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REGISTRATION
FARMERS PRODUCER COMPANY
WHAT IS FARMERS PRODUCER COMPANY?
A Farmers Producer Company is a company registered under the Companies Act, 2013, which has the objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit.
A Farmers Producer Company (FPC) registered under Companies Act 2013 & having turnover up to 100 crore received 5 years tax exemption from FY 2018-19, they are not required to pay tax on profit from farm related activities.
A Farmers Producer Company primarily deals with agriculture & farmers, various governments loan, project finance, subsidies & grants are available for organised group of farmers. A Producer Company is a group of unorganised groups of farmers for the benefit of farmers.
India is a nation of Farmers, for development of better India, development of farmers is at most important. Over 95% of the Farmers in India are small and marginal farmers with land holdings small pieces of land. The unorganised farmers and farm lands, leads non-adoption the latest technologies in farming.
By organization of these farmers into producer companies, economies of scale can be achieved and the livelihood of farmers can be improved. Thus, the concept of producer company is aimed at empowering farmers by creating clusters of farmers organized as a Producer Company.
BENEFITS OF REGISTRATION OF FARMER PRODUCER COMPANY
TAX EXEMPTION
A Farmer Producer Company (FPC) registered under Companies Act 2013 & having turnover up to 100 crore received 5 years tax exemption from FY 2018-19, they are not required to pay tax on profit from farm related activities.
BETTER CREDIBILITY
The Farmer Producer Companies offer greater creditability than that provided by unregistered producer’s organization.
REGISTRATION WITH UNIQUE NAME
Registration of Farmer Producer Company with Central Government (Ministry of Corporate Affairs) with unique name not be same or similar to the name of any existing company or a trademark.
INCREASE IN VALUATION
Gradually increase in valuation of your business venture, as your business progress.
EASY LOAN
Better borrowing capacity from banks and public, Banks & financial institute provide funds to company rather than to individual proprietary concern or partnership firm.
LOAN TO MEMBERS
A producer company can distribute loans to its farmer/agriculturist members and charge reasonable interest from them.
LIMITED LIABILITY OF MEMBERS
Limited liability of members in company debts.
In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors.
CHANGES IN MANAGEMENT IS EASY
Changes in the Board of management of a Farmer Producer Company can easily and swiftly be made just through filing some simple forms with ROC.
PERPETUAL EXISTENCE
Separate Legal Perpetual Existence of Business. Doesn’t get affected by death of member or director.
COMPANY CAN HOLD PROPERTY
Company can hold residential or commercial property in its own name. The Company can enter into transactions in its own name.
ANNUAL COMPLIANCES
The Farmer Producer Company requires to get their financial Statement (Balance Sheet & Profit & Loss Account) audited every year & file Annual Return & Audit Financial Report to Registrar of Companies (ROC).
The Company requires to hold Board & Annual General Meeting at regular interval
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DOCUMENTS FOR REGISTRATION OF PRIVATE LIMITED COMPANY
DOCUMENTS OF DIRECTORS/MEMBERS
(FOR MINIMUM 2 MEMBERS)
Passport size photo ( 3 Copies ).
PAN Card.
Aadhar Card or Passport or Voter Id or Driving License (Any two).
Copy of Bank Passbook or Bank Statement or Mobile Bill or Telephone Bill
(not more than 1 months old) in name of applicant.
7/12 Utara of Farm Land in the name of applicant.
If 7/12 Utara is not available than, Consent letter from Land Owner (Format will be provided).
Certificate from district or taluka Agricultural Officer. (Format will be provided).
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DOCUMENTS OF REGISTERED OFFICE ADDRESS
Electricity or Phone Bill or Mobile Bill of office address.
Landlord NOC (Format will be provided).
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OUR PACKAGE
ALL INCLUSIVE PACKAGE INCLUDES
Digital Signature Certification of all 10 Directors and members.
DIN of 5 Directors.
Unique Name Search & Approval.
Authorized Share Capital of upto 10 Lakhs.
Incorporation Certificate, MOA & AOA.
PAN Number & TAN Number.
Bank Account Opening Documents.
PF & ESIC Registration
Professional Tax Registration
Government Fees.
Stamp Duty.
Professional Fees.
Advise from Expert.