How To Avail FSSAI License Online Easily?

The Food Standards and Safety Authority of India (FSSAI) is the in charge supreme authority of directing and regulating the food safety. It is mainly responsible for carrying all the Food Business Operators (FBOs) keeping in mind the end goal to get an FSSAI License. The FSSAI issue the food license which is required to ensure the food quality in your business & also for the advantages one from the government.

FSSAI License guarantees the safety and security of food in India. FSSAI is an office under the control of Indian government which is related to the health and family affairs. It has been established under the 2006 Act of food safety & security. It is essentially an association made for ensuring the wellbeing of the general population. It supervises the health of the public in general through this act. The central government selects the chairperson of the FSSAI, among the people who are in the field of home science. It is essential for all the producers, dealers, and restaurants to get this FSSAI License.

How To Apply For FSSAI Registration?

FSSAI has been made for setting down science based standards for food and to regulate their storage, manufacture, distribution, sale & import to guarantee the accessibility & availability of food for human. If you want to apply for FSSAI Registration then have a look on the following procedure:-

• In order to get valid FSSAI License, you must have a personal email id & Mobile Number which is permanent or active,
• You name must be spelled correctly in the application as well as the License,
• Once the submission of application is successful, the system will generate a unique Reference ID for your application.
• Take out the print for “Acknowledgement” & “Online Application Form”,
• Attach the demand draft for paying the fee and attach the required documents,
• After the attachment submit your application to the State Authority or Regional Office of FSSAI.
FSSAI provides three types of license which is generally based on the food business of the applicant and its turnover also:
• Basic License-if the turnover of your food business is less than 12 lakh then Basic FSSAI License is provided.
• State License-If the turnover is between 12 lakh to 20 crore,
• Central License-turnover above 20 crore.

The documents required for FSSAI Registration is a passport size photo of food Business operator (FBO), identity card like Ration Card, PAN card, Passport, Driving License, Aadhaar card, etc. If any applicant has supporting documents such as NOC by panchay at or municipality or Health NOC then they can also submit this.

What Is The Importance Of FSSAI License?

A food license is generally a permit which is a prerequisite for all the business that comes under the category of food related operations. This guarantees the high food quality for the welfare of peoples, if anybody is found not following these rules of government then certain actions are taken against them. Being an entrepreneur, the FSSAI License is an awesome method of promoting your business and the items that you are providing. Peoples have turned out to be educated on the things to maintain a strategic distance from what that can affect their health, they really feel more quiet devouring whatever it is that you are offering. Businesspeople buckle down in order to advance their sale and consequently this license really proves to be useful for any individual who needs a lift in their food business.

Original Source - https://swaritadvisors.com/learning/how-to-avail-fssai-license-online-easily/

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Why NBFC Registration is Required in India?

What is NBFC?

NBFC stands for a non – banking financial company, it’s a company registered under the “companies act 1956”. It involves the principal business of lending the investments in -

1) Stocks

2) Shares

3) Bonds

4) Debentures

5) Or leasing

6) Or insurances

7) Hire purchases

8) Insurance businesses

9) Involvement in chit business on a bigger scale or something involving getting deposits under any agreement or a scheme.

NBFC is under RBI preview and this article shall help you to understand about NBFC registration in India and Its rules and regulations governing the operations.

When can you not do an NBFC Registration?

NBFC is a company that is registered under the company’s act 1956 as stated above, and with the activities similar to the banking system. However, there are few differences, which are as followed:-

1) NBFC unlike a regular bank, can’t accept demand deposits.

2) NBFC also can’t draw a cheque issued on itself.

3) The bank deposits are insured by the credit guarantee corporation and /or deposit insurance.

An NBFC just like any other regular bank apart from the above differences mentioned engage in other businesses like making loans, trading of shares, stocks, bonds, securities and debentures etc. and other mentioned in the 1st list of this article but doesn’t involve into an institution that has principal business with respect to agriculture activity or industrial activity and purchase and sale of any products that’s other than security, also provide services and sales/purchase or construction of non motile property. Also, the company involving principal business of receiving deposits and scheme or arrangement in the instalments by the way of contribution in any manner is also a form of NFBC. NBFC is categorized in taking deposits and not taking of the deposits.

What are the Basic Requirements of NBFC Registration with RBI?

By the sec 45-IA of the RBI act 1934, none of the companies in India are allowed to carry on any business of NBFC institution without the getting a certificate of NBFC Registration and having net owned funds of Rs 2crores. The NBFC registration is required as it incorporates sec-3 of companies act 1956 and having at least a minimum of net owned funds minus the amount that’s invested in shares of subsidiaries, companies in same group and all other NBFCs, outstanding loans and the book value of debentures and bonds, the advances that include hire purchases and financial lease made for deposits and subsidiaries and companies of the same group.

