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Farmer Producer Organization (FPO Registration) - Process, Fees, Documents Required
Updated on Feb 11, 2024 10:39:28 AM
The Indian economy relies heavily on agriculture, which serves as the primary source of livelihood for a significant portion of the population, employing over 50% of the workforce. However, many producers and farmers face challenges in the agricultural process, lacking access to technology, knowledge, and financial resources. In response to this issue, the concept of Producer Companies was introduced in 2002 to support and enhance the lives of farmers and producers.
What is a Producer Company?
A Producer Company is a corporate entity formed by producers, farmers, and agriculturists with the aim of facilitating procurement, production, harvesting, grading, pooling, handling, marketing, selling, or export of their members’ products, as well as importing goods and services for their benefit.
In simpler terms, this company type is established to enhance the livelihoods of individuals involved in the agriculture industry by providing them access to technology, markets, credit, and other resources.
Registered as a public company under the Companies Act, 2013, a Producer Company must include “Producer Company Limited” as the last words of its name.
The objectives of a Producer Company, as outlined in Section 581B of the law, include:
- Production, harvesting, procurement, grading, pooling, handling, marketing, selling, or export of primary produce of the Members, or importing goods or services for their benefit.
- Processing, including preserving, drying, distilling, brewing, vinting, canning, and packaging of produce of its Members.
- Manufacturing, sale, or supply of machinery, equipment, or consumables mainly to its Members.
- Providing education on mutual assistance principles to its Members and others.
- Rendering technical services, consultancy services, training, research and development, and other activities for the promotion of its Members’ interests.
- Generation, transmission, and distribution of power, revitalization of land and water resources, their use, conservation, and communications related to primary produce.
- Insurance of producers or their primary produce.
- Promoting techniques of mutuality and mutual assistance.
- Welfare measures or facilities for the benefit of Members as decided by the Board.
- Any other activity ancillary or incidental to those mentioned above or other activities that promote the principles of mutuality and mutual assistance among the Members in any manner.
- Financing of procurement, processing, marketing, or other activities specified above, including extending credit facilities or other financial services to its Members.
Process of Producer Company registration
Producer Company registration is a complete digital process and therefore requirement of Digital Signature Certificate is a mandatory criteria. Directors as well as subscribers to the memorandum of the company need to apply for a DSC from the certified agencies. Obtaining a DSC is a complete online process and it can be done within 24 hours. This process involves 3 simple verifications that are document verification, video verification and phone verification.
Name application for Producer Company can be done through SPICe RUN form which is a part of SPICe+ form. While making the name application of the company, industrial activity code as well as object clause of the company has to be defined.
Post name approval, details with respect to registration of the company has to be drafted in the SPICe+ form. It is a simplified proforma for incorporating a company electronically. The details in the form are as follows:
- Details of the company
- Details of members and subscribers
- Application for Director Identification Number (DIN)
- Application for PAN and TAN
- Declaration by directors and subscribers
- Declaration & certification by professional
SPICe e-MoA and e-AoA are the linked forms which have to be drafted at the time of application for company registration.
Memorandum of Association (MOA) is defined under section 2(56) of the Companies Act 2013. It is the foundation on which the company is built. It defines the constitution, powers and objects of the company.
The Articles of Association (AOA) is defined under section 2(5) of the Companies Act. It details all the rules and regulations relating to the management of the company.
Post approval of the above mentioned documents from the Ministry of Corporate Affairs; PAN, TAN & Certificate of Incorporation will be issued from the concerned department. Now, the company is required to open a current bank account by using these documents. You can contact us for assistance with your current bank account opening.
Farmer Producer Company Registration Fees
| Steps | Cost (Rs.) |
|---|---|
| Digital Signature Certificate | ₹8,000 |
| Government Fee | ₹6,000 |
| Professional Fee | ₹3,999 |
| Total Cost | ₹17,999* |
*Important Note: The total incorporation fees of a Farmer Producer Company varies from state to state. Refer to the map for state-wise prices.
Documents required for Public Limited Company registration
- Passport size photographs of the members
- Copy of PAN Card of the members
- Copy of Aadhar Card or Voter ID
- Bank statement (not older than two months)
- Proof of registered place of business like utility bill
- No Objection Certificate from the owner of the property
Documents you’ll get after company registration
Post incorporation of Producer Company, you’ll receive the following documents:
- Certificate of Incorporation
- Permanent Account Number (PAN) of the company
- Tax Deduction or Collection Account Number (TAN) of the company
- Articles of Association (AoA)
- Memorandum of Association (MoA)
- Director Identification Number (DIN)
- Digital Signature Certificate (DSC)
- EPF and ESIC registration documents
- Company Master data
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