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Farmer Producer Company

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Farmer Producer Company

Incorporation of Farmer Producer Company

Incorporating a Farmer Producer Company (FPC) in India involves following the regulations and procedures outlined by the Companies Act, 1956

To initiate the incorporation process, prospective members are required to submit an online application using the e-form known as Spice+ on the Ministry of Corporate Affairs (MCA) portal.

      Farmer Producer Company


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      Corporate Genie has a team of registration experts who can provide complete guidance to register your Farmer Producer Company!
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      Incorporation of Farmer Producer Company

      Eligibility and Member Requirements:
      1. An FPC can be formed by 10 or more individuals, 2 or more institutions, or a combination of both.
      2. There is no upper limit on the number of members in an FPC.
      Board of Directors:
      1. Appoint a Board of Directors who will manage and govern the affairs of the FPC.
      2. Directors should be individuals, and some of them should be members of the FPC.
      Objectives and Purpose:
      1. The primary objective of an FPC should be related to agricultural or allied activities, such as procurement, production, harvesting, grading, pooling, handling, marketing, selling, or exporting agricultural produce or importing goods and services for the benefit of its members.
      Share Capital and Members' Contributions:
      1. Determine the share capital of the FPC and the contribution required from each member.
      2. Members can purchase shares in proportion to their involvement and participation in the FPC's activities.
      Formation and Registration:
      1. Choose a unique name for your FPC and get it approved by the Registrar of Companies (ROC).
      2. Draft a memorandum and articles of association that clearly outline the objectives and rules governing the FPC.
      3. Submit the necessary documents, including the memorandum and articles of association, to the ROC for registration.
      4. Pay the applicable registration fees.
      Compliance and Reporting:
      1. Ensure compliance with all statutory requirements under the Companies Act and other relevant laws.
      2. Maintain proper financial records and prepare annual financial statements.
      3. File necessary documents, such as annual returns, with the RoC.
      Operational Activities:
      1. Start engaging in agricultural and allied activities that align with the FPC's objectives.
      2. Work towards the mutual financial growth and benefit of the FPC members.
      Lending Agency Role (with RBI's Consent):
      1. If the FPC intends to serve as a lending agency, it should seek consent from the Reserve Bank of India (RBI) to engage in such activities.
      Save Time and Hassle. Apply for Farmer Producer Company!

        Farmer Producer Company Incorporation: Mandatory Documents

        The followings are the mandatory documentation for incorporating Farmer producer companies in India:

        PAN & Photo
        PAN & Photographs of the active directors & shareholders
        ID Proof: Aadhar card, Driving License, passport, & voter ID of the Directors, members, and shareholders.
        Address Proof: Bank Statement, utility bills such as landline bill, mobile bill, and electricity bill
        Producer Proof: Sarpanch letter/ /Khasra - Khatuni/ Income Tax Return (ITR)with Agriculture Income/ Any other proof a person as a serving member
        Registered Address proof: No objection certificate from the owner, Utility bill and Rent agreement
        Save Time and Hassle. Apply for Farmer Producer Company!

          Pre-incorporation legalities for incorporation

          At least ten producers to register the company.
          Minimum 5 and maximum 15 directors
          Minimum 5 and maximum 15 directors Maximum 200 members: if the proposed entity willing to function as a private limited company
          Note: Inter-state co-operative society functioning as a producer farmer company may have more than 15 Directors for one year from the incorporation date of a producer company.

          Procedure of Farmer Producer Company Registration in India

          To initiate the incorporation process, prospective members are required to submit an online application using the e-form known as Spice+ on the Ministry of Corporate Affairs (MCA) portal. This specific form can be found in the services section of the MCA portal, accessible to applicants who have created an account.

          Spice+ e-form acts as online application for company registration, which is divided into two important parts.

          Part A and Part B

          Part A enables the applicant to legalize the proposed name; meanwhile, part B renders the below-mentioned services:

          Incorporation

          DIN (Director Identification Number) allotmen

          PAN (Permanent Account Number) Allotment

          TAN (Tax Account Number) allotment

          EPFO registration

          ESIC registration

          GSTIN allotmen

          Opening of Bank Account

          GSTIN allotmenProfession Tax registratio
          Spice+ refers to an integrated digital form that renders 10 services by three different ministries operating at the central and state level. This e-form saves time and cost for the applicant and simplifies the registration. Spice+ e-form is introduced by the Government of India given the ongoing initiative Ease of Doing Business (EODB). Ministry of Corporate Affairs usually takes thirty days to grant the certificate of registration from the date of the receipt of the application.

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