The owned funds is an aggregated paid up capital of equity, the preference shares that are compulsory to convert to equity, the free reserves and balance in the shares premium account and monitory or capital reserves that represent the surplus that arise out of the sales and proceeds of the assets. This is excluding the reserves generated by the revaluation of assets which is after deduction of collective accumulation balance of loss, deferred revenue expenditure and other assets.

 
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What is Nidhi Company Registration?

"Nidhi" is a Hindi word, which implies fund or finance. Nidhi is an organization which has the sole purpose of building up the habit of thrift and reserving funds among its individuals & furthermore getting deposits and loaning to their members for their benefit. Nidhi Company is a Non Banking Financial Company which don’t require RBI license. The borrowing and lending of cash are confined to its individuals just for their advantage. It has been perceived under the area 406 of Companies Act 2013 & Nidhi Companies Rules, 2014. The fundamental thought of Nidhi Company Registration is the "Rule of Mutuality" as a result of which it is also known as Mutual Benefits Company.

What are the Requirements For Registering Nidhi Company?

A Nidhi Company might be used as a Public Limited Company and it requires 7 shareholders and 3 directors which are appointed by the 7 shareholders. The least paid up value share capital ought to be Rs.5 lakh. Nidhi Company neither issue preferences hares nor pursue any other objectives. Each company after finishing Nidhi Company Registration must have "Nidhi Limited" associated with them in their name.

After the incorporation of the company atleast 200 number of shareholders will be required within a year and the minimum owned fund must be about Rs 10 lakh. If any company who is unable to meet such conditions then within 30 days from the end of the first financial year, you must apply for Regional Director for the extension of time period.

What is the Procedure for Nidhi Company Registration?

• Fill the form- every individual must fill the details that are asked and submit the document.
• Get DSC & DIN- to proceed further you will require DSC & DIN, we will provide you this, and you also need to give your approval. It will take about 3 working days.
• Verification- in this step the details you have provided or submitted in the form will be verified. It will take around 2 working days.
• Document Submission- on behalf of you we will create your document & file them with ROC. This process will take to complete about 6 working days.

Now once your company is registered we will provide all the documents & DSCs to you. Have a look on the documents that will be required for the Nidhi Company Registration:-

• Copy of Aadhaar Card/ Voter ID of directors
• Copy of Pan Card of directors,
• Passport Size Photographs of directors,
• Electricity or Water bill of your business place to confirm the address,
• If you are on rent then rent agreement copy will be required,
• If it is your owned property then a copy of property papers will be required,
• Landlord NOC will be provided,

What are the Concerns & Benefits Related to Nidhi Company Registration?

Nidhi Company is exceptionally reliant on the trustworthiness, honesty and loyalty of its members. It takes into account just the necessities of little and medium-income groups. Nidhi Company Registration are typically overseen by the beginners, rather than those of expert directors, as they can't be contracted because of lack of funds. Most of the individuals might be hesitant to deposit funds in light of the fact that Nidhi Companies don't require a permit from the RBI. But there are many advantages if you are planning to apply for Nidhi Company Registration. It doesn’t require minimum share capital and transfer of ownership is very easy. It offers tax benefits and no stamp duty is required. It has a very clear end goal to provide donations and loans to the peoples, thus it is very helpful to the peoples who belong to lower or middle class. It provides relaxation in compliances and its exemptions & privileges come under Companies Act 2013. It assures for secured investments and provides low rates of interest.

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Ways to setup Sole Proprietorship in India

Sole Proprietorship Registration is a simple form of business entity with minimum regulatory compliances. It is owned by the single owner whose liability will be unlimited. Under this, owner is called as Sole Proprietor. To start with sole proprietorship, one has to acquire license according to the business type such as registration under GST, Shops and Establishment Act, MSME registration and food license in case of food business. However there are threshold limits which exempts from compulsory registration.

Features of Sole Proprietorship Registration

Ø  Full control over the business

Ø  Unlimited Liability

Ø  Decision making power

Ø  No Perpetual Succession

Ø  It is not a separate legal entity

Ø  Lesser regulatory compliances

Advantages of Sole Proprietorship Registration

Ø Easy formation

Ø Taxation Benefits

Ø Decision making power

Ø Less legal compliances

Ø Lower formation cost

Disadvantages of Sole Proprietorship Registration  

Ø  Limited Ideas

Ø  Unlimited Liability

Ø  Lack of Credibility

Ø  Inability to raise funds

Ø  Further addition of partners cannot be done

Documents required for setting up Sole Proprietorship Registration

There is no prescribed process of Sole ProprietorshipRegistration. It can be done as per the type of the business activity. 

