How To Register A Farmer Producer Company?
Farmer producer Company- Overview
A Producer Producer was launched in India with the Firms Act, 2013. It offers individuals engaged in actions associated to producing (what has been grown or produced, significantly by farming) the chance to kind an organization. A farmer producer firm will be shaped by 10 or extra producers (individuals concerned in, or in actions associated to, produce or progress), two or extra producer establishments or a mix of 10 or extra producers and producer establishments. Such an organization can solely have fairness capital, require a minimal of 5 administrators and an authorised capital of ₹ 5 lakh. The process for forming a Farmer Producer firm is much like the one for forming a personal restricted firm.
Sorts of Farmer Producer Company
Manufacturing Companies
The primary capabilities of producer firms are manufacturing, procurement or manufacture of any major produce for its members (for additional sale) and to others.
Advertising and marketing Companies
Even a enterprise concerned within the advertising and marketing or promotion of major produce or provision of instructional companies to members and others can represent itself as a farmer producer firm.
Technical Service Companies
Any enterprise providing technical help to producers, offering coaching and academic companies or conducting analysis and growth can register as a producer Company.
Financing Companies
Any enterprise financing producer actions, be it within the manufacturing, advertising and marketing or growth area, can register itself as a farmer producer firm.
Infrastructure Companies
Companies concerned in offering infrastructure to producers, whether or not within the type of electrical energy, water assets, irrigation strategies, land utilisation, or session with regard to the identical, might represent themselves as a producer firm.
Documents Required for FPO Registration
- TO BE SUBMITTED BY DIRECTORS & SHAREHOLDERS
- Scanned copy of PAN Card or Passport (Overseas Nationals & NRIs)
- Scanned copy of Voter’s ID/Passport/Driver’s License
- Scanned copy of Newest Financial institution Assertion/Phone or Cell Invoice/Electrical energy or Gasoline Invoice
- Passport-size {Photograph}
- Specimen signature (clean doc with signature [directors only])
Notice: Any one of many administrators should self-attest the primary three paperwork. Within the case of overseas nationals and NRIs, all of the paperwork should be notarized (if presently in India or a non-Commonwealth nation) or apostilled (if in a Commonwealth nation).
FOR THE REGISTERED OFFICE
- Scanned copy of Newest Financial institution Assertion/Phone or Cell Invoice/Electrical energy or Gasoline Invoice
- Scanned copy of Notarised Rental Settlement in English
- Scanned copy of No-objection Certificates from property proprietor
- Scanned copy of sale deed/Property Deed in English (in case of owned property)
Notice: Your registered workplace needn’t be a business house; it may be your residence, too.
FPO Registration Course of
5 Enterprise Days
A minimal of 5 administrators should apply for a digital signature registration on-line, which is important to file the FPO firm registration paperwork. For this, you’ll solely want to offer a couple of scanned paperwork and particulars; our representatives will fill the shape and submit it on-line.
7 Enterprise Days
As quickly as we apply for the DSC, we’ll put together the SPICe i.e. INC-32 paperwork. These paperwork will take round every week to arrange, and can embody the title on your firm, the Memorandum of Affiliation (MoA) and Articles of Affiliation (AoA). As soon as these paperwork are ready satisfactorily, they are going to be submitted to the RoC.
10 TO 15 Enterprise Days
Relying on the workload of the RoC, the paperwork can be accredited in 10 to fifteen days. As soon as accredited, the Certificates of Incorporation can be mailed to your registered workplace tackle. With this doc, you’ll be able to apply for a Everlasting Account Quantity (PAN) and Tax Account Quantity (TAN), each of that are needed for opening a checking account within the title of the enterprise.
Benefits of a FPO Registration
Restricted Legal responsibility
All companies can run the danger of not having the ability to repay their liabilities. It’s a needed evil. On this occasion, a sole proprietor (or particular person producer) could be personally accountable for all of the money owed of the enterprise. The members of a producer firm, however, have limitless legal responsibility as the corporate is an entity in itself. Due to this fact, solely the quantity invested within the enterprise could be misplaced; the non-public property of the administrators could be protected.
Economies Of Scale
Solely 15% of India’s farmers personal over two acres of land. Nearly all of farmers are, due to this fact, unable to soundly unlock the benefits that include economies of scale. With a farmer producer firm, a number of farmers can work as a collective and decrease prices, scale back threat and even get entry to higher credit score amenities. This permits higher planning and bargaining energy with consumers.
Higher Administration
Relatively than a single farmer managing the whole enterprise, work inside a producer firm will be divided between its administrators. The entity is managed by the Board of Administration, which has a tenure of 5 years. Additionally, a Producer firm has a separate authorized existence, which implies that it’s not affected by the loss of life of any of its members.
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