More than 60% of India Population is dependent upon agriculture produce. The Farmers and related person engaged in direct or indirect agricultural activity are in unorganized form and most of them are having education less than intermediate level. Due to the unorganized sector most of the technology up gradation and recent market development are not explored by farmers.
The Government of India use to promote agriculture through various schemes and incentives. One of the measure is Producer Company Registration. Producer Company registration is governed by the provisions of part IX A of The Companies Act 1956, there are no separate provisions in Companies Act 2013
and the provisions of Part IX A is not yet repealed.
Producer Company Registration is a body corporate, it has the hybrid model of company and cooperative society. A registered producer company can undertake the following activities:
1. Producing, processing, harvesting, procurement, grading, pooling, handling, export or import of goods or services
2. Rendering technical consultancy services, training, education, research and development for the benefit of its members.
3. Revitalization and cultivation of land and water resources relatable to primary produce.
4. Granting and providing financial assistance to the members of producer company.
For Producer Company Registration a minimum of 10 or more individuals are required engaged in agriculture producing activities, 2 or more producer institutions can also be able to register Producer Company. A combination of individuals and producer institution can also register themselves as Producer Company. There is requirement of minimum 5 directors and maximum 15 directors.
Producer Company Registration is completely online process and its application for incorporation is done on the portal of Ministry of corporate Affairs. The registration requirement of Producer company includes:
a. KYC documents of proposed directors (PAN, Aadhaar card, passport photo, e-mail id and mobile number)
b. Obtain DSC (Digital Signature Certificate) for the proposed directors.
c. Apply for Name Approval before the registrar of companies
d. prepare MoA (Memorandum of Association) and AoA (Articles of Association) of the proposed producer company.
A perfect example of Producer Company Registration is AMUL, this brand name need not any introduction, it work with Diary producing agriculturists and the core objective is to impart technical skills and provide latest technology to meet its global quality standards and simultaneously improve the livelihood of agriculturists associated with it.
The producer company organization is regularly supported by agencies of Central Government and State Government such as NABARD. It also supported by other multilateral agencies such as World Bank, UNDP etc.
We at ReturnFilings.Com will understand the purpose of your proposed set-up of Producer Company and thereafter will provide you analysis of registering in this category covering almost all scenarios to carry out your activities effectively and efficiently. Based upon the Registration Certificate we need obtain a PAN (Permanent Account Number) in the name of registered entity to carry out the business. We at ReturnFilings.Com will apply for PAN on behalf of your Registered Producer Company and thereafter provide registration under other regulatory requirement based upon the need of such registration requirement i.e. GST, TAN, Import Export Code etc.
Apart from above, even after obtaining registration under various laws, we at ReturnFilings.Com also fulfill various compliance on your behalf in order to ensure proper and smooth functioning of business and to avoid unnecessary interest or penalty for non-compliance. We at ReturnFilings.Com are determinate to provide end to end solution, our motto is you concentrate on your business while we at ReturnFilings.Com
will take care of all your compliance need.