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Producer Company Registration
Farmer Producer Company Registration
- Suited for persons indulged in agriculture production
- Work handled by professionals
- Hassle free, process
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What is a Producer Company Registration?
A Producer Company Registration is a type of company that would be indulging in the activities such as production of certain form of consumables, grading, handling / managing. The Farmer Producer Company Registration also falls under the Provisions of Companies Act 2013. The latest rules are defined on the 2013 revision.
One of the objectives for the creation of a producer company should be the procurement, production, harvesting, pooling, marketing, selling of goods and services for the benefit of members. The producer firm supports the conversion of cooperatives into corporations and helps the development of cooperatives as corporations. The idea behind the Farmers Producer Company Registration is to encourage the improvement of financially disadvantaged farmers in India through cooperation and joint efforts.
Th producer company can also deal with the export of the goods that they have produced. The produced goods are a term to represent the farmed goods. A Producer company must only involve in the activities based for agriculture and post agricultural processing of the materials that were produced.
The lands available for farming in India are not laid out consistent across the nation and they are present as fragments across, hence by grouping the farmers and the farming lands under the Producer Company Registration would avail more good and improve the livelihood of the farmers and gets better price in the market for the produced goods as a result of the pooling approach it give out overall.
At Unilex Consultants we provide you a hassle free registration process which would be dealt by our professionals within a time frame of 15-20 days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.
Advantages of Producer Company Registration
- Better Value
A Nidhi company scores better in terms of credibility as it falls under the central government directly unlike other mutual profit organizations. - Tax Benefits
As the agriculture income is exempted under the Income Tax Registration Act, therefore Producer Companies can also avail various tax exemptions under that head, depending upon the kind of agriculture activity they carry out. - Loan for the Members
The members can avail the loan from the company on the basis of security produced in the time of the need, and the proper assistant would be provided for the producer company by law. - Easier Scaling
Scaling is done in a very manageable format an the profits are high as the resources are pooled by sharing the lands even though they are spread across. - Perpetual Succession
A Company is a separate legal entity. It exists even after the death of the member incorporated the company. - Business Credibility
Unlike normal Partnership firms and unregistered entities, company registration gets more recognition as they are regulated by law.
Documentation for Producer Company
Passport size Photograph
Copy of PAN Card
Copy of Electricity Bill
Sale Deed (if owned)
Copy of Aadhar Card
Address Proof
Copy of rent agreement (if rented)
NOC
Process involved in Producer Company Registration
- Step-1: Acquire a Digital Signature Certificate (DSC)
- Step-2: Director Identification Number (DIN)
- Step-3: Name Reservation for the Company (SPICe+ Part A)
- Step-4: Submission of Company Details (SPICe+ Part B)
- Step-5: Preparation and Submission of Incorporation Forms (SPICe+ MOA and AOA)
- Certificate of Incorporation
Requirements for Farmer Producer Company Registration
- - A Farmer Producer Company Registration should have only equity share capital which constitutes a minimum paid-up capital of Rupees Five Lakhs.
- - There is no restriction on the maximum number of members of a Producer Company
- - At least 5 and not more than 15 directors.
- - A full time chief executive Officer should (CEO) be appointed by the board.
- - Minimum ten individuals or two producer institutions or any combination of ten individuals and producer institutions are required for forming a Producer Company.
Activities permitted to be carried by the producer company :
- - Production, procurement, harvesting, pooling, grading, marketing, handling, selling and export of the primary produce of members.
- - Then the post harvesting would be the processing stage that would involve all the activities required for the proper preserval of the food material.
- - Sale of the equipments and pooling of resources for the betterment of the techniques involved.
- - Delivering supplies and assistant for the farmers.
- - The insurance can be provided for the primary produce.
Process involved in registering a Pvt. Company Registration
- DIN and DSC of all the Directors
- Minimum 2 Directors
- Minimum 2 shareholders
- There should be some amount as paid up share capital
- At-least one Indian resident Director out of two.
- Registered office address in India
Process involved in registering a Pvt. Company Registration
- DIN and DSC of all the Directors
- Minimum 2 Directors
- Minimum 2 shareholders
- There should be some amount as paid up share capital
- At-least one Indian resident Director out of two.
- Registered office address in India
A produce company is a type of company that would be indulging in the activities such as production of certain form of consumables, grading, handling / managing. The Producer Company registration also falls under the Provisions of Companies Act 2013. The latest rules are defined on the 2013 revision.
As per the Companies it 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.
There must be at least 10 members involved initially at the time of incorporation as it is a hybrid representation of registration. It has the properties of the private limited and as well as a society registration.
The producer company deals with the the production, pooling, management and post production functions revolving around the farming.
Provides a way to easily manage the produced goods. Would provide a way of better livelihood for the farmers involved in the direct production of the agricultural related products. Would be represented as a separate legal entity. The properties can be handled more precisely as they are grouped under one producer company despite being spread across without being consistent. The shares are only based out of equity basis alone.
Yes, after acquiring DIN/DPIN an NRI or Foreign national can become a designated partner in Producer Company. However, at least one designated partner in the Producer Company must be a Resident of India
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