{"id":37368,"date":"2021-11-01T11:25:34","date_gmt":"2021-11-01T05:55:34","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=37368"},"modified":"2024-09-27T11:01:07","modified_gmt":"2024-09-27T05:31:07","slug":"farmer-producer-company-registration-process","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/farmer-producer-company-registration-process\/","title":{"rendered":"Farmer Producer Company Registration Process: Explained"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Producer Company serves as a corporate body that specifically deals with the production, procurement, cultivating, grading, and marketing of the<strong><em> primary product<\/em><\/strong> with the aid of its members. Farmer Producer Company also aims to facilitate financial aid to the said members via extended credit facilities.&nbsp;<\/p>\n\n\n\n<p>Such companies don\u2019t work for the public domain as their object is\nto serve its member only. The member enrolment in Producer Company seeks simple\ndocumentation and process. Such companies can also operate as lending companies\nwithout RBI\u2019s consent.&nbsp;<\/p>\n\n\n\n<ul>\n<li>An entity shall be regarded as a producer company. if;&nbsp;<\/li>\n\n\n\n<li>It is constituted by a group of producers for agri-based undertakings;&nbsp;<\/li>\n\n\n\n<li>It is a registered corporate and a legalized establishment;&nbsp;<\/li>\n\n\n\n<li>Producers serving as the company\u2019s shareholders;&nbsp;<\/li>\n\n\n\n<li>It deals with business undertakings concerning the primary produce;&nbsp;<\/li>\n\n\n\n<li>It operates for the financial well-being of the member producers;<\/li>\n\n\n\n<li>Profit margins are shared amongst the members, and the rest finds their way to the share capital or reserves.<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/corpbiz.io\/producer-company-registration\"><strong>Producer Company<\/strong><\/a> is also regarded as the hybrid of company &amp; co-operative society. It entails the goodness of a cooperative entity &amp; flexibility of a company and excels on the unique elements of cooperative structure with a regulatory framework identical to that of a company.&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\/farmer-producer-company-registration-process\/#What_are_the_key_features_of_the_Farmer_Producer_Company\" >What are the key features of the Farmer Producer Company?<\/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\/farmer-producer-company-registration-process\/#Documentations_required_for_Farmer_Producer_Company_Registration\" >Documentations required for Farmer Producer Company\nRegistration<\/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\/farmer-producer-company-registration-process\/#Pre-incorporation_requisites_for_Farmer_Producer_Company_in_India\" >Pre-incorporation requisites for Farmer Producer Company\nin India<\/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\/farmer-producer-company-registration-process\/#Registration_of_Farmer_Producer_Company_in_India\" >Registration of Farmer Producer Company in India<\/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\/farmer-producer-company-registration-process\/#Why_Approach_CorpBiz_for_Incorporation_services\" >Why Approach CorpBiz for Incorporation services?<\/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\/farmer-producer-company-registration-process\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_key_features_of_the_Farmer_Producer_Company\"><\/span>What are the key features of the Farmer Producer Company?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Understanding the features of the farmer producer company is the\nbest way to get more clarity on its nature and objectives.&nbsp;<\/p>\n\n\n\n<p>A producer company essentially refers to a production entity\noperated by the group of producers (mainly farmers) acting as its members. Such\ncompanies aim to foster the thrift of mutuality and mutual assistance among the\nmembers.&nbsp;<\/p>\n\n\n\n<p><strong><em>Following are some common benefits facilitated by the registered\nfarmer producer company in India.<\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Deposit Acceptance<\/h3>\n\n\n\n<p>Producer Company has the right to accept a deposit in the form of a\nfixed deposit (FD) or a recurring deposit.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Loan against security<\/h3>\n\n\n\n<p>Producer Company can also function as a lending company that can\ndisburse loans against gold, property, FD, Govt securities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Ensure Members Upliftment&nbsp;<\/h3>\n\n\n\n<p>Since Farmer Producer Company is restrained from operating in the public\ndomain, all the profit and benefits find it way to its serving members\nonly.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">No taxes on the agricultural income&nbsp;<\/h3>\n\n\n\n<p>Producer Company that generates profit from agricultural-based\nactivities is exempted from paying any taxes to the IT department.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Loan Facility to Members<\/h3>\n\n\n\n<p>Producer Company has the rights to lend credit to the serving\nmembers.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documentations_required_for_Farmer_Producer_Company_Registration\"><\/span>Documentations required for Farmer Producer Company\nRegistration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Following are the mandatory documentations that one needs to arrange\nfor the incorporation of the farmer producer company in India:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">PAN &amp; Photo<\/h3>\n\n\n\n<p>PAN and Photographs for the serving directors and shareholders&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">ID Proof&nbsp;<\/h3>\n\n\n\n<p>Aadhar card, voter ID, DL &amp; passport.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Address Proof<\/h3>\n\n\n\n<p>Bank Statement, utility bills such as Electricity bill, phone bill,\nLandline bill.