In case of registration under Shops & Establishment Act

Ø  Copy of PAN of Proprietor

Ø  Copy of Identity Proof (Aadhar/ Passport/ Voter ID)

Ø  Bank Statement

Ø  Copy of Address Proof

Ø  Passport Size Photograph 

In case of Tax Registration(GST Registration)

One has to obtain GST registration, in case turnover exceeds Rs.20 lakhs and Rs.10 lakhs in case of north east region. However in some cases GST registration is required to be obtained. 

Following below mentioned documents are required for GST registration:

Ø  Copy of PAN

Ø  Copy of Aadhar Card

Ø  Proof of business location

Ø  Copy of bank statement

Ø  Passport size photograph

In case of Bank Account Opening

Bank account can be opened on the name of the Company, if proprietor has obtained any of the license. As banks ask for legal certification from the proprietor. 

Following below mentioned documents are required for bank account opening as per RBI for KYC such as:

1.       License issued under Shops & Establishment Act;

2.      GST registration certificate

3.      Certificate of Practice issued by authorities such as following:

Ø  Institute of Chartered Accountants of India,

Ø  Institute of Cost Accountants of India,

Ø  Institute of Company Secretaries of India,

Ø  Indian Medical Council, Food and Drug Control Authorities.

4.      License issued by Central or State Government to the proprietors.

5.      IEC (Import Export Code) issued to the proprietor by the DGFT.

6.      Income Tax Return (ITR)

7.      Utility bills on the name of the proprietor.

Usually sole proprietor finds it difficult to manage all the business activities solely and they decide to convert it into another form of business entity. 

Sole proprietorship is best for small entrepreneurs as it involves low formation cost. Our team of experts will help you in Sole Proprietorship Registration process. They will verify the documents and start the necessary process. 

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Private Limited Company Registration In India

In India, company registration is mandatory with the Ministry of Corporate Affairs. Before setting up company in India there are various factors which must be considered by the entrepreneur. 

Advantages of Private Limited Company Registration in India

Here are the following benefits of Private Limited Company Registration:

• Limited Liability
• Shares can be transferred
• Separate Legal Entity
• Perpetual Succession

Basic Requirements of Private Limited Company in India

• Here are the following requirements of Private Limited Company Registration in India: 
•  Minimum two people are required to form a Private Limited Company in India.
• There must be at least two directors and two shareholders at the time of incorporation of private limited Company.
• Maximum fifteen directors can be appointed in a private limited company and maximum 200 shareholders.
• There is no such requirement of minimum share capital to setup a Private Limited Company in India.

Director eligibility in a Private Limited Company in India

• A person must have completed 18 years.
• Only a natural person can become director in a Private Limited Company in India.
• A foreign national can become director in a Company.

Private Limited Company Registration Validity
 

Once a Private Limited Company registration is done, it shall be valid for the lifetime, however Company must have fulfilled the legal compliances such as filing of annual return and other mandatory forms.

Foreign National Appointment in Directors

Yes, a foreign national can be appointed as a director in a Private Limited Company if he has obtained Director Identification Number but at least one director must be an Indian resident.

Documents for Private Limited Company Registration in India

For Private Limited Company registration in India, below mentioned documents are required:

At the time of Name Reservation (RUN):

·         Proposed Company Name

·         Object of the Company

At the time of Company Incorporation Form (SPICE):

·         DSC for all the proposed directors;

·         DIN of all the proposed directors (If there are more than 3 directors)

·         Details of capital structure of the Company

·         Details of subscribers of the company

If Individual

1.      Personal details of directors;

2.      PAN

3.      ID Proof

4.      Address Proof

5.      No of shares prescribed

If Company

1.      CIN of the Company

2.      PAN of Company

3.      No of shares subscribed

4.      Email id of the Company

5.      Phone No of the Company

6.      Registered Office Details

7.      Details of interest in other entities

·         Details of directors in a Company

1.      Personal details of directors;

2.      PAN

3.      ID Proof

4.      Address Proof

5.      Interest in other entities and amount of shareholding (DIR 2)

·         Registered Office Details

1.      Ownership proof in case of owned office;

2.      Rent agreement if office is on rent;

3.      If office is owned by director then NOC from director.

4.      Registered office address proof (Not older than two months)

·         Affidavit by the subscribers in form INC-9.

·         Declaration by professional in form INC-10.

After filing of incorporation form with required documents, Registrar of Companies verify the application and issue Certificate of Incorporation.

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