Private Limited Company Registration
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Private Limited Company Registration
Private Limited Company Registration
If you are willing to commence a company in India then Private limited company registration is the most suitable form of online company registration in India. Private Limited Company Registration in India is a quick and easy online company registration process with fewer formalities. Every start-up or developing business favours online company registration as it offers multiple benefits like legal certification, easy fund raising, restricts the liability of its shareholders and much more. Private limited company registration is governed by Company Act 2013 along with Companies Incorporation rules 2014. Apply online company registration at LegalPillers as they will not only provide you the registration of PVT LTD company in India, But also they will completely guide you through the Meaning of Company Registration, Requirements of Company Registration, Online Company Registration Process, Documents required for Pvt. ltd company, Benefits of Choosing a private limited company and much more.
Right Structure of Private Limited Company Registration
As the name suggests “Private” the company is privately held, it is also named as “Pvt. Ltd Company”. The Private Limited Company Registration has a minimum of 2 members and a maximum of 200 members. A Private Limited Company Registration is a separate legal entity with an advantage of limited liability for its shareholders. Do search CA Near Me service provided by LegalPillers for better execution of your plan.
Private limited company registration is popular for its legal structure. The Private Limited Company Registration is easy and simple to do if you apply online. All partners in Private Limited Company Registration have limited liability to creditors. In case of any loss or defaults, the bank or creditors can sell the company’s assets but not the personal assets of the owners.
The most significant benefit for the members of the Pvt. Ltd Company Registration Online is the liability is limited to the number of shares respectively held by its partners. The shares of the Pvt. Ltd Registration is not allowed to be publicly traded. Limited liability is the biggest protection for the owners. In case of loss or profit, the limited liabilities protect their ways. Personal assets are always secure in case of any loss or misconduct. As the name suggests "Private" or "Pvt Ltd Company" the company is privately held. From 2 to 200 Members can incorporate a private limited company. For those who don't know, Private limited company is a separate legal entity with an advantage of limited liability for its shareholders.
Pvt Ltd Company Registration is well known for its legal structure. At LegalPillers, You can also apply for PVT LTD Company Registration online. All partners in Private Limited Company have limited liability to creditors. In case of any loss or defaults, the bank or creditors can sell the company's assets. They can't sell the assets of the owners which is also one of the popular benefits of Pvt Ltd Registration of Company in India. The most significant benefit for the members of PVT LTD Company is that liability is limited to the number of shares respectively held by its partners. Public trading of the shares of a private limited firm/ Pvt. Ltd Registration is restricted by the same act under which all private limited company registration is done.
In case of Loss or Profit, the limited liability proves itself as a topmost protection layer for the owners of the Private Limited Registration. It must be noted that you should take all these kinds of advisory from an income tax consultant or CA near me provided by LegalPillers.
Pvt Ltd Company can be incorporated online through LegalPillers.
Eligibility Criteria for Registration of Company in India
PVT LTD Company registration is an easy and quick process. Although there are some eligibility guidelines one must adhere. So let's have a clear view on them on Private Limited Registration.
- Any individual can apply for company registration above 18 years
- At least 2 Shareholders required for Pvt. Ltd Company Registration in India
- Minimum 2 Directors for Online Private Limited Company Registration
- At least Rs.1 Lakh Capital to Registration of Private Limited Company, not mandatory
- DPIN, DSC for all the Directors
- At least one Director must be an Indian Resident for Register Pvt. Ltd Company Online
So, do fulfil all the requirements and then apply for company registration.
Services will get with Private Limited Registration
As you can go through the review, at LegalPillers we take care of the complete Pre / Post Company Registration Process/ Private Limited Company Registration Process. For getting proper assistance you can find our CA Near Me service also. We also provide some complementary services along with PVT LTD Company Registration in India.
Benefits of PVT LTD Company Registration in India
At LegalPillers, we give a virtual tour of benefits you will avail after Private Limited Company Registration.
- 1) Legal Entity:
The Company registration is made under the Companies Act, 2013 & Companies Incorporation Rules. According to the provisions the PVT ltd Companies are separate legal entities. This infers that the Private Limited Company Registration will be liable for managing assets and its creditors.
