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Producer Company Registration with Corpbiz

You can now transform your dream of Agricultural Business into a reality with Corpbiz - Contact Corpbiz and start with your Producer Company Registration Today itself

Corpbiz provides top-notch consulting services to assist business owners in starting their ventures from the ground up in Producer Company. With our producer company registration services, we can assure you expertise, proven track record transparent pricing, 24/7 customer support and 99.9% client satisfaction.

Corpbiz is a technology-driven platform that offers expert services in India. Our purpose is to offer a wide range of services relating to legal necessary papers, annual compliances, and the incorporation of producer companies. The experts at Corpbiz are a team of seasoned experts led by a company secretary, lawyers, and chartered accountants who all effectively take part in the registration process of producer company and its related services.

Producer Company is limited to using its members' assistance in the procurement, production, harvesting, grading, pooling, marketing, and trading of primary produce. It is also able to finance these activities by providing credit facilities. It can only collaborate with its members and cannot engage with the general public directly. Nonetheless, it is simple to add members to a Producer Company using a few simple paperwork and a quick procedure. Services for Producer Company registration in India are offered by Corpbiz. We provide comprehensive company registration services. Our services include Company name approval and search, Assistance in applying for Digital Signature Certificate (DSC), Services on Director Identification Number (DIN), Registration/Incorporation Certificate, PAN and TAN of the company, GST registration services, Memorandum of Association (MOA), Articles of Association (AOA), Guidance and assistance in opening a bank account for the company, Employees State Insurance Corporation Registration (ESIC) and Employees Provident Fund Registration (EPFO) and Tax Registration services as well.

How Will Corpbiz Will Help to Overcome These Challenges?

Obtaining a DIN (Director Identification Number)

It can be challenging to obtain a director identification number, as it contains a very through verifications process, submission of various necessary papers and other compliances for producer company registration. Corpbiz helps in overcoming this challenge by making the application for DIN and all its related compliances, with expert guidance.

Filling in a new user registration form or an E-form

It can be challenging to fill an E-From if the individuals are adapted with filling in the form on the website. Filing an application form for producer company registration is the key and first step in a producer registration company. Corpbiz makes sure that the application form for the registration is duly filled in and verified before submission to reduce any kind of delays.

Acquiring a DSC

It is essential to acquire a digital signature certificate for a director at the time of producer company registration. It is one of the elements that are important in the working of the company. Our team of experts at Corpbiz ensure that the applications and forms relating to the acquiring of DSC are all carried out after detailed research.

Name approval

There are many challenges which can be seen at the time of the name search and approval. The name of the producer company should be unique and distinct. Corpbiz helps in overcoming this challenge by ensuring that the company name is approved, and the name is a distinct and unidentical name.

Necessary Paper preparation

There are many necessary papers which are needed for the producer company registration. Preparing these necessary papers can be challenging as it requires gathering various different types of necessary papers for compliance of the rules and regulations. Our experts ensure that all the necessary papers which are required for the registration process are verified and complied with as per the need of producer company registration process.

Compliance challenges

There is a much other important compliance that is to be followed at the time of producer company registration. We ensure that all the compliance is followed by our client. Our experts with decades of experience keep a check on all the compliances and help in overcoming this challenge.

What Are the Benefits of Producer Company Registration in India?

Members' limited liability

An FPO's members are not held personally responsible for the obligations and liabilities of the company. In the event that the FPO files for bankruptcy, their individual assets are safeguarded.

Simplified bank and financial institution credit application process

Since FPOS are viewed as having greater creditworthiness than individual farmers, banks and other financial institutions are more likely to lend money to them. FPOs can negotiate better interest rates since they have access to a wider pool of assets and members.

Perpetual Existence

A production company will always exist, meaning it won't end unless it is formally disbanded. Since the producer company is a distinct legal entity, it is unaffected by the passing away or resignation of any members and is still in operation even after membership changes.

Distribution of profits to members

The farmer-producer company's profit or income is divided among the serving members and stays inside the organization.

