How to Register Your Farmer Producer Company in India

A producer is anybody who works in a field that is close to or linked to primary production. As a result, “Producer Company” is a catch-all term for everything stated below.

Producing, collecting, purchasing, sorting, pooling, administering, advertising, reselling, selling the membership’s local producers, or importing items or services.

Goals of the Producer Company

The producer company is essentially allowed to do any of the following responsibilities on behalf of the members, either directly or through other entities:

Aims Of Producer Company The producer company’s primary focus is its members’ output.

• The acquisition, production, harvesting, grading, pooling, handling, marketing, selling, or export of a product or the import of goods and services for the benefit of members.
• Members’ product is processed, which includes preserving, distilling, brewing, canning, and packaging.
• Manufacturing, selling, or providing its member’s machinery, equipment, or supplies.
• Educating its members and others in the spirit of cooperation.
• Giving members technical assistance, consulting services, research and development, training, and other services to increase their interest.
• Power generation, transmission, and distribution, land and water resource restoration, dialogue, and communication about primary produce.
• Primary products and their producers are insured.
• Promotion of mutuality and mutual help practices.
• Members benefit from welfare initiatives.
• Any additional action that is auxiliary or incidental to the above-mentioned goals.
• Financing all operations or offering credit or financial facilities to members.

Mandatory Documents for the incorporation of Farmer Producer Company

The following documents are required for the incorporation of Farmer Producer Companies in India:

Documents Required for Producer Company Registration PAN & Photo PAN & photo are required for each & every director & shareholder in India.

• PAN & Photo
• PAN & Photographs of the active directors & shareholders
• Address Proof
• Driving License, passport, Aadhar Card, & voter ID of the Directors, members, and shareholders.
• Mobile bills, utility bills such as landline bills, electricity bills, and Bank statements.
• Agriculture Income/Sarpanch letter/ /Khasra – Khatuni/ Income Tax Return (ITR) Any other proof of a person as a serving member.
• Owner’s no objection certificate, utility bill, and rent agreement.

Producer Company Registration Method

The Producer Company Registration procedure is simple. However, it must be carried out by a professional. Furthermore, the government has modified the system entirely to increase the ease of doing business. However, the government makes it more complicated instead of simplifying the process.

Virtual Auditor is a specialized company that registers and manages Producer Companies in India and handles hundreds of companies around the country. Let’s understand all the phases of Producer Company Registration.

Gather all Required Documents

The first step is to gather all required documents and send them a scanned copy

Apply for Name Approval

After applying for name approval, the next step is to apply for a company name. The company’s name must comply with Rule 8 of the Company Incorporation Rules. The approved name is only valid for 20 days.

Apply for Digital Signature

The next step is to get a digital signature. The DSC is necessary for all company directors/shareholders. DSC is a pen drive-based signature used to sign electronically on computers.

Prepare all Mandatory Documents

Once the name has been approved, the following step is to gather all of the mandatory documents for business registration. At this point, the MOA, AOA, INC 9, INC 10, DIR 2, and other documents are ready for signature.

Apply for Incorporation

Once the promoters have signed all the forms, the next step is to file the company incorporation with SPICE FORM INC 32. The government has also waived the government fees at this point.

Follow-up and Approval

Once you have applied for company registration, the next step is to follow up with the government. If all of your documents are in order, the government will issue the registration certificate, and your firm will be registered.

Final Verdict

The concept of a farmer is achieved through collaboration and coordinated efforts. Producer Company aims to help farmers in India who have faced financial difficulties. These organizations strive to accomplish their fundamental goals, which typically revolve around the members’ mutual economic gain.

A Producer Company can possess only equity share capital; a Producer Company can never be deemed a public company; however, later on, one can convert it into a multi-state cooperative society.

If you are thinking of establishing a farmer producer company, this article will help you take the next step.