{"id":30986,"date":"2021-05-24T14:11:42","date_gmt":"2021-05-24T08:41:42","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=30986"},"modified":"2021-05-24T14:11:44","modified_gmt":"2021-05-24T08:41:44","slug":"incorporation-of-a-producer-company-through-spice","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/incorporation-of-a-producer-company-through-spice\/","title":{"rendered":"Incorporation of a Producer Company through SPICe+: A Complete Guide"},"content":{"rendered":"\n<p class=\"has-drop-cap\">In this article, we shall briefly explain the process of Incorporation of a Producer Company via SPICe+.The Indian economy is agricultural-oriented. Around sixty per cent of the populace in India funds their need through agricultural activities. But, the farmers and primary producers had gone through a lot of hardship in India.\u00a0<\/p>\n\n\n\n<p>To address these critical issues, the Indian\nGovernment established an expert committee led by Y.K. Alagh (an economist) to\nanalyze the situation. Consequently, in the year 2002, the committee came up\nwith the concept of Producer companies.&nbsp;<\/p>\n\n\n\n<p>&nbsp;Since then, they have assisted farmers\n&amp; primary producer gain access to credit, input, market, production\ntechnology etc.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/incorporation-of-a-producer-company-through-spice\/#What_is_Producer_Company_Registration\" >What is Producer Company Registration?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/incorporation-of-a-producer-company-through-spice\/#Prerequisites_related_to_the_incorporation_of_a_Producer_Company_in_India\" >Prerequisites related to the incorporation of a Producer\nCompany in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/incorporation-of-a-producer-company-through-spice\/#Pre-registration_requisites_for_the_incorporation_of_a_Producer_Company\" >Pre-registration requisites for the incorporation of a\nProducer Company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/incorporation-of-a-producer-company-through-spice\/#Documents_Required_for_the_Incorporation_of_a_Producer_Company\" >Documents Required for the Incorporation of a Producer\nCompany<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/incorporation-of-a-producer-company-through-spice\/#Procedure_to_be_Followed_for_Incorporation_of_a_Producer_Company_via_SPICe_form\" >Procedure to be Followed for Incorporation of a Producer\nCompany via SPICe+ form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/incorporation-of-a-producer-company-through-spice\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Producer_Company_Registration\"><\/span>What is Producer Company Registration?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In India, people have direct or indirect dependence on the agricultural field. But still being the fast-growing nation, farmers in India lacking access to improved technology and are scattered unevenly. The lack of necessities, including crop and technologies, often compel farmers to take their own life. Looking back to this severe difficulty, the <em><strong>Government<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Government\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> has set up an expert committee to resolve the farmers&#8217; pressing issues.<\/p>\n\n\n\n<p>A producer company refers to a company that is\nregistered under the Companies Act with common objectives of procurement, agro\nproduction, post-harvesting errands, import goods, selling and export of\nprimary production of the members to reap more benefits.&nbsp;<\/p>\n\n\n\n<p>A producer company consists of a committee of 10 or more individual and two institutions with a mutual goal of dealing with agricultural &amp; post-harvesting activities. In laymen terms, it is referred to a group of farmers who collectively works for their better living.&nbsp;<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/online-producer-company-registration-procedure-and-documents\/\">Producer Company Registration \u2013 Know the Documents Required and the Incorporation Procedure<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prerequisites_related_to_the_incorporation_of_a_Producer_Company_in_India\"><\/span>Prerequisites related to the incorporation of a Producer\nCompany in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Ten\nor more than ten individuals<\/li><li>Two\nor more than two institutions<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pre-registration_requisites_for_the_incorporation_of_a_Producer_Company\"><\/span>Pre-registration requisites for the incorporation of a\nProducer Company<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Minimum\nno. of 10 members &amp; 5 directors should be there.&nbsp;<\/li><li>Minimum\npaid-up capital amounting Rs. 5 Lakhs&nbsp;<\/li><li>The\nformer company should only have equity share capital.<\/li><li>Such\ncompanies cannot acquire the status of a public company.&nbsp;<\/li><li>There\nought to be a minimum of 4 boards meeting per year, i.e. every three months.\nThe company must stick to this frequency of conducting the board meeting.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_for_the_Incorporation_of_a_Producer_Company\"><\/span>Documents Required for the Incorporation of a Producer\nCompany<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Permanent\nAccount Number\/Voter ID\/Passport of all the shareholder and Directors.&nbsp;<\/li><li>Updated\nbank statement<\/li><li>Voter&#8217;s\nID\/Passport\/DL of all the shareholder and directors.&nbsp;<\/li><li>Passport-sized\nphotos of all the shareholders &amp; Directors.&nbsp;<\/li><li>Copy\nof any Utility bill such as electricity or gas bill as a residential proof<\/li><li>In\nthe case of a rented property, a copy of the Rent agreement &amp; NOC from the\nowner<\/li><li>In\ncase of owned Property, Property Papers&#8217; copy.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Procedure_to_be_Followed_for_Incorporation_of_a_Producer_Company_via_SPICe_form\"><\/span>Procedure to be Followed for Incorporation of a Producer\nCompany via SPICe+ form<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <a href=\"https:\/\/corpbiz.io\/producer-company-registration\"><strong>producer company registration<\/strong><\/a> process is more or less identical to that of privately held entities. The steps below will help you complete the incorporation process of the producer company without any hassle.