- 2) Raising Capital:
Moreover, register Pvt. ltd Company comes with agreement provisions. Business people get benefits to raise funds by equity. Plus, increase and at the same time limit the liability. This is the unique feature of Pvt. Ltd Company Registration Online.
- 3) The limited risk to personal assets:
The company will remain in the long-run. It will not dissolve in any case. There is no option for shareholders to sell their shares with the public. Likewise, shares cannot be exchanged on a public stock exchange as there is a restricted amount of shareholders. The shareholders have limited liabilities. The shareholder will pay from the company’s assets and cannot sell personal assets in Pvt. Ltd Registration.
- 4) Legality Protection:
All companies in India register with ROC (Registrar of Companies) Act rules and regulations. The company registered office is available in all states Like Delhi, Mumbai, Chennai, Kolkata, etc. Online formation of Private Limited Registration is a better option as they work on easing your process. Anyone can check all details by MCA for Online Private Limited Company Registration.
- 5) Continue Existence
A Private Limited Company Registration has ‘regular succession’, that is continued or constant existence until it is legally separated. A company, being a separate legal person, not gets affected by the death or end of any member but remains to be in survival irrespective of the changes in membership.
Additional Features in Private Limited as compare to other registration
|No.||Basis of Difference||Private limited company||Other Registration|
|Meaning||Pvt limited company is a small business entity. It’s a type of privately held small business entity.||A limited liability partnership is a partnership where all partners have limited liabilities. In an LLP, every partner is not liable for another partner’s carelessness.|
|Liability||Limited to the extent of share capital best in terms of liabilities||As the name suggests limited liability|
|Foreign ownership||Allowed by permission from RBI||LLP is eligible to get foreign participation|
|Legal Protection||It follows the rules and regulations of ROC (Registrar of Companies).||It is also register with MCA having certian limited features|
Documents Required for PVT LTD Company Registration
Documents and information needed for the registration of Private Limited Company you require to give the following mentioned documents:
- Share capital amount and recommended ratio for holding a share
- A brief description of the company and the business.
- Name of the city where the registered office of the company is located. ( Delhi, Kolkata, Chennai, Mumbai)
- Ownership and sale deed (In case your own premise).
- The ID Proof of the Directors and Shareholders (PAN Card).
- Address proof of the registered office like Electricity bill, telephone bill, etc.
- Address proof of the all Shareholder i.e. Voter ID, Passport, Driving license, etc
- The email address of the directors and shareholders.
- 2 Passport size photos of directors & shareholders.
- NOC of Landlord in case of Rented Property
- Passport in case NRI director or shareholder
All of the above are main and important Pvt. Ltd Registration documents. But there are some forms that need to be filled up before submission of documents to the Registrar for Register Pvt. Ltd Company Online.
Process of Registration of Company in India
After reviewing the benefits you've to select a name for your organization. Here is a step by step guide for Registration of Company Process. Private Limited Company Registration Process is much easy which can be understand as-
- Step 1: Apply for Digital Signature Certificate (DSC)
The first step to register a company is applying for DSC (Digital signature) which is mandatory for filling the online registration form. There are so many Certifying Authorities which are providing Digital Signature Certificate Services in India such as e-mudra, Capricorn, Vsign etc for the purpose of Online Private Limited Company Registration.
- Step 2: Apply for the name availability
You need to give 2 separate options for your company name to MCA of which one will be chosen. Names given must ideally be different and suggestive of company business. Also, make sure you write "PVT Ltd" at the end of the company name. Run form introduced by MCA there are two attempts for application of name reservation. So use our portal for checking the company name availability and submit carefully.
- Step 3: File the MOA and AOA to register PVT Company
Once the name is approved in the ROC office. One must draft Memorandum of association and Articles of Associate electronically. Both MOA and AOA are filed with the MCA with the subscription statement. These forms are important to clarify the process of company registration in India. Memorandum describes the agreement of the company while articles of association include the privacy rules and regulations of the company. These form files online on the MCA portal along with linking form with SPICe (INC-32).