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Producer Proof<\/h3>\n\n\n\n<p>Sarpanch letter\/ \/Khasra &#8211; Khatuni\/ ITR with Agriculture Income\/ Any\nother proof that can provide a person as producer<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Registered Address proof<\/h3>\n\n\n\n<p>Utility Bill + Rent Agreement + NOC from Owner<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pre-incorporation_requisites_for_Farmer_Producer_Company_in_India\"><\/span>Pre-incorporation requisites for Farmer Producer Company\nin India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>At Least 10 Producers: Producers who will incentivize\/incorporate the company. Here the promoter can be person or producer institutes.<\/li>\n\n\n\n<li>At Least 5 Directors<\/li>\n\n\n\n<li>Typically, Promoters and Directors are the same in Companies.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Registration_of_Farmer_Producer_Company_in_India\"><\/span>Registration of Farmer Producer Company in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>To initiate the incorporation process, the member of the proposed\nproducer company needs to file an e-form, viz Spice+, on the MCA\u2019s portal. To\nso do, first, the applicant to need register on the MCA portal and open the\nSpice+ form enlisted under the Services section on the home page.<\/p>\n\n\n\n<p><strong><em>Spice+ serves as an e-form for <a href=\"https:\/\/corpbiz.io\/company-registration\" title=\"Company registration in India\">company incorporation<\/a>, which mainly entails two parts:<\/em><\/strong><\/p>\n\n\n\n<p><strong>Part A and Part B&nbsp;<\/strong><\/p>\n\n\n\n<p>Part A allows the applicant to register the proposed company name;\nmeanwhile, the Part B facilitates the following services;<\/p>\n\n\n\n<p><strong><em>Incorporation<\/em><\/strong><\/p>\n\n\n\n<ul>\n<li>PAN allotment<\/li>\n\n\n\n<li>DIN allotment<\/li>\n\n\n\n<li>TAN allotment<\/li>\n\n\n\n<li><a href=\"https:\/\/corpbiz.io\/epf-registration\"><strong>EPFO registration<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/corpbiz.io\/esi-registration\"><strong>ESIC registration<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/corpbiz.io\/professional-tax-registration\"><strong>Profession Tax registration<\/strong><\/a><\/li>\n\n\n\n<li>Opening of Bank Account<\/li>\n\n\n\n<li>GSTIN allotment<\/li>\n<\/ul>\n\n\n\n<p>Spice+ is an integrated web-based application facilitating ten services by&nbsp;3 Central Govt Ministries &amp; Departments, i.e. MCA, Ministry of Labour &amp; the Department of Revenue in the <strong><em>Finance ministry<\/em><\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Ministry_of_Finance_(India)\"><strong><em>[1]<\/em><\/strong><\/a><\/sup>, &amp; One State Government (Maharashtra). This form allows the applicant to save cost and time for commencing a new business in India. Spice+ is the result of continual government efforts towards Ease of Doing Business (EODB).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Approach_CorpBiz_for_Incorporation_services\"><\/span>Why Approach CorpBiz for Incorporation services?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are a lot of legalities that need to be followed by the applicant when it comes to company incorporation. From name approval to post-registration compliances, there is an endless list of legal requisites that could become a hassle for the first-timer. <a href=\"https:\/\/corpbiz.io\/\"><strong>Corpbiz<\/strong><\/a> \u2018s professionals not only simplify the incorporation legalities but also allows the applicant to keep a constant tab on the progress for the application in question.<\/p>\n\n\n\n<p><strong><em>Five Reasons to Choose CorpBiz for Incorporation Services:&nbsp;<\/em><\/strong><\/p>\n\n\n\n<ul>\n<li>End-to-End Support for Incorporation process;<\/li>\n\n\n\n<li>Renders better clarity on the applicable legalities and provisions;<\/li>\n\n\n\n<li>Vast experience in handling post-incorporation compliances;<\/li>\n\n\n\n<li>Ensure seamless paperwork and form-filling;<\/li>\n\n\n\n<li>Renders class-leading service and Charges Nominal fees for      incorporation;<\/li>\n<\/ul>\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>Farmer Producer Company operates under the ambit of Company Act, 2013 and is liable to comply with the provisions mentioned therein. Each member, producer or director of the producer company is liable to perform their duties in line with norms of the provisions. Write to us for grabbing more detail or information on the Farmer Producer Company registration process. <\/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>Producer Company serves as a corporate body that specifically deals with the production, procurement, cultivating, grading, and marketing of the primary product with the aid of its members. Farmer Producer Company also aims to facilitate financial aid to the said members via extended credit facilities.&nbsp; Such companies don\u2019t work for the public domain as their [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":37388,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[235],"tags":[2012],"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":7585,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/37368"}],"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=37368"}],"version-history":[{"count":39,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/37368\/revisions"}],"predecessor-version":[{"id":66430,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/37368\/revisions\/66430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/37388"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=37368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=37368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=37368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}