If you own a private limited company in India, registering it is important. When you register your company you are eligible to get benefits from the government. There is a process to follow to register a company and a few requirements must be fulfilled.
The private limited companies are governed by the Companies Act, 2013 where the limit of the number of members was increased from 50 to 200. To register the company you have to write an application to the Registrar of Companies where the registered office is located.
The rules for registering a private limited company in India are as follows:
• The company’s proposed name should not be prohibited by any law in force. You can file an e-form with the Ministry of Corporate Affairs to find out if the name is available. The name of your company should end with Pvt. Ltd. If the name is rejected then you will have to apply again.
• The minimum paid-up capital for a private limited company should not be less than 1 lakh. The minimum number of shareholders required for a private limited company is 2 and the maximum is 200. The shareholders of the company can also be the directors of the company.
• The directors of the company are required to file a Memorandum of Association (MOA) which should include the following:
- The name of the company along with the suffix Pvt. Ltd.
- The object of carrying on business activities and the activities that the company will be undertaking.
- The registered address of the office where the main activity of the business or business will be carried out.
- The paid-up capital of the company and information about the promoters or directors of the company. One of the directors has to be an Indian resident. All the directors should have the DIN (Director Identification Number). At least 2 promoters and 1 witness should have a DSC (Digital Signature Certificate).
• The Article of Association (AOA) should state the directors of the company and how the activities of the company will be carried out. It should state how the company will be managed internally and the restrictions placed on the powers of the directors and the members of the company.
• Any agreement entered regarding the appointment of directors and other information.
• The requisite Stamp Dusty has to be paid on MOA and AOA.
• The registration fee has to be paid for the form, MOA and AOA. The form has to be filed stating the compliance with the legal requirements as per the Act.
• If the registrar is satisfied with the conditions stated for the registration of the company then the registrar will issue a Certificate of Incorporation.
• The company is prohibited from inviting any members of the general public for a prescription to any shares or debentures.
These are the main requirements for registering a company in India. Some companies provide services online for company registration in India. You need not worry about any forms or applications, the company’s experts will take care of everything. You just have to fill in a form online to begin the process. The company will contact you and complete all the legalities. Your company will be registered within 15 days. The service is available online and you can access it from anywhere.
The company offers you services like DIN, DCS, making MOA and AOA, company PAN card, company TAN/TDS, PF and ESIC and customised incorporation master file. You can also get a domain, web hosting and email IDs for 1 year and bank account opening support. You will also get the Incorporation Certificate.
DIN and DSC
A Digital Identification Number (DIN) is a unique number given to the proposed director of the incorporating company. Unless a person has a DIN he/she cannot be appointed as the director of a company. You can apply for a DIN through an integrated application INC-29 or an individual application DiR-3. If you are registering your private limited company then you will have to apply for a DIN.
As per the Information Technology Act, of 2000, you can get digital signatures based on asymmetric cryptosystems. Electronic documents that have DSC are treated at par with paper documents. This is required because the e-forms have to be signed digitally.
Santosh Kumar is a Professional SEO and Blogger, With the help of this blog he is trying to share top 10 lists, facts, entertainment news from India and all around the world.