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Producer Company
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Get your Producer Company with us, starts at just Rs. 19,999/-* Now to get started Pay Just Rs. 299/- , and the rest will be pay conveniently after processing begins.

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Producer Company Registration
Overview

A producer company can be defined as a legally recognized body of farmers/ agriculturists with the aim to improve the standard of their living and ensure a good status of their available support, incomes and profitability. Producer Company having their business objective Procurement,Production,Harvesting,Grading,Pooling,Handling,Marketing,Selling, or Export of the primary produce of the Members or import of goods or services for their benefit. A producer company is a hybrid between a private limited company and a cooperative society. It combines the goodness of a cooperative enterprise and the vibrancy and efficiency of a company. It accommodates the unique elements of cooperative business with a regulatory framework similar to that of a private limited company.

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Types of Producer Companies
Production Businesses

Production, Procurement manufacture of its members and others' primary producer is the producer companies' primary function.

Technical Service

Any business that offers technical assistance to the producers, Provides training and educational services, or conducting research and development can register as a Producer in India.

Marketing Businesses

A business involved in the marketing or promoting the primary produce or provision of education services to members and others can also constitute itself as a Producer company.

Finance Business

A business financing producing activities then be it production, or marketing development it can register itself as a producer company.

Infrastructure business

The business involved in providing infrastructure to the producers, whether in the form of electricity, water resources, irrigation techniques, or consultation regarding the same, may also constitute them self as a Producer company.

