Call Now! +91 82903 51150

Follow Us:

0
  • No products in the cart.
mobile-logo
 

Private Limited Company

Overview

A Private limited company offers liability and legal protection to its shareholders. a private limited company is in between a partnership firm and a widely owned public company. It is registered with a minimum of two people. A Person can together be a director and shareholder in a Private limited company.

 

A private limited company can start functioning after getting the Certificate of Incorporation. A PLC will be incorporated within 15 working days. Incorporating a private limited company is an online process and even easier now.

Comparison between Private Limited Company & Limited Liability Partnership

Basis For Comparison Private Limited Company Limited Liability Partnership
Law Applicable
Companies Act 2013
Limited Liability Partnership Act, 2008
Minimum share capital
No requirement for minimum share capital.
No requirement for minimum share capital
Members Required
Minimum two Maximum 200
Minimum two Maximum no limit
Directors required
Minimum two Maximum 15
Two designated partners Maximum not applicable
Board meeting
Within 120 days of the previous board meeting. Minimum 4 board meetings to be held each year.
Not necessary
Statutory Audit
Mandatory
Not compulsory unless partner’s contribution exceeds 25 lakhs or annual turnover exceeds 40 lakhs
Annual Filing
Annual statement of accounts & annual return with ROC. These are filed in form AOC 4 and MGT 7
Annual accounts and Annual returns to be filed with RoC.. These returns are filed in LLP form 8 and LLP form 11
Compliance
High
Low
Liability
Limited
Limited
Transferability of shares
Can be transferred easily. It can only be restricted by Article of association.
Can be transferred by executing agreement before a notary public
Foreign Direct Investment
Eligible via automatic and government route
Eligible via automatic route
Suitable to which type
Businesses having turnover, entrepreneurs who need external funding
Startups , Business, trade, manufacturers etc
Company Name
Should end with Pvt. Ltd
Should end with LLP

Our Process

Estimated time to complete the process – 10-11 working days

Step 1

Initial Discussion & collection of Basic information

Step 2

Apply to Name Availability of the proposed Pvt Ltd Company

Step 3

Collection & Verification of Documents

Step 4

Apply for Digital Signature Certificate (DSC)

Step 5

Drafting MOA ,AOA & other Documents

Step 6

Submission of Forms With the ROC along with Din Application

Step 7

Issuance of Certificate of Incorporation

Step 8

Application for PAN & TAN

Step 9

Dispatch of deliverables.

Choose Your Package

All Inclusive Pricing – No Hidden Fee

  • Basic
    • ₹ 8000
      • 2 DSC (Digital Signature) For Director
      • 2 DIN for Director's
      • Name Approval for Company
      • MOA & AOA Drafting
      • PAN & TAN Card of Company
      • Certificate of Incorporation
      • Bank Account Opening Support
      • Stamp Duty & Registration Charges*
      • Incorporation Fees
      • GST Registration
      • Commencement of Business
      • INR 1 Lakh Authorized Capital
      • 1 Month GST Return Filing
    • Purchase Now
  • Premium
    • ₹ 13500
      • 2 DSC (Digital Signature) For Director
      • 2 DIN for Director's
      • Name Approval for Company
      • MOA & AOA Drafting
      • PAN & TAN Card of Company
      • Certificate of Incorporation
      • Bank Account Opening Support
      • Stamp Duty & Registration Charges*
      • Incorporation Fees
      • GST Registration
      • Commencement of Business
      • INR 1 Lakh Authorized Capital
      • E Way Bill Portal Registration
      • Accounting Software
      • MSME Registration
      • Auditor Appoitment Assistance
      • Commencement of Business
      • INR 1 Lakh Authorized Capital
      • PF & ESIC Registration
      • Professional Tax Registration
      • 3 Month Gst Return Filing
    • Purchase Now
  • Ultimate
    • ₹ 22500
      • 2 DSC (Digital Signature) For Director
      • 2 DIN for Director's
      • Name Approval for Company
      • MOA & AOA Drafting
      • PAN & TAN Card of Company
      • Certificate of Incorporation
      • Bank Account Opening Support
      • Stamp Duty & Registration Charges*
      • Incorporation Fees
      • GST Registration
      • Commencement of Business
      • INR 1 Lakh Authorized Capital
      • E Way Bill Portal Registration
      • Accounting Software
      • MSME Registration
      • Auditor Appoitment Assistance
      • Commencement of Business
      • INR 1 Lakh Authorized Capital
      • PF & ESIC Registration
      • Professional Tax Registration
      • 1 Year GST Return Filing
      • Income Tax Return Filing
      • 1 Year Company Roc Filling
    • Purchase Now

Note

  1. Stamp duty upto 1 Lakh Authrorized Capital Covered above, if Capital Increase the duty raise on actual Basis.
  2. In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7500 will be applicable. In case of incorporation in Punjab an additional stamp duty of Rs.10, 000 will be applicable. In case of Kerala, an additional stamp duty of Rs.3000 will be applicable.
  3. Cost of 2 Director’s covered above, If No. of Director’s more than 2 then Cost of DSC and Din Application Increase By 1500 Rs Per Director.

Benefits

No Minimum Capital

No minimum capital is required to make a private limited company. a private limited company can be submitted with a minimal amount of Rs. 10,000 as total Authorized Share capital.

Limited Liability

If the company undergoes financial distress due to whatsoever reasons, the personal assets of members won't be used to pay the debts of the company because the Liability of the person is restricted.

Fund Raising

A Private limited company in India is the only sort of business apart from Public Limited Companies that will raise funds from Venture Capitalists or Angel investors.

