a farmer.
Farmer Producer Company is Private Limited company and cannot be converted into Public Company but can be converted into Private Limited Company, Limited Liability Partnership (LLP) and Cooperative Society, depend upon the approval of the members.
No, non-farmer cannot be a member of Farmer Producer Company, as this company mainly relates with agriculture activities.
Profit in FPC is generally distributed among members based on the volume of produce sold through FPC or contribution to the business rather than shareholding.
The government supports FPCs through various schemes, like SFAC (Small Farmers’ Agri-Business Consortium and NABARD (National Agricultural Bank for Rural Development) provide funding and support to FPCs and Provide Grant to FPCs by Equity Grant Scheme and many more scheme.