There are no taxes on agricultural earnings

Taxes are therefore not applied to the profit that the Producer Company makes. At the moment, the IT department does not require these organizations to deal with any tax requirements.

Acceptance of Deposits

The Producer Company may accept deposits in the form of fixed deposits or recurring deposits in accordance with the current bylaw.

A loan secured by an asset

Lending agencies are legally allowed to operate within Farmer Producer companies. Credit can be extended by them against government securities, gold, and fixed deposits.

Enhanced effectiveness and output

By giving farmers access to improved inputs, technology, and training, FPOS can help them increase their production and efficiency.

Improved Market Access

Farmers can sell their produce at a greater price and expand their market reach with the aid of FPOS.

Restricted obligation

Members of the Producer Company get limited liability protection, which is one of the main advantages of registration. This protects the people's minimal possessions, even in the event that they develop financial or legal capacities. Something like that relieves financial strain and permits business operations to run smoothly.

A distinct legal entity

The Farmer Producer Company's second benefit is that it is a distinct legal entity from its members, meaning that it has the ability to own property and enter into contracts. This might assist you in gaining the necessary respect and confidence from investors, suppliers, and clients.

Loans and Investments

The government has enacted a unique provision for lending money to the producer members of the company since the producer company is made up of people or organizations that are primary producers. NABARD Bank was founded with the express intention of helping farmers and producers financially through NABARD Loans.

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Why Corpbiz for Producer Company Registration?

  • Al-driven platform for service delivery that guarantees prompt assistance in the process of registering a Producer Company.
  • Consistency is maintained with 99.9 % of client recommendations.
  • Effective group of professionals providing Producer Company Registration services.
  • At Corpbiz, we pride ourselves on providing clients with timely updates relating to Producer company registration services.
  • Customized solutions that address every one of your unique business requirements for registering a producer company.
  • Incorporated numerous Producer Companies in India with success.
  • Robust Network of Over 50,000 Attorneys, Lawyers, CPAs, and CAs that assist in producer company registration.
  • Specialists with Many Years of Experience in registering a producer company are a part of the team at Corpbiz.
  • Expertise in Handling Concerns Associated with producer Company Incorporation services.
  • Pay attention to the needs of your clients. A client-centered methodology.

Our Producer Company Registration Services

  • At least ten producers to register the company
  • Minimum 5 and maximum 15 directors
  • Maximum 200 members: if the proposed entity willing to function as a private limited company

Note: Inter state co-operative society functioning as a producer farmer company may have more than 15 Directors for one year from the incorporation date of a producer company.

Procedure of Farmer Producer Company Registration in India

Application Filling and Submission Services

All the application form and submission services are provided by Corpbiz for the producer company registration.

Applying DSC, DIN, TAN and PAN

Our skilled team of experts provide all guidance and assistance needed at the time of application of Director Identification Number, TAN, PAN, and director identification number. Our experts assist in gathering the necessary papers for the same.

Name Search and Approval

The name of the company is one of the crucial aspects at the time of producer company registration. Our experts ensure that the name registered for the producer company is not identical to any other company and is distinct.

MoA and AoA Drafting Services

Experts at Corpbiz ensure that MoA and AoA are drafted while keeping all the important points in mind.

Necessary Paperation Preparation

Corpbiz will provide full assistance in gathering and preparing all the essential necessary papers which will be required in the producer company registration process.

Taxation Services

Tax compliance is an important aspect for any business in the country, our tax experts ensure that all the necessary compliance is followed for taxation at the time of producer company registration.

Advantages of Our Services

  • Expertise
  • Compliance Assurance
  • Tailored Solutions
  • Cost Effective Solutions
  • Post Registration Support
  • Streamlined Registration Process

Our Selling Points

With the registration professionals, Corpbiz is your reliable partner for producer company registration. At corpbiz our distinctive selling points are that make us different from our competition. Our satisfied clientele and commitment to excellence has earned a great reputation for us in the market.

Let's examine more closely what sets us apart from the competition.

