REGISTRATION PROCESS OF A PRODUCER COMPANY(FARMER)

Saptaparni Raha
Jul 27, 2022
2 min read

July 25, 2022

Introduction:

A producer company can be formed by 10 or more persons, 2 or more institutions, or by a collaboration of both, but there are no upper limitations on the number of members. This company aims to procure, produce, harvest, garden, pooling, market, sell or export, and import the product. It tries to improve the financially aggrieved farmers in India through synergy and collective efforts.

Documents Required to Incorporate the Farmer Producer Company:

PAN card and photograph of the active directors and shareholders.
ID proof.
Aadhar card, driving license, voter cards of the director, members, and shareholders.
Bank statement, landline bills, mobile and electricity bills.
Producer proof.
Sarpanch letter/Khasra-Khatauni/ Income tax return with agriculture income.
Registered address proof.
Non-objection certificate from the owner, utility bill, and rent agreement.

Registration Process:

The proposed members of the company need to make an online application through e-form, viz SPICe+ before the Ministry of Corporate Affairs (MCA). Proposed members of the company would find the said form under the service section of the Ministry of Corporate Affairs portal after creating an account on the said portal.
SPICe+ e-form, the online application for company registration, is divided into two parts:

Part A and Part B:

Applicants can legalize the proposed name through part A, and part B renders the following services.

Incorporation
Director Identification Number (DIN)
PAN
Tax Account Number (TAN)
GST allotment
Profession Tax registration
Opening a bank account.

The SPICe+ form is an integrated digital form that renders 10 services by three different ministries operating at the central and state levels.

Conclusion:

The benefit of this company is that it acknowledges the mixture of a cooperative society and a registered company. This company excels in the unique elements of a cooperative structure by having specific governing frameworks similar to that company.

References

Incorporation of Farmer Producer Company, https://corpbiz.io/producer-company-registration (July 25, 2022)