Private Limited Company-Bihar (Upto 1 Lac Capital)(Excluding Government fees)

Description

Private Limited Company-Bihar

Formation of a Private Limited Company in Bihar: A Comprehensive Guide

A Private Limited Company (Pvt. Ltd.) is a popular business structure in India, including Bihar, due to its limited liability and separate legal entity status. Here’s a step-by-step guide to forming a Pvt. Ltd. company in Bihar:

1. Digital Signature Certificate (DSC)

• Obtain DSC for Directors: All proposed directors of the company must obtain a DSC. This digital signature is used to electronically sign documents required for company incorporation.

2. Director Identification Number (DIN)

• Apply for DIN: Each proposed director needs to apply for a DIN. This unique identification number is mandatory for individuals acting as directors of a company.

3. Name Approval

• Choose a Unique Name: Select a name for your company that’s not similar to any existing company name.
• File Form SPICe INC-32: Submit Form SPICe INC-32 to the Registrar of Companies (RoC) for name approval.

4. Draft Memorandum of Association (MoA) and Articles of Association (AoA)

• MoA: This document outlines the company’s objectives, registered office address, and share capital.
• AoA: This document details the internal rules and regulations governing the company’s operations, such as the powers of directors, shareholders’ rights, and meeting procedures.

5. Prepare Incorporation Documents

• Collect Necessary Documents: Gather the following documents:
  • PAN cards of directors
  • Address proof of directors
  • Passport-sized photographs of directors
  • No-objection certificate (NOC) from the property owner for the registered office address
  • Proof of identity and address of subscribers to the Memorandum

6. File Incorporation Form SPICe INC-32

• Submit Form SPICe INC-32: This form consolidates various incorporation forms, including incorporation form, declaration of directors, and subscriber’s consent.
• Pay Fees: Pay the required fees to the RoC.

7. Certificate of Incorporation

• Obtain Certificate: Upon approval, the RoC issues a Certificate of Incorporation, signifying the company’s legal existence.

Post-Incorporation Compliance

• PAN and TAN: Obtain a Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) for the company.
• Bank Account Opening: Open a bank account in the company’s name.
• Stamp Duty and Registration: Pay stamp duty and register the company with the relevant authorities in Bihar.
• GST Registration: If applicable, register the company for Goods and Services Tax (GST).
• Professional Tax Registration: Register the company for professional tax, if required.
• EPFO and ESIC Registration: Register the company with the Employees’ Provident Fund Organization (EPFO) and Employees’ State Insurance Corporation (ESIC), if applicable.

Key Considerations for Bihar-Specific Requirements

• Local Laws and Regulations: Familiarize yourself with the specific laws and regulations applicable to businesses in Bihar.
• Professional Guidance: Consult with a legal professional or a registered company secretary to ensure compliance with all legal formalities.
• Timelines: The exact timeline for company incorporation may vary based on factors such as document verification and RoC processing time.

By following these steps and considering Bihar’s specific requirements, you can successfully establish a Private Limited Company and embark on your entrepreneurial journey in the state.