INCORPORATION OF PRIVATE LIMITED COMPANY IN INDIA
WHAT IS PRIVATE LIMITED COMPANY
Private Limited Company is the easiest and a very popular norm of Business start-up in India. It can be registered with a minimum of two directors. It is the most recommended type of business entity for millions of small and medium businesses that are family owned or professionally managed.
MINIMUM REQUIREMENTS OF PRIVATE LIMITED COMPANY
- Two adult Directors.
- One of the Directors of a Private Limited Company has to be an Indian Citizen and Indian Resident.
- The other Director(s) can be a Foreign National.
- Two Shareholders.
ONE KEY OF ALL LOCKS
Now a days, Ministry of Corporate Affairs provides us the following registration with the Company Incorporation
- DIN of all directors
- Company Incorporation Certificate
- EPF Number
- ESIC Number
- GST Number
- Opening of Bank Account
BENEFITS OF PRIVATE LIMITED COMPANY
- Separate Legal Entity
A Private Limited Company has its separate legal entity than its Directors. Company and Directors are always considered as different. That means directors has no right and obligation in the assets and liabilities of the Company.
- Easy Change in Directors
Online Filing of DIR- 11 and DIR- 12 is required to change in Directors.
- Easy transfer of Shares
Filing and signing a share transfer form and handing over the buyer of the shares along with share certificate can easily transfer shares.
- PAN Card of Partners
- Aadhar Card of Partners
- Latest Bank Statement/Electricity Bill/ Telephone Bill of Partners
- DL/ Passport/ Votor ID of Partners
- Passport Size Photograph of Partners
- Latest Electricity/ Gas/ Telephone Bill of registered address of LLP
STEPS OF FORMATION
Formation of Private Limited Company is an online process by a new web form called SPICe+
1 Part A: Apply for the Name Reservation of the company in Part A of the form Spice+.
- Part B:In Part B of the Form Spice+, apply for the following services:
- Certificate of Incorporation
- DIN(Director Identification Number)
- Mandatory issue of PAN
- Mandatory issue of TAN
- Mandatory issue ofEPFO registration
- Mandatory issue of ESIC registration
- Mandatory issue of Profession Tax Registration (Maharashtra)
- Mandatory Opening of Bank Account for the Company and
- Allotment of GSTIN(optional)
It will take 3-7 days to complete the process, after getting all the required documents.
Give a chance to our experts to manage your business compliances. For More information kindly contact with us.
Mr. Pankaj Raheja (Tax Advisor)
M/s. PKR Associates
8930084472 / 8447211290