&nbsp;<\/p>\n\n\n\n<p><strong><em>Steps for incorporation of a Producer Company via SPICe+:<\/em><\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"997\" height=\"802\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/05\/Steps-for-incorporation-of-a-Producer-Company-via-SPICe.png\" alt=\"Producer Company via SPICe+ form\" class=\"wp-image-31052\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/05\/Steps-for-incorporation-of-a-Producer-Company-via-SPICe.png 997w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/05\/Steps-for-incorporation-of-a-Producer-Company-via-SPICe-300x241.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/05\/Steps-for-incorporation-of-a-Producer-Company-via-SPICe-768x618.png 768w\" sizes=\"(max-width: 997px) 100vw, 997px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Step 1: SPICe+ Login<\/h3>\n\n\n\n<ul><li>First, visit the MCA portal and then select MCA services followed by the <a href=\"https:\/\/corpbiz.io\/learning\/new-spice-plus-form-launched-by-mca\/\"><strong>SPICe+ form.<\/strong><\/a><\/li><li>Select &#8220;New Application&#8221; in case of new company registration.&nbsp;<\/li><li>By choosing the existing application, the user will come across an application along with an approved\/prosed name.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Step 2: Spice+ Part A<\/h3>\n\n\n\n<ul><li>Once\nyou select the new application, SPICe+ Part A gets a prompt on your screen\nenclosing fields related to name reservation.&nbsp;<\/li><li>User\nfills in the information of class, type, category &amp; proposed name of the\nfirm &amp; hit the Auto check button. The portal then performs first level\nscrutiny of the proposed name against the predetermined norms from its\ndatabase.&nbsp;<\/li><li>After\nthe user can submit the name reservation and proceed for incorporation. The\nportal then opens a web form that contains different sections.&nbsp;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Step 3: SPICe+ Part B<\/h3>\n\n\n\n<ul><li>Each\nsection of Part B entails the &#8216;Save and continue button. Check form validations\nshall occur on each section.&nbsp;<\/li><li>Enter\nthe required information of the firm to be registered, such as Correspondence\nAddress, Details related to capital, and Subscribers and directors details.<\/li><li>Next,\nprovide info regarding the Permanent Account Number (PAN) and Tax Deduction\nAccount (TAN).<\/li><li>Upload\nthe soft copy of the mandatory documents in the form.&nbsp;<\/li><li>Give\nconsent to the relevant declarations and then select pre-scrutiny at the bottom\nof the page.<\/li><li>Once\npre-scrutiny is validated, hit the Submit button. A confirmation message shall\nappear on your registered contact details.&nbsp;<\/li><li>User\ncan then get the Spice+ Part-B pdf on their system from the dashboard for\naffixing DSCS.<\/li><li>This\nwill activate all the relevant linked forms that user can fill and submit based\non information furnished in Part-B.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Step 4: AGILE \u2013PRO:<\/h4>\n\n\n\n<p>AGILE, i.e. Application for Goods and Services\nidentification numbers, employees state insurance corporation registration\n&amp; Employees provident fund organization registration. The AGILE \u2013PRO web\nform is the replacement of the old AGILE form (INC-35).&nbsp;<\/p>\n\n\n\n<p><em><strong>AGILE PRO needs to be filed as linked with Spice+ for:<\/strong><\/em><\/p>\n\n\n\n<ul><li>Registration with GSTIN.<\/li><li>Registration with EPFO.<\/li><li>Registration with ESIC<\/li><li><a href=\"https:\/\/corpbiz.io\/professional-tax-registration\"><strong>Professional Tax Registration<\/strong><\/a>.<\/li><li>Bank account number.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Step 5: eMoA and eAoA form<\/h3>\n\n\n\n<ul><li>Electronic\nMemorandum of Association (aka eMoA) is a charter of the company that is\nrequired to be filed as a linked form to Spice+.<\/li><li>Electronic\nArticles of Association (eAoA) that outline policies around the company&#8217;s\ninternal affairs can be filed as a linked form to SPICe+.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Step 6: URC-1 INC-9 PDF generation<\/h3>\n\n\n\n<p>In the case of Part-I companies, it is necessary\nto file a URC-1 form enclosing the details of the existing entity.&nbsp;<\/p>\n\n\n\n<p>Based on the detail entered in Part B regarding\nsubscribers and directors, the INC-9 declaration form shall populate\nautomatically &amp; and accessible in the user&#8217;s dashboard to download &amp;\naffix DSCs.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 7: Spice + Upload<\/h3>\n\n\n\n<p>After affixing Digital signature certificates in\nPart B pdf and other linked form, click on the option called upload\nforms.&nbsp;<\/p>\n\n\n\n<p>Upload Part-B pdf along with all relevant linked\nforms.<\/p>\n\n\n\n<p>Upon successful uploading, a unique service\nrequest number, aka SRN shall prompt on the screen.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If the web-based forms seek resubmission due to any error identified upon processing, the SPICe+ form must be submitted in the manner mentioned above. For any doubt or clarification regarding Incorporation of a Producer Company in India, feel free to have a chat with <a href=\"https:\/\/corpbiz.io\/\"><strong>CorpBiz&#8217;s<\/strong><\/a> professional.&nbsp;<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/benefits-of-producer-company-registration-in-india\/\">What are the various benefits of registration of Producer Company in India? <\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article, we shall briefly explain the process of Incorporation of a Producer Company via SPICe+.The Indian economy is agricultural-oriented. Around sixty per cent of the populace in India funds their need through agricultural activities. But, the farmers and primary producers had gone through a lot of hardship in India.\u00a0 To address these critical [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":31048,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[235],"tags":[1766],"acf":{"service_id":"62"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":4568,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/30986"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=30986"}],"version-history":[{"count":17,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/30986\/revisions"}],"predecessor-version":[{"id":31054,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/30986\/revisions\/31054"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/31048"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=30986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=30986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=30986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}