- Step 4: Certificate of incorporation
When all the documents and forms are filled and submitted. Wait for 7- 8 days to form a Private limited company. You will get the incorporation certificate. Incorporation certification is confirmation that the company is legal and can work smoothly. It also involves your CIN number. This even implies you are enrolling with MCA registration. You can check your name details with MCA for Registration of Private Limited Company.
- Step 5: Open a current bank account on the company name & receipt of PAN & TAN
After getting the certificate of incorporation. NSDL will also issue companies PAN and TAN Certificates. In this application you will also get PF Registration, ESI Registration, Professional Tax registration(if applicable) After receiving all certificates immediately apply to open your bank account in the company’s name. Pvt. ltd company registration online, one must follow simple 5 steps. And while selecting a company it's important to check its availability.
Points to Consider in name while Registration of Business
The name of your company is very valuable. It is the first impact to your buyers, suppliers, and stakeholders. Therefore pick relevant, indicative and attractive names. There are several factors that you must keep in mind while naming for your company.
- Short & Simple
The name must be 1-6 words not to be too long. People feel ease in announcing. Plus, people pick such names that are easy to remember, hear and read. Don’t forget to add “PVT LTD” in the last of the names.
The name of your company should have meaning and relate to your business. For Lakme, it refers to cosmetic services.
Pick the names which are not the same and identical. Plus, never have existed before. Check the name availability at our portal. Try to neglect plurals in your company name like Starbucks. Starbucks is already a coffee Private Limited Company Registration.
The name of your company must end with the suffix “Private Ltd” in the case of a Private limited company. So, never forget to apply “PVT LTD”.
- Never use illegal/offensive
The name of your company never goes against the law. It cannot be offensive or against the cultures and beliefs of any religion.
Compliance on Post Company Registration Requirements
Here is a list of some of the Compliances that we are providing after the Pvt ltd firm registration/ Private Limited Registration.
- Appointment of Auditor
Just within the 1 month of registration Auditor must be appointed. Post-appointment, an extraordinary general meeting of shareholders is called to declare the appointment of the auditor.
- Convening of 1st board meeting
The board meeting is conducted every 120 days or less. The 1st meeting is major to post-incorporation for discussing the various provisions of Company Act after Online Private Limited Company Registration.
- Disclosure of interest by directors
Every director has to reveal his concerns and interests directly or indirectly by a contract or agreement. The proposed contract is determined in the first meeting of the board of directors. Any change in the concern of the director must be inferred to the board of directors within 30 days after Private Limited Company Registration Process.
- Developing of Accounting System for the company
Books of accounts are mandatory along with financial statements at the registered office. The double-entry bookkeeping is followed and records of the same are preserved for at least 8 years. After Pvt. Ltd Company Registration in India our Income Tax Consultants will consult you regarding all other post compliance aspects.
- Obtain registration under Shops and Establishment Act
After the incorporation and MCA Registration may get under the laws of shops and establishment within the 30 days after register a company Issuance of share certificate in 60 days: The share certificate is given in 60 days of becoming a shareholder after by the board of directors. In case any assistance is required for shop act registration you may connect to our Income tax consultant also or you may get CA near me service provided by LegalPIllers.
How we help in Registration of Company in India
Registration of the company process takes 7 to 8 working days. PVT LTD company registration online is an easier process for registration of company India. At LegalPillers we provide the best-in-class CA near me for registration of companies in India as well as for GST Returns and Income tax returns and so on. We always believe in offering customer stratification. Moreover, simplifying the process of registration for our customers. You can apply today for complete company registration as well as CA services. You can contact us at 9625279785 -9267941961. You can also write at [email protected].
Frequently Asked Questions
- Apply for DSC, DIN & DPIN
- Name Approval Application
- E- MOA & AOA form completion
- Incorporation certificate
- Apply for PAN & TAN
- Open a Bank account
- Copy of PAN Card of directors
- Passport size photograph of directors
- Copy of Rent agreement (If rented property)
- Electricity/ Water bill (Business Place)
- Copy of Property papers(If owned property)
- Landlord NOC (Format will be provided)
- Pvt. Ltd company needs a few more ROC compliances translating into an additional cost of 5000 to 10000/annum.
- Minimum capital wanted is Rs.1,00,000
- A private limited company can have a maximum of 200 members.
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