For setting up a Producer Company in India, there is a requirement of minimum 10 or more individuals or two or more institutions which are mainly indulged in agricultural produces or post-harvest processing activities. Therefore we can say that Producer Company is formed by a group of agriculturist who aims to improve their incomes, profitability, and the standard of living.
Producer Company Registration in India
In India, where around 85% of farmers have small land-holdings around 2 hectares, producer company registration will give immense utility and a great benefit to the member agriculturists and farmers. Enterslice helped numerous farmers all over India in setting up their producer company. Producer Company registration is done according to the Companies Act, 2013. They have the main objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling, and export of the primary produce/import of the goods or services for their benefit.
Benefits of Producer Company Registration
- Separate Legal Entity
- Better Credibility
- Perpetual Succession
What is the Procedure for Producer Company Registration?
Now we will tell you about the producer company registration in India concisely. For Producer Company registration in India, integrated form INC 29 is required to be filed.
Basic Requirements for Producer Company Registration in India
- Minimum 5 directors and 10 shareholders;
- No prescribed limit for the maximum number of members
- There is a requirement of the minimum share capital of Rs. 5, 00,000.
Steps to be followed in Producer Company Registration in India:
- Obtain DSC (Digital Signature Certificate) for all the Directors
- RUN (Reserve Unique Name) form name approval of Producer Company
- Filing of the Incorporation Form SPICE along with the necessary attachments with ROC (Registrar of Companies).
For more information on producer company registration in India, please contact us on info@enterslice.com.