Conditions to form a Producer Company
  • A Producer Company can be formed by 10 or more Individuals as producers.
  • Two or more producer institutions or a combination of 10 or more producers and producer institutions.
  • A minimum capital of Rs. 500,000 is required to incorporate a Producer Company.
  • The share capital of a Producer Company shall consist of equity shares only.
  • The shares held by a Member in a Producer Company, shall be in proportion to the backup of that company.
  • There should be minimum 5 directors and maximum of 15 directors in a Producer Company.
  • A full time chief executive (CEO) should be appointed by the board.
  • There is no maximum limit of the members.
  • The Producer Company in India cannot be deemed as a public company.
  • There should be at-least four boards meetings every year and the meetings should not be held less than once every three months.
Benefit of Producer Companies
  • Limited Liability: Limited liability in a farmer Producer Company means that if the company goes through some financial distress because of business activity, the personal assets of members of the Producer Company will not be used to pay the debts of the Producer Company. The member’s liability will be limited only.
  • Better Management: Rather than a single farmer managing their entire business, producer companies' work is divided among the directors. The entity is governed by the Management Board, which has tenure of five years.
  • Separate Legal Entity: A producer company has a separate legal existence, which means that it is not affected by any of its members' death.
  • Loans & Investments: The Producer Company consists of individuals who are primary producers, and thus, are in need of financial support from time to time. NABARD bank offers loans to the farmers for a period not extending six months to meet the needs. In the event, if the members need finance for farming they can effortlessly take from the NABARD bank for a specific time.
  • Tax Benefits: As per the provisions of section 10(1) of the Income Tax Act, 1961, exempts the agricultural income, but it is vital to know that the exemption provided for the agricultural income under section 10(1)[1] sometimes varies on the basis of the agricultural activity carried out. Under the Income Tax Act, 1961, there is no provision for a specific tax benefit that provides special tax benefits or provides exemptions to a producer company by its definition; however, certain tax benefits and exemptions can be availed subject to the agricultural activity carried out by producer companies.
  • Transferability: Interest in Producer Company can easily be transferred by transferring its shares. The Board of Management of a Producer Company organization controls the exercises of the Producer Company. Its board of management is easily transferable as such. This can be affected simply through the filing of forms with Registrar of Company (ROC).
Document Checklist & Registration
Document Checklist
  • Photograph of all the Directors and Members
  • PAN Card of all the Directors and Members
  • ID Proof of all the Directors and Members (Driving License/Passport/Voter ID)
  • Electricity Bill or any other utility bill for the address proof of the Registered Office
  • Special requirement: Proof of farming in the form of 7/ 12 extracts of Agricultural Land or certificate from District Tahsildar (proof of farming will differ from state to state)
Requirements for a “Producer Company Incorporate”
  • A combination of any ten or more producers (individuals) can come together and form, but there is no upper limit on the maximum number of members or it can be formed by any two or more producer institutions.
  • Producer Companies may be incorporated by having a minimum capital of Rs. 500000.
  • Every such company should have a minimum of 5 directors and a maximum of 15 directors.
Producer Company Registration Packages
Standard
  • 19,999/-
  • 10 Digital Signature Certificates
  • 5 Director Identification Numbers
  • Name Approval Application
  • Stamp duty on INR 5 Lakh Authorized Capital
  • Producer Company Incorporation Certificate
  • 10 e-Copies of Share Certificate
  • Copy of e-MOA & e-AOA
  • e-PAN
  • e-TAN
  • ESIC Registration through SPICe Plus
  • PF Registration through SPICe Plus
  • Bank Account opening (feature) through SPICe Plus
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regular
  • 24,999/-
  • 10 Digital Signature Certificates
  • 5 Director Identification Numbers
  • Name Approval Application
  • Stamp duty on INR 5 Lakh Authorized Capital
  • Producer Company Incorporation Certificate
  • 10 e-Copies of Share Certificate
  • Copy of e-MOA & e-AOA
  • e-PAN
  • e-TAN
  • ESIC Registration through SPICe Plus
  • PF Registration through SPICe Plus
  • Bank Account opening (feature) through SPICe Plus
  • GST Registration
  • INC-20A Filing
  • Appointment of 1st Auditor
  • SSI/MSME Registration
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advance
  • 55,999/-
  • 10 Digital Signature Certificates
  • 5 Director Identification Numbers
  • Name Approval Application
  • Stamp duty on INR 5 Lakh Authorized Capital
  • Producer Company Incorporation Certificate
  • 10 e-Copies of Share Certificate
  • Copy of e-MOA & e-AOA
  • e-PAN
  • e-TAN
  • ESIC Registration through SPICe Plus
  • PF Registration through SPICe Plus
  • Bank Account opening (feature) through SPICe Plus
  • GST Registration
  • INC-20A Filing
  • Appointment of 1st Auditor
  • SSI/MSME Registration
  • Trademark (1 application 1 class) (start ups, proprietorship & small business)
  • LOGO Design
  • 1st Income Tax filing upto turnover of Rs. 50 Lakhs
  • 12 Month GST Return Filing
  • 12 Month TDS Filing upto 400 entries
  • 1st Annual Filing upto turnover of Rs. 50 Lakhs
  • 2 DIR-3 KYC for 1st Year
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Process to Incorporate Producer Company in India
Process to Incorporate Producer Company in India

compliances for HUF in India

GST Registration & Return

GST Registration is needed when the turnover is more than INR 40 lakhs or INR 20 lakhs in Special category states or if the business supplies goods intra-state or Provides goods and services online.

Once a HUF gets registered under GST, it becomes necessary to file GST returns. GST returns can be filed monthly, quarterly or yearly depending upon the types of GST returns form you are filing.


Accounting

Every HUF shall maintain proper books of accounts which shall represent an accurate and fair view of the state of affairs of the company. Accounting is necessary for the statutory audit, Annual filing and IT return filing which is mandatory once you start your Company.





Income Tax Audit & Return Filing

Every HUF requires to get the tax audits under section 44AB done. The tax audit limit under section 44AB is INR 1 Crores. (5 crores where at least 95 percent turnover is made on digital transactions.)

HUF must file income tax returns




Import Export Code Registration

All the LLP which are engaged in Import and Export of goods require to register the Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.




Trademark Registration

For a LLPs, Trademarks are necessary not mandatory though. The protection of the LLP’s name is limited to the extent that another LLP will not be registered with the same or a closely-resembling name. If you hold a unique brand name it is always advised to get a trademark registered as it is necessary to get protection under different classes of Trademark.



TDS Filing

Quarterly TDS returns must be filed by one person companies that have TAN and are required to deduct tax at source as per TDS rules.







 
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