Private Limited Companies is the most common and suitable form of entity for carrying out business in India with a long term objective. A Private Limited Company is Incorporated and Governed by the Indian Companies Act 2013. Private Limited Company is a Purely Separate Legal entity distinct from its members and directors. The business under this structure can be done by making investment through the equity shares in the Company. It has the advantage of limited liability, greater stability and recognition. The Basic Requirement for a private Limited Company in India is to have Minimum Two Directors and Two Shareholders.
These are closely held businesses usually by family, friends and relatives.
Private companies may issue stock and have shareholders Their shares need not be traded on public exchanges and are not required to be issued through an initial public offering.
Shareholders may not be able sell their shares without the agreement of the other agreement of the other
ADVANTAGES OF PRIVATE LIMITED
5-15 days (Subject to ROC Response) after receipt of all the necessary Documents, The breakup of the Number of days is as follows
|Taking Digital Signature of Directors||1-2 Day|
|Taking Directors Identification Number (DIN)||1/2 Day|
|Reservation of the name of the Company||1-3 Days|
|Preparation of other documents such as MOA,AOA, Forms etc||1/2 Days|
|Filling of documents with Authorities||0-1 Day|
|Getting Final Certificate of Incorporation||3-7 Days|
|Total Number of Days||5-15 Days|
INFORMATION REQUIRED WITH REGARD TO THE COMPANY
Unique Director Identification Number(DIN) for Life time.
Digital Signature Certificates (DSC)
Reservation the Name for your Company
Certificate of Incorporation.
Rubber Stamp of the Company
PAN Card of the Company.
Proper Incorporation File
Bank account Opening Documents
Draft Copies of MOA & AOA.
1).What is Private Limited Company?
Answer: A Private Limited Company is incorporated and governed by the Indian Companies Act 2013. Private Limited Companies is the most common and suitable form of entity for carrying out business in India with a long term objective. Private Limited Company is a purely separate legal entity distinct from its members and directors. The business under this structure can be done by making investment through the equity shares in the company. It has the advantage of limited liability, greater stability and recognition. The basic requirement for a private Limited Company in India is to have minimum two directors and two shareholders.
2).What are The Benefits or advantages to work as a private limited company?
Answer: The Private company advantage of limited liability, separate legal entity, greater stability, recognition, continuity of existence, minimum number of shareholders, scope of expansion is higher, easy transferability of ownership, owning property, capacity to sue and be sued and multiple relationship.
3).What is the Procedure to incorporate a company?
Answer:There are two ways of company Incorporation in India.
Through Normal Mode.
Through Fast Approval.(INC-29)
4).What is the Time Frame for Company Incorporation?
Answer:Through Normal Mode. It usually takes 10-15 days after receipt of all the necessary Documents, The breakup of the Number of days is as follows
Through Fast Approval- It Usually Takes 4-5 days after receipt of all the necessary Documents.
5).What are the Charges for Incorporating a Company?
Answer:Fees for the incorporation decide on company capital, state and total number of directors.
6).How many Persons are required to incorporate a company?
Answer: The Minimum number of 2 persons are required to incorporate a company.
Legally minimum 2 directors are required and 2 shareholders are required.
These two persons can act in both capacity as directors and as shareholders.
7).What is the difference between Directors and shareholders?
Answer: In simple words,
Director is the person who takes the responsibility to run the business and manages the day to day business of the company. Generally are the managers or agents of the actual owners of the company who act in fiduciary (trustworthy) position. Only individual persons can become directors.
Shareholders are the owners of the company who invest their monies in the company. Shareholders get part in the profits of the company in the form of dividend. They aren't responsible for the day-to-day management of the company, but they do have voting rights with which they can affect the decisions of the company. Any individual, company or other entity can become shareholder.
8).What is DIN?
Answer: Director Identification Number (DIN) is a unique identification number for an existing director or a person intending to become the director of a company. it is valid for the lifetime.
9).What is DSC?
Answer:Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Certificates serve as proof of identity of an individual for a certain purpose. A digital signature certificate can be presented electronically to prove your identity, to access information or services on the Internet or to sign certain documents digitally. Its valid for maximum 2 years.
10).What is the validity of Certificate of Incorporation Issued by the ROC?
Answer: Once a Certificate of Incorporation is issued by the ROC, it is valid for the lifetime of the company unless it goes for winding up.
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