Pioneering technology

Using the latest innovations in technology is a cornerstone of our approach. We use innovative technologies to streamline and expedite producer company registration process, including artificial intelligence (Al) as well as online accounting services. Our utilization of technology ensures effectiveness as well as precision by reducing errors and delays.

Proven track record

We have an outstanding track record of effectively establishing producer companies and establishing an extensive record of pleased customers. Over the course of time, we have assisted in 100+ producer company registration, providing them with the legal groundwork required to begin their business operations. Our delighted customers bear witness to our expertise and trustworthiness.

Client centric dedication

What truly sets us apart is our unwavering dedication to understanding and prioritizing the needs and goals of each and every customer. Since every business is different, we tailor our services to ensure that your objectives are precisely reflected in Producer company registration. We promise that our client-centric approach will result in customized solutions that are perfect for your business.

Transparent Pricing Structure

Our ideals revolve around transparency. We advocate for honest, competitive pricing structures that eliminate hidden prices and unexpected extra costs.

What is Producer Company?

India's economy is heavily reliant on agriculture. Approximately 60% of people in the population make their living from agriculture. However, India's farmers and primary producers have always faced hardships. The Government of India established an expert group to investigate these issues under the direction of economist Y.K. Alagh. They presented the idea of producer corporations to the Indian economy in 2002. Since then, they have aided in the primary producers' access to markets, credit, inputs, and production technologies, among other things.

In essence, a producer company is a business that is registered to handle its active members' primary agricultural production. A producer company offers its member producers collective advantages under a strong and unambiguous legal framework by fusing the best aspects of a private limited company and cooperative society. In India, registration as a Producer Company is restricted to companies that are already registered as Private Limited Companies.

However, "Producer Company Limited" will appear at the end of the names under which these companies are incorporated. In India, organizations and individuals engaged in primary production might unite to establish a Producer Company. The majority of the Indian economy is based on agriculture, and in order to promote these activities, farmers were also granted corporate entity level status through the registration of Producer Companies. In the last few decades, the agriculture sector has become a new worldwide phenomenon that has made room for additional Producer Company Incorporations.

Main Objectives of a Producer Company in India

The principal objectives of the producer company in India are as follows

  • Producing, gathering, acquiring, sorting, combining, managing, promoting, selling, and exporting the Members' primary produce or importing items for their advantage.
  • Processing, this includes canning, drying, distilling, brewing, ventilating and packaging its members produce.
  • Producing, distributing, or manufacturing machinery, equipment, or consumables, mostly to its members.
  • Educating both its members and others on the concepts of mutual aid
  • Providing training, research and development, technical assistance, consulting services, and all other activities for the benefit of the organization's members.
  • Production, conveyance, and allocation of energy, revitalization of land and aquatic resources, utilization, preservation, and correspondence about primary goods Producers' insurance or their major crop insurance.
  • Endorsing mutual aid and mutuality strategies.
  • Facilities or welfare measures for Members' benefit, as determined by the Board.
  • Any additional, incidental, or auxiliary action to any of the above- mentioned activities could further the mutuality and help principles among the Members in any other way.

Financing the purchasing, processing, marketing, and other activities mentioned in the preceding sections, including providing its members with other financial services or credit facilities.

Minimum Requirements for Producer Company Registration in India

Companies interested in registering as Producer Companies must first meet the requirements outlined in Section 465 (1) of the Companies Act of 2013. These requirements relate to the company's name, address, capital, number of directors, and number of members. A comprehensive inventory of all these legally required requirements is included in the table below

Producer Companies require a minimum capital of Rs. five lakhs.

The name of the company registered as a producer company has to add the suffix Producer Company Limited in the company's name.

The members of the producer company should be a minimum of two producer institutions, and ten or more than ten individuals who are producers as the members of the company.

A producer company should have atleast five directors.

An address of the registered office, which is a principle place of the business.

Types of Producer Company in India

Financing Business

If a company finances operations related to production, like the development, marketing, or production, it is eligible to receive a producer consumer registration certificate.