Builds Credibility

The aspects of the company are accessible on a public database. This enhances the credibility of the company because it makes it easy to authenticate the small print.

Documents Required

Identity and Address Proof

Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)

Scanned copy of Voter’s ID/Passport/Driver’s License

Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill.

Scanned passport-sized photograph specimen signature (blank document with signature [directors only])

Registered Office Proof

Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill

Scanned copy of Notarized rental agreement in English

Scanned copy of No-objection certificate from the property owner.

Scanned copy of sale deed/property deed in English (in case of owned property)

Clear All Your Doubts !

How many directors are required in a Private Limited Company?

A Private limited company must have a minimum of two Directors and may have up to a maximum of fifty Directors. But if you're a sole owner, you'll incorporate an OPC as well.

I wish to start out my business but I'm confused between Private limited company and LLP, what should I select?

Pvt. Ltd. Co. and LLP have a lot of similarities yet they both are different in many of their characteristics and structures. once you wish to start out your business, there are many  factors that one must believe before selecting any business structure. However, before selecting any business structure, you'll ask LLP vs Pvt Ltd- A comparison between two important forms of organization in India

How long will it take to incorporate a company in India?

It generally takes 8-10 working days to register a private limited company in India. The time is taken for registration totally depends on the submission of relevant documents by the client and therefore the speed of Government Approvals. to make sure quick and speedy registration, choose a unique name for your Company. The registration fees for the incorporation is included within the package offered to you.

What is the minimum turnover and capital required for Pvt Ltd Company in India?

There exists no bar on turnover or capital in a private limited company, unlike One person Company.

How can i register an Indian Company?

Incorporating a company through Simplified Performa for Incorporating Company electronically (SPICe plus), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.

Can one person start a Pvt. Ltd. Co. in India?

Minimum two directors are required to incorporate a private limited company. Companies Act, 2013, has introduced the concept of 1 Person Company (OPC) private limited, during which one individual can start a private limited company. Thus, if you propose to incorporate OPC, you'll incorporate it with just one director.

What do you mean by Digital Signature Certificate (DSC)?

The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of the proposed Company. Digital Signature application is to be filed to get a DSC.

Can a foreign national or an NRI be a Director of a private Limited Company?

Yes, a Foreign National or an NRI can become a Director of a private limited company in India after obtaining the Director number (DIN). However, it's going to be noted that at least one Director on the Board of Directors must be a Resident India.

Is a separate commercial office required to register a company ?

No, you can start your private limited company from your own home or a rented place also. In such a case, the home will be treated as the registered office of your company. The only criteria for the same is that a place should be within the territorial boundaries of india.

Can family members be a director or shareholder in a company ?

Yes, your family members like your brother, sister, parents or any relatives can become a part of your company. The following people cannot be a part of the company: minor, criminally prosecuted, unsound mind, declared bankrupt.

Do i have to visit any government authority to register a private limited company ?

No, if you are registering your company with us, then you only need to provide us with the required details, and within a period of 10 to 15 days, we will register your company in india.

Do i have to visit any chartered accountant or company secretary in my area to register a company ?

No, we have a team of professionals that includes chartered account and company secretary who will take care of your registration process. You have to only provide us with the documents as per the list sent by the Book My Consultant  team.

Do i have to visit any chartered accountant or company secretary in my area to register a company ?

No, we have a team of professionals that includes chartered account and company secretary who will take care of your registration process. You have to only provide us with the documents as per the list sent by the legal workmate team.

Can a person incorporate a private limited company even after being employee in another organization ?

Yes, one can incorporate a company even if he/she is an employee of any other organization both private or public. Further, if there are restrictions on not getting in any business by your company then you can appoint another person or relative as the director of the company.

Can a person incorporate a private limited company even after being employee in another organization ?

Yes, one can incorporate a company even if he/she is an employee of any other organization both private or public. Further, if there are restrictions on not getting in any business by your company then you can appoint another person or relative as the director of the company.

Can NRI be the director of the company ?

In the companies act, there are no conditions on residency or citizenship to become a director. Hence, NRIs and foreign nationals can easily start and manage a private limited company in india. The only condition is there should be at least one indian director.

What is dsc (digital signature certificate) ?do i need to deposit the entire share capital immediately once the company is registered ?

No, you only need to open a bank account within 30 days and can deposit paid-up share capital within 180 days. However, you cannot start a business without depositing entire share capital in the company.

Do i need to hire any chartered accountant once the company is registered ?

No, our team takes care of all your after registration compliance work in a trouble-free and smooth manner. Legal workmate provides you with all the mandatory compliance services at reasonable and scalable rates. For compliance work, we have an elite team of practicing professionals with different disciplines are associated with us.

Is it mandatory to have a company's book audited ?

Yes, a private limited company must hire an auditor, irrespective of the business done in the year. In case there is no business done, the auditor is still required to enter and maintain records. An auditor should be appointed within 30 days of incorporation. At legal workmate, our team also assists you with the process of appointing the auditor and maintain your books in a true and fair manner.

Is it mandatory to take gst registration after the companyis registered ?

No, it is not mandatory to obtain gst registration. Gst registration is required only if your turn over exceeds specific limits or you are engaged in making certain types of supply. For more details you can visit our gst registration tab or our knowledge portal.

Can i change the registered office of the company later on ?

Yes, the registered office of the company can be changed any time by filling a simple form with the registrar of the company.

What are mandatory compliances for private limited company ?

A private limited company has to maintain its books of accounts, fill annual roc, income tax form and get its books audited.

Let’s start your business journey with Book My Consultant.

Interested