The 7 Compliances For A Private Limited Company After Registration

The Private Limited Company is considered a popular business form in India. Data says, nearly ninety percent of companies in India make private limited company registration. Everything related with Private Limited Company is associated with The Companies Act 2013. 

Now You Can Have A Look At The Private Limited Company Compliances

A Company has to go through the process of several compliances  after incorporation of a private limited company. 

1. Board Meeting In Every Quarter

As per the Companies Act 2013, incorporation of private limited company, means you have to oblige with other compliances as well. Conducting a board meeting at every quarter is one such must-follow rule for the private limited company.  The first meeting after private company incorporation is very important. 

2. Opening Current Account For Business Purpose

Opening and maintaining a Current Account in any bank of India for conducting the business of the company is the second compliance the board directors have to follow after company registration. 

3. Be Aware Of Patent, Copyright, Design, And Trademark 

The private firm after registration should go for a few obligatory work. These are trademarking, copyrighting, and patenting the company name, brand name, and innovative products respectively. The private company can take third party consultation for registration of the firm, IT Return Filing, trademark purpose, copyright reason and so on. 

4. The Appointment Of An Auditor

The Companies Act 2013 Section 139 stipulates that the private limited company after incorporation should appoint an auditor within 30 days. An Extraordinary General Meeting (EGM) should be organised immediately if the board of directors fails to appoint an auditor. Within 90 days, an auditor must be appointed.     

5. Registration Under Shops And Establishment Act

The work of the directors does not end with private limited incorporation only. There is a compulsory registration under Shops and Establishment Act should also be done. After the third party assistance on pvt ltd company registration govt fees, you should go for the shops and establishments registration also.  

6. Professional Tax Registration

The professional tax registration is another compliance that a private limited company should look after the mandatory shops and establishment act. A few states like Maharashtra, Gujarat, Karnataka and others have made professional tax registration mandatory for the pvt ltd firms.

So, if you are a PLC and your business arena is in those stipulated states then professional tax registration is mandatory for you. 

7. Share Certificate Issuance

The Companies Act 2013 Section 56(4) deals with the issuance of share certificates. The share certificates are issued in a prescribed format. The share certificates are issued under rule 5 (2) of the Companies Act 2014. A period of 60 days is must if the share issuance is going to be allotted after company incorporation.

These are the seven compliances a private limited company must oblige after the company incorporation. 

How Online Legal India™ Can Help You With PLC Registration 

Businesspersons tend to register their company as a Private Limited Company for several reasons. You can start your business with limited liability, selling the business, raising money are also easy, that is why every business group wants to register their company as PLC.

You can take the support from Online Legal India™ for incorporating a private limited company.   

You just have to provide the DSC (Digital Signature Certificate), DIN (Director Registration Number) along with minimum pvt ltd company registration fees. 

Your work is done without any headache, stress, and tension. 

Conclusion

The private limited company registration shows that the business groups are integrated and focused with their work level. The duty and responsibility of a private limited company does not end here. As an owner of the private limited company, you have to oblige other compliances as well after company incorporation.