Infrastructure Business

A business can also be referred to as a producer company if it offers infrastructure facilities to the producers, such as water resources, energy, irrigation techniques, or guidance on these issues.

Technical Services

A producer consumer registration certificate can be obtained by any business that offers technical assistance, training and educational programs, or research and development related services to producers

Marketing Companies

A producing company can also be defined as a business that markets, promotes, or offers educational services to its members and other audiences.

Production Companies

Producer businesses' major goal is to acquire a license for producer consumer registration by manufacturing, sourcing, and producing goods on behalf of their members and other primary producers.

What is the Process of Registering Producer Company in India?

The proposed member must submit an online application in the Spice+ e- form on the website of the MCA in order to start the incorporation procedure. The aforementioned form can be found in the MCA portal's services section, which the applicant can access after setting up an account.

Part A and Part B of the Spice+ e-form, which serves as an online application for company registration, are two crucial sections.

Step 1: Select a category for the company.

The first stage in forming a farmer-producer company is deciding on the kind of business you want to create, such as a normal or small producer company. According to the former, the name appears to indicate how many people are involved in this union. It is composed of ten people at the very least, and up to 50 lakhs in paid capital comes next. However, these customs do not limit the latter in the same way.

Step 2: Select the Company's name

A farmer-producer business ought to call itself something distinctive and different.

Step 3: Get a certificate of digital signature (DSC)

Obtaining a digital signature certificate for the company's directors and shareholders is the third stage. Typically, it is necessary in order to sign electronic necessary papers while registering.

Step 4: Obtain a Direct Identification Number (DIN).

The directors of the company must provide you with the Direct Identification number in this case. For example, MCA allocates DIN.

Step 5: Write the AOA and MOA

Drafting the articles of association and memorandum of association is the next step. Furthermore, it is referred to as a legal necessary paper that outlines a company's policies and procedures.

Step 6: Make an incorporation necessary paper request

For your farmer-producer company, you need incorporation paper works from the Registrar of Companies (ROC).

Step 7: Getting an Incorporation Certificate

The Producer Company Registration will be finalized and a certificate of incorporation will be issued upon the Registrar of the Company giving their permission for your certificate. It makes sense that it is one of the key necessary papers proving the Company's existence.

Necessary Papers Required for Producer Company Registration in India

Following is the list of crucial necessary papers that are required for producer company registration in India

  • PAN card
  • Address proof of the principal place of business of the company
  • Passport Sized Photograph
  • Aadhar Card or Voter's ID
  • A bank statements
  • ID proofs of the members, directors of the producer company
  • Producer proof
  • No objection certificates
  • Rent agreement if the business place is rented
  • Additional necessary papers

The above-mentioned necessary papers are not exhaustive, additional necessary papers can be required which can differ from case to case.

Producer Company Compliances Calendar

Form 23A: All companies are required by Section 220 and Rule 7B of the Act to file this form with the Registrar of Companies in order to submit a balance sheet.

Form 23ACA: In accordance with section 215 of the Companies Act, any producer company must file this form with the Registrar of Companies in order to verify and file the company's profit and loss account.

Form 20B or Form 21A: Any producer company filing an annual return must include one of these forms since Form 21A is for companies without share capital and Form 20B is for companies with share capital.

Form MBP-1: In accordance with section 184(1) of the act, this form must be filed. Each director must and will disclose his interest, holdings, or any changes to his interest in the previously submitted forms in other entities in this form at the very first meeting of the Board of Directors in each fiscal year.

Form DIR-8: Each director of the company must file Form DIR-8, to disclose the requirement for non disqualification under Sections 164(2) and 143(3) (g), with the company.

Form DPT-3: Under section 73 rule16 of the act, any producer company must file the necessary form regarding the return of deposits and other information not regarded as deposits.

BEN-2: In accordance with section 90, all companies must file BEN-2 no later than 30 days after receiving BEN-1.

DIR-3: KYC (Know Your Customer) is just as important for the general public as it is for a business and its director. Every director is required by rule 12A to file the KYC form by September 30 of each year.

