Easily Start a Producer Company
Complete solution for starting a Producer Company with a minimum of ten producers,
including incorporation of company as producer company.
A Producer’s Co-operative is typically operated by farmer in order to process and market their goods as well as to acquire credit, equipment and production supplies. The concept allows farmer co-operative to operate as a corporate entity under the ministry of corporate affairs it enable incorporation of co-operative as companies and conversion of existing co-operative in to company example AMUL BUTTER. Only a ‘Primary producer’ can become shareholders in the producers company i.e those who are engaged in primary production.
If you want to Register your Producer Company than Taxease.co will help you in Registration and in all the Compliance after Registration.
It Cover activities such as
Animal husbandry: breeding or caring of animals in the farm.
Horticulture: Producing, growing plants, fruits or vegetable.
Floriculture: Growing flowers
Pisciculture: Fish Farming
Viticulture: Producing grapes
Foresting: Preserving Forest
Re-vegetation land: Re-building or re-planting distributed land
Bee liaising: keep bees to collect honey
Area of operation is not restricted as compare to co-operative society and it has lesser government intervention in producer company are more preferred.
Analysis on Producer Company
Producer Companies are Private Limited Company. It can become public or deemed Public Limited Company.
Ownership and membership are primary producer
The area of producer company operation is the entire country.
Minimum paid up capital is 5 lakh
It required 10 or more producer (individual) or 2 or more producer institutions or combination of the above two (10+2)
Every producer shall have at least 5 directors but not more than 15 directors ,a full time CEO should be appoint by the board.
Every producer company has to maintain a general reserve in every financial year and if any shortfall occurs members contribution is required in proportion to their Sponsorship in the business.
Producer Company has goodness of a co-operative enterprises and efficiency of a company.
Producer company can take the advantage of various central and state government scheme like “ National food security mission, Rastriya Krishi Vikas Yojana funds and so on.
Conversion is not possible in to any other business structure.
Producer Company shall have words “Producer Company Limited” at the end of its name.
One man one vote only
ADVANTAGES OF PRODUCER COMPANY
Death and insolvency of any of the member does not affect the continuity of the company. Thus the life of its members does not affect the company. Person can become member or even can leave the organization. Transfer of share can not affect the company.
Legal separate entity
Producer Company is an artificial distint Entity so it is separated by law from its owner. In case of Sole Proprietorship business comes to wound up in case of death of the owner unlike Producer Company.
The liability of the shareholder is limited upto unpaid subscription money in his name and the personal Asset does not get affected by it unlike Sole proprietor or Partnership Firm.
Producer Company is the Hybrid form of the Co-operative Society and Corporate Entity.
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