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Auriga Accounting has a team of registration experts who can provide complete guidance to register your Farmer Producer Company.
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for registration
Your Farmer Producer Company is registered
Auriga Accounting has a team of registration experts who can provide complete guidance to register your Farmer Producer Company .
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for registration
Your Farmer Producer Company is registered
Farmer producer companies (FPCs) are advantageous compared to other companies because they are owned and operated by farmers themselves, ensuring that the benefits directly reach them. FPCs enable small-scale farmers to collectively market their produce, access better prices, and improve their bargaining power. These companies also provide opportunities for farmers to share resources, knowledge, and technology, leading to increased efficiency and productivity. Additionally, FPCs often prioritize sustainable farming practices, environmental conservation, and community development. By focusing on the well-being of farmers and rural communities, FPCs contribute to inclusive growth and the overall development of the agricultural sector.
A Farmer Producer Company (FPC) is a type of organization where farmers collectively manage their agricultural activities, such as production, processing, and marketing. These companies are formed by groups of farmers who come together to pool their resources and expertise. FPCs aim to improve the socio-economic status of farmers by providing them with better access to markets, technology, and credit facilities. By operating as a collective, FPCs enable farmers to negotiate better prices for their produce, reduce input costs, and enhance overall productivity. This model helps empower farmers, particularly smallholders, and promotes sustainable agriculture and rural development.
A Producer Company is a legally governed organization made up of farmers and cultivators. It was created by the government to enhance the standard of living, income and profitability of Indian farmers and agriculturists. Producer companies operate as private corporations and are subject to the laws of the Companies Act 1956.
We give all Information related to Farmer producer companies (FPCs) like Features Advantages, Disadvantages, Registration Processes, and Compliances.
The Board of Management of a Producer Company is easily amended by filing simple paperwork with the Registrar of Companies. The Board of Management of a Producer Company oversees the activities of the Producer Company. Also, be sure to use the salary calculator to easily manage the salary distribution of your employees.
Producer companies are legal entities and have been given legal status by the Act. Thus, a producer corporation has broad legal power and can own property and take on loans. The shareholders (directors) of an organization have no liability to the creditors of the producer company.
Producer companies may, as a matter of jurisprudence, purchase, or otherwise dispose of, property owned in their own name. The member producer cannot claim any property belonging to the corporation as it is operating as a business.
Producer companies have more credibility than unregistered producer unions. Producer Organizations are monitored and registered with the Central Government authorities. Also, state governments monitor producer organizations.
A manufacturer’s company has ‘perpetual succession’. It means that it has a continuous or uninterrupted existence till its legal dissolution. Since they are separate legal entities, Producer Companies are not affected by the demise or expulsion of a member. However, it remains active regardless of membership changes.
As per sub-section paragraph (1) of section 581C of the Companies Act, 1956, any of the following combinations serves to incorporate the producer company:
The process of registering a Producer Company is the same as registering a Private Limited Company. Furthermore, to register a Producer Company, an application has to be submitted to the ROC (Registrar of Companies) in the required format along with all the required documents.
On receipt of the application, the Registrar should check all the documents and issue COI (Certificate of Incorporation). Following are the steps to follow in the process of obtaining registration for Producer Company:
To reserve the name of an organization as a Producer Company, the members of the company are required to submit RUN (Reserve Unique Name) form and ROC. Once you submit the form, the ROC will verify the validity of the names of the members of the company. After the ROC approves the business name, you need to file the Certificate of Incorporation within twenty days.
The first step in the process is to obtain DIN (Director Identification Number) and DSC (Digital Signature Certificate). Also, DSC requires attestation of documents electronically or digitally and the Certifying Authority issues it. Additionally, DIN is mandatory for directors joining the business. You can get the same by filling the SPICE form as submission of a separate form is unnecessary.
Once the name is approved, you need to apply for inclusion in the SPICE form and important documents. These may include:
After verifying the documents and requesting incorporation, the ROC will issue a Certificate of Incorporation (COI), which takes no more than seven days.
Financial Statements: Producer Companies must prepare and file financial statements, including the balance sheet, profit and loss account, and cash flow statement, at the end of each financial year. These financial statements should comply with the applicable accounting standards and be audited by a qualified auditor.
Board Meetings: Producer Companies are required to hold a minimum of four board meetings every year. The board meetings should be conducted to discuss and decide on various matters concerning the company’s operations, financials, compliance, and strategic decisions. Proper minutes of the board meetings should be maintained.
Filing of Annual Returns: Producer Companies need to file their annual returns with the Registrar of Companies (RoC) within 60 days from the date of the AGM. The annual return should be filed in the prescribed format and should include details such as the company’s financial information, changes in directors or key personnel, and other required information.
Statutory Audit: Producer Companies are required to have their financial statements audited by a qualified Chartered Accountant. The audited financial statements should be included in the annual return and should comply with the applicable auditing and accounting standards.
Compliance with Tax Laws: Producer Companies need to comply with the tax laws applicable to their operations. This includes filing income tax returns, paying taxes, and complying with Goods and Services Tax (GST) regulations, if applicable.
Compliance with Other Laws: Producer Companies must comply with other relevant laws, rules, and regulations applicable to their business activities. This may include labor laws, environmental regulations, sector-specific regulations, and any other applicable laws.
Disclosure Requirements: Producer Companies are required to make various disclosures in their financial statements, annual reports, and other filings. These disclosures may include related party transactions, loans and advances to directors or key personnel, and other significant information as required by law.
Auriga Accounting Private Limited in India provides Company Registration at a reasonable price or if of Farmer Producer Company Registration in India from us then we give you a special discount. Our services are value for money and you never paid a penalty. Our clients are all over India i.e., Chhattisgarh, Assam, Maharashtra, Uttar Pradesh, Delhi, Madhya Pradesh, Bihar, and many other states, and they are very happy with us. We also give you time-to-time updates with full transparency.
Steps | Fees |
Digital Signature Fees | ₹ 8,000 |
Government fees ( Stamp Duty) | ₹ 6,000 |
Professional Fee | ₹ 2,499 |
Total cost | ₹ 16,499 |
When the time comes to register, the Producer Company will become a corporate body like a Private Limited. The provisions of the Companies Act apply.
Under no circumstances should a Producer Company follow the route of becoming a Public Limited Company as per this Act. The conclusion is that a Producer Company in India shall not become an open (or publicly classified) private limited corporation.
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Auriga Accounting is an accounting and financial consulting firm that provides various services, including incorporation of producer companies. Incorporating a producer company can be a complex process that involves various legal and regulatory requirements. Auriga Accounting can help simplify this process by providing the following services:
An FPO is a collective entity formed by farmers to enhance their bargaining power, access better resources, and improve agricultural productivity. Registering an FPO helps farmers benefit from various government schemes and programs, access credit, and market their produce more effectively.
To register an FPO in India, you can get in touch with Vakilsearch. Our team can complete the whole process in just 4 steps. Our team will prepare the necessary documents, including a memorandum of association and bylaws. We will apply for registration with the relevant authority, such as the Registrar of Companies for a producer company or the Registrar of Cooperative Societies for a cooperative society.
FPO registration offers several advantages, including:
The specific documents needed may vary based on the chosen legal structure, but generally, you will require:
There are costs involved in the registration process, such as government fees and professional fees if you choose to engage a consultant or legal expert. These costs can vary depending on the legal structure and location. For more information get in touch with our experts.
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