Registration

Private Limited Company Registration

Private Limited Company registration is the most popular legal structure option for businesses in India. A private limited company can have a minimum of two members and a maximum of fifty members. The directors of a private limited company have limited liability to creditors. In a case of default, banks/creditors can only sell company's assets but not personal assets of directors. If you want to start a company in India then make sure your company is registered as Company Registration should be your first priority. It is very important to register your company as a registered company have multiple advantages from easy to register to easy to dissolve.

Start-ups and growing companies prefer private limited company as it allows outside funding to be raised easily, limits the liabilities of its shareholders and enables them to offer employee stock options to pull in top talent.

If you want to register your own company then you can totally rely on us. We will help you with company formation procedure and new company formations procedure. 

Private Limited Company Benefits

• It is flexible and has limited liability
• Greater capital contribution and greater stability
• Possibility to grow big and expant

Advantages Of Private Limited Company?

• Preferred by banks, VCs & investors.
• Easy to allocate and redistribute shares to investors or other directors.
• Separate legal entity which limits your liability.
• Offers the flexibility of a partnership firm and the advantages of a Public Ltd Company.
• Easy to register, manage & run.
• Easy to dissolve or wind-up.

Partnership Registration

A Partnership is a business structure in which two or more individuals manage and operate a business in accordance with the terms and goals set out in the Partnership Deed. Partnership registration is relatively easy and is prevalent among small and medium sized businesses in the unorganized sectors.  

For Partnership Registration, you must agree on a firm name and then establish a partnership deed. It is a document stating respective rights and obligations of the partners and to be valid it should be written and not oral. The terms of the Partnership Deed can be varied to suit the interests of the partners and can even be made contrary to the Indian Partnership Act, 1932 but if the Partnership Deed is silent on any point, then the provisions of the Act would apply.

Choose Partnership because

• Partnership registration is very easy.
• Partnership registration is inexpensive as compared to LLP.
• It has minimum compliance requirement.

LLP Registration

LLP was launched in India by way of the Limited Liability Partnership Act, 2008. The main edge of a Limited Liability Partnership is one partner is not liable for another partner's misconduct or negligence. LLP is favoured by Professionals, Micro and Small businesses that are family-owned or closely-held.

Limited Liability partnership offers the benefit of limited liability to its owners and at the same time needs minimal maintenance. The owners of a private limited company have limited liability to creditors. In case of default, banks/creditors can only sell the company's assets and not the personal assets of directors.

An LLP also gives limited liability protection for the owners from the debts of the LLP. Accordingly, all partners in an LLP enjoy a kind of limited liability protection for every individual's protection within the partnership, related to that of the shareholders of a private limited company. 

Choose LLP because

• Dual advantages- Company and a Partnership
• No partner will be responsible for other partner's misconduct
• Cheaper to incorporate than a private limited company
• Limits the liabilities of its partners

Sole Proprietorship Registration

A Sole proprietorship is a business which is owned, managed and controlled by a single person. It is one of the most common form of business in India, utilized by small businesses operating in the unorganized sectors.

Proprietorship is recognized by other registrations, such as a service or sales tax registration. It has too many shortcomings, such as unlimited liability of proprietor, and it does not have continuous existence. For these reasons it is considered by small merchants and traders as a business structure.

Choose proprietorship because

• A sole Proprietorship is cheaper as compared to OPC.
• A proprietorship with income of less than Rs. 2 Lakhs per annum is not required to pay income tax.
• Easy to establish with less formalities.

 One Person Company Registration

An OPC is the most modern form of business in India proposed by the Companies Act, 2013 and understand for a-One Person Company.

A forward-thinking idea was launched which promotes the incorporation of micro-businesses and persons with entrepreneurial ideas and to give a boost to entrepreneurs who have high potential to begin their venture by permitting them to build a single person company.

You can easily register one person company under the outlines of the companies Act 2013 and the laws thereto, where it was made viable for a single person company to work as a company without the complexity of having partners. This encourages more people to come forward to commence a business. The OPC is fit for small businesses where the turnover is not likely to cross Rs. 2 Crores. IN OPC Registration it's important to note that the nominee or the director should be Indian Resident.

One Person Companies are benefiting largely in developing the overall economy of India. More and more Entrepreneurs are coming up and commencing their business. By incorporation of OPC, the company can enjoy the benefits in banking point and are eligible for Banking loans, credits. So, if you want to start up your own business, you don't have to worry about all the network and slow processes.

Choose OPC because

The following is the eligibility guidelines for OPC Registration in India.

• Can have more than 1 directors, but the shareholder cannot be more than 1.
• Not affected by the death of a member or shift in ownership.
• Effortless to set up and maintain comparatively.
• Restricts the liabilities of its members
• Minimum Paperwork is needed.
• Can work as Stockbroker or Sub-broker
• Not multiple compliances
• No interference from any third party is seen
• Even no person is permitted to incorporate more than 1 one-person company.

IEC Registration

TAN Number is a 10 Digit Alphanumeric Number abbreviation used for Tax Deduction and Collection Account Number. Every Assessee liable to deduct TDS is required to apply for TAN and shall quote this number in all TDS Returns,TDS payments and any other communications regarding TDS with Income Ta Department.

Failure to do so may attract a heavy penalty of up to Rs.10,000. 

Professional Tax Registration

Professional Tax is the tax levied by the various State Governments of India on salaried individuals working in government or non-government entities, or in practice of any profession, such as CAs, Lawyers, Doctors, etc. or carry out some form of business, are required to pay this professional tax.

Professional tax is imposed at the state level in India. Different states have different rates and methods of collection. It is not imposed in all states. The states which impose professional tax are Andhra Pradesh, Assam, Chhattisgarh, Gujarat, Karnataka, Kerala, Maharashtra, Madhya Pradesh, Meghalaya, Odisha, Sikkim, Tamil Nadu, Telangana, Tripura, and West Bengal. Professional Tax is deducted from the salary of the salaried employees by the employers and same is deposited with the State Government.

Employees Provident Fund

EPF is one of the main platform of savings in India for nearly all people working in Government, Private or Public sector organizations. It is implemented by the Employees Provident Fund Organization (EPFO) of India. 

Companies which have employee strength of 20 or more are required to be registered with PF Department. The capacity of 20 includes contract employees like housekeeping, security or other contractual workers in the business. Those companies which do not have the endorsed number of employees but willing to register themselves to provide the advantages of Provident Fund to their employees can register voluntarily with the Regional Provident Fund Office. Registration has to be done within One month from the date of hiring 20 employees. Any delay may result in a penalty. 

Employee State Insurance (ESI) Registration

Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, free supply of physical aids etc. to the employees and their family.

Units or Establishments that have 10 or more employees, drawing the wages of up to Rs.15,000 a month are required to be registered for ESIC under the ESI Act 1948. The benefits provided by the scheme are funded from the contributions raised from covered employees and their employers at the fixed percentage of wages. At present, covered employees contribute 1.75% of the wages to the ESIC and covered employers contribute 4.75% of the wages, payable to their employees. The state government also contribute 1/8th share cost of medical benefit.

All Establishments and Factories employing more than 10 employees are required to mandatorily apply for ESI registration within 15 days of the ESI Act, 1948 becoming applicable to them. 

Choose ESI Registration because :

• Provides complete medical care to employees
• Includes employee's dependants also
• Mandatory for units with >10 employees