MSME -1: In accordance with section 405 of the law, any producer firm is required to file this form every six months. This must be submitted for the months of April 1 through September 30 and October 1through March 30. It concerns the company's outstanding payment to the MSME.

Forms MGT-7 and AOC 4: The production company is required to file these forms in accordance with Section 581ZA regarding the annual return and financial statement, respectively, and to attach the company's financial statements. The corporation must file its annual returns for the fiscal year that ran from April 1 to March 31 within sixty days following the general meeting. Additionally, the company's financial accounts must be submitted within 30 days following the general meeting. The cash flow statement, profit and loss statement, balance sheet, and further audit reports are all included in the financial statements.

Every fiscal year, the production company's AGM is scheduled. The notice period for the annual general meeting should not be longer than fifteen months between the two annual general meetings. Within ninety days of the incorporation of the company, the first annual general meeting will be held. At Annual general meeting the members will adopt the articles of the producer company and select and appoint the board of directors for the company.

Following will be included

  • Minutes of EGM and AGM which were previously held
  • Names of the candidates which are elected
  • General meeting agendas
  • Resolutions or motions on the director of the producer company appointments
  • Audit of the balance sheets, profit and loss statement of the producer company along with subsidiaries if any, with the board of director's report.

Penalty for Non-Compliance by Producer Companies

The following penalty will apply to any default that the Producer Companies' directors have mentioned below

  • Not calling an AGM or other general meeting
  • Transfer of custody of the accounting books

A fine of INR one lakh could be imposed on the Producer Companies. A per day penalty of INR 10,000 will be applied if the default occurs continuously.

How Corpbiz Help You to Get Producer Company Registration?

  • Fill The Form
  • Get A Call Back
  • Track Progress
  • Submit The Necessary Papers
  • Get Deliverables

Why Contact Corpbiz?

Corpbiz is a technology-driven platform that offers expert services in India. We work hard to give our clients the greatest service possible

  • Every call or mail is answered by us in a matter of minutes.
  • With only a click thanks to our advanced automation and customer empowerment features.
  • Speak with us: Stop worrying about registering your business because we offer a wide range of corporate services.
  • Our team of professionals will inform you about the project and, following thorough investigation and inspection, recommend the premium.
  • Corpbiz has a wide global network spread over several nations, enabling hassle-free global certification and approval.

Frequently Asked Questions

For the producer company to be incorporated, it must have a minimum of two producer institutions, or at least ten members, and a share capital of at least five lakh rupees. A minimum of five directors are needed, and professional qualification (such as CS or CA) must be submitted with appropriate identity and address evidence.

Any 10 or more individual producers can collectively set up a farmer producer company or any two or more producer institutions can set up a producer company.

A corporate body is registered with MCA, for the purpose of agricultural production post -harvesting processing activities, is known as a Producer company. It can be formed by a minimum of 10 people and two institutions.

A Farmer Producer Company has some attributes of a private limited company as well as co-operative societies. Such entities aim at accumulating farmers and operating for their betterment, primarily in terms of finances.

It can appear that the production businesses are public companies based on their names. Conversely, Section 581C of the Companies Act, 1956 implies that a production business will not be considered a public company and will instead become a corporate entity akin to a private company.

There are many requirements which are important at the time of establishing of producer company. Ten or more 'Primary Producers' are required to launch a producer firm. They register with the help of two individuals at least, much like a private limited company.

A producer company has a board of directors, who are appointed and selected by the members of the company itself. A director may be appointed for a term of no more than five years, but no less than one year. Furthermore, each retiring director is qualified for reelection as a director by the members.

It is necessary to provide an address in India for the company's registered office. The location where communications from the MCA will be received may be commercial, agricultural, or residential.

Like any other company, the producer company also has many benefits upon registering. There are many benefits of a Producer company registration some of these benefits are limited liability, various tax benefits, having a separate legal entity etc.

The producer company consists of individual producers as well as institutions of producers. The company also consists of a board of directors which is selected by the members of the company only.

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