Producer Company Registration

A producer company is formally recognized as a legal entity composed of farmers or agriculturists with the purpose of enhancing their standard of living and ensuring the well-being of their support, earnings, and profitability. Registered under the Companies Act, a producer company in India can be formed by a minimum of 10 individuals or 2 institutions, or a combination of both, with their business activities focusing on procurement, production, harvesting, grading, pooling, handling, marketing, selling, or exporting primary producers' goods or services for their benefit.

The primary objectives of a producer company include simplifying cooperative businesses' formation as corporations and facilitating the transformation of existing cooperative businesses into corporations.

Documents Required for Producer Company Registration

• PAN Card/Passport/Election ID Card of each director and shareholder
• Latest bank statement
• Voter's ID/Driver's License/Passport of each director and shareholder
• Passport-sized photographs of each director and shareholder
• Any utility bill copy as a residential proof
  (For rented property: scanned copy of the rent agreement along with NOC from the landlord; for owned property: a copy of property papers)

Registration Process with ETaxwala

ETaxwala, a professional tech-based online platform, offers legal services to simplify various registration processes, implementation, tax concerns, and additional legal compliance for businesses in India.

• Step 1: Obtain DSC & DIN
  ETaxwala initiates the process by applying for Digital Signature Certificate (DSC) and Director Identification Number (DIN), typically completing this step within 2-3 working days.
• Step 2: Name Approval
  ETaxwala proceeds to apply for company name approval, with an expected duration of approximately 2-3 days.
• Step 3: MoA and AoA Submission
  The platform takes responsibility for preparing the Memorandum of Association (MoA) and Articles of Association (AoA) within an estimated timeframe of 5-7 days.
• Step 4: Certificate of Incorporation, PAN & TAN
  ETaxwala then files for obtaining the Certificate of Incorporation (CoI), along with PAN & TAN, anticipating completion within about 10-15 days.
• Step 5: Congratulations!
  Upon successful company incorporation, your work is complete. You can conveniently download your Incorporation certificate and Incorporation kit from your dashboard.

FAQs:

1. Qualification for Director of a Producer Company:


Ans: An individual qualified to be a director of this company must be any natural person above the age of 18 engaged in farming activities.

2. Rules for Name Selection of a Producer Company:


Ans: The first part of the company name must be a unique word or name, and the second part must describe the type of business activity. The name must end with "Producer Company Limited."

3. What is a DIN?


Ans: A Director Identification Number (DIN) is a unique identifier for a company director. When appointed, the DIN must be mentioned in relevant documentation.

4. What is DSC?


Ans: A Digital Signature Certificate (DSC) is an electronic signature in encrypted form. It is used for signing e-forms during the filing of documents for company registration.

5. Audit Requirement for Producer Company:


Ans: Yes, the books of the company must be audited annually. If the annual turnover exceeds Rs. 5 crores, a full-time Company Secretary must be employed to manage daily affairs.

6. Commercial Space Requirement:


Ans: No, having a commercial or industrial space is not mandatory. A residential address is sufficient.

7. Persons Suited to Form a Producer Company:


Ans: Individuals engaged in primary agriculture activities or activities related to produce will benefit from forming a Producer Company.