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How to Start BPO Business in India

Posted on by Fastlegal Team

Business Process Outsourcing (BPO) Services has taken big boom in India in recent past, with the ease in trade barriers with foreign countries , many foreign firms outsource business activities to countries where easy and affordable man power is available, India is among the markets where this works out very well. Now a days most of Indian startups are setting up BPO services for their customer acquisition and  marketing of product and services to their clients. Here we will let you know how to legally start BPO business in India :

Process for Starting BPO Business in India:

  1. Business Registration: To setup BPO you are required to register your business as Private Limited Company in India or LLP or any other firm , Private Limited Company or LLP is required to be formed with the main object of BPO service like tele-banking, tele-medicine, tele-education, tele-trading, e-commerce, call centre, network operation centre and other IT Enabled Services.
  2. Minimum Requirements for BPO Private Limited Company : Private Limited Company formation required minimum 2 Directors and 2 Shareholders, both can be same persons. incase if you are single owner than one person company can also be formed as single Director and Shareholder. Private Limited Company name should be unique and no other company or trademark should exits with the objective of BPO services, for formation or Registration of Private Limited Company PAN, Aadhar, Bank Statement , photo , mobile and email id is required for all Directors and Shareholders and for Company office address Electricity bill , rent agreement and NOC form  owner is required.
  3. Opening of Company Bank Account: Once the Company is registered its Directors or promoters should process for opening of Bank Account of the Company.
  4. Obtaining Other Service Provider (OSP) Licence Application for BPO business  in India (Not Required as per New Guidelines ) https://dot.gov.in/sites/default/files/2020_11_05%20OSP%20CS.pdf?download=1: OSP Registration is a must for service provides who provide service like tele-banking, tele-medicine, tele-education, tele-trading, e-commerce, call centre, network operation centre and other IT Enabled Services, by using Telecom Resources. To obtain OSP Registration, an application must be made to the Department of Telecommunication in the requisite format along with the supporting documents. The following are the documents that have to be submitted along with the application fee:
  5. Documents Required for OSP Registration Application:
    • Certificate of Incorporation issued by Registrar of Company
    • Memorandum and Article of Association
    • Board resolution or Power of Attorney authorizing the authorised signatory with attested signatures.
    • A note on the nature of business / activities of the proposed OSP List of present Directors of the Company.
    • Present shareholding pattern of the company indicating equity details 
    • List of Directors of the Company
  6. GST Registration : GST Registration is required to be obtained once you have received the OSP Registration Certificate.
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Fastlegal provides BPO Registration Services in India – Please call at 9782280098 or email us at mail@fastlegal.in

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How to File Form DIR-3 KYC in India – Information and Documents Required for Filing Form DIR-3 KYC

Posted on by Fastlegal Team
As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through the eform DIR-3KYC. Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 31st August,2018
Eform DIR-3KYC (Application for KYC of Directors ) is now available on MCA web-portal for necessary compliance by every Individual having obtained DIN on or before 31st March,2018.

Documents Required for Filing Form DIR-3 KYC to MCA :

  1.  Aadhar Card
  2. Passport Copy, If obatined
  3. Current Address proof – Bank Statement / Utility Bill
  4. PAN based Digital Signature 

Information  Required for Filing Form DIR-3 KYC to MCA :-

  1. DIN (Director’s Identification Number) of Director
  2. Director’s Full Name as per PAN
  3. Father’s Name as per PAN
  4. Whether Indian Citizen or Not
  5. Nationality of Director
  6. For Foreign National, Nationality will be as declared in Passport
  7. Whether Resident in India or Not
  8. In case, Non-Resident – Passport will be mandatory
  9. Date of Birth as per PAN
  10. Gender
  11. Income Tax PAN (Mandatory for Indian Citizens)
  12. Valid Passport (If having), Passport Number needs to be entered
  13. Aadhaar Number (Mandatory in case of Indian Citizen)
  14. Personal Mobile Number and E-Mail Id for the Verification of OTP
  15. Permanent Residential Address
  16. Present Residential Address

DIR-3KYC Mandatory for Foreign Directors also.

Penalty if not filed within 31st August 2018 – Rs.5000

If Not filed within due date DIN of Directors will be deactivated and Directors will be disqualified to act as Director.
KYC mandatory even for disqualified Directors.
If you are presently not a Director or Designated Partner in any company or LLP  and obtained DIN earlier than also you are required to file Form DIR3KYC. 
Please note this is Annual KYC compliance required to be made before 30th April every Year.
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How to Register Sole Proprietorship Firm Online in India

Posted on by Fastlegal Team

Whenever an Individual does a business in India with his own, he is running his own firm i.e. Proprietorship Firm. Legally in India registration of Proprietorship firm is not mandatory, you can run proprietorship firm business without any Registration, but in this new era of KYC and certain rules and regulation for Banks, Banks do not process for Current Bank Account in the Name of Firm unless you have valid Firm Registration Certificate. Further if you are doing online business through e commerce marketplace you are mandatory required to have GST Registration for your Business.

List of Registration you can obtain for Proprietorship firm in India:-

  1. Shop Act Registration  or Gumasta Licence : Registration under Shop and Commercial Establishment Act Commonly known as “Shop Act Registration” Most of the Banks open Current Bank Account for this Registration 
  2. GST Registration: As GST Registration is Mandatory Only if Gross Sales Exceeds Rs. 20 Lakh in any Financial Year , but you can voluntary take GST Registration,
    • GST Registration is Mandatory if you are selling products on E commerce Marketplace Websites like : Amazon, Flipkart, Snapdeal, Ebay, Esty etc.. also if you are running ads for your business promotion on popular Social Networking like Facebook , Twitter etc.
    • GST Registration is required by vendors if they are registered under GST , this makes easier for them to make uniformity in business transitions.

How to Register Sole Proprietorship Firm Online in India 2

  1. Udyog Aadhar Registration: Udyog Aadhar Registration is for MSME Enterprises, this registration will give recognition of MSME enterprise for your business,  if you are running proprietorship firm business and want to have Single Registration this is great deal to have in pocket. You can apply for MSME Registration with Fastlegal Team Members.

Opening of Current Bank Account in the name of Business : 

Once you get any of the above registration certificate , you can contact to the Bank with which you wish to open your current account.

Its all Done: Your Business is registered business entity now.  you can now do all the banking transactions in the name of your firm.

Benefits of Proprietorship firm:

  1. Fast and Cheaper Registration
  2. Less Legal Compliance
  3. Banking Transaction may be done in the name of the firm
  4. No Need to obtain different PAN for your business entity (Pan of the Proprietor shall be the business entity also)
  5. No need to file return of your income if your income does not exceed the maximum amount liable to tax (which is at present Rs. 250000/- and may be changed in every budget)
  6. You can keep any name of your Firm, But it is advisable to check Trademark Registration , if someone else has taken trademark than it is not advisable to take that name as Firm Name.
  7. You can also convert your proprietorship firm into Private Limited Company or LLP by becoming Shareholder of more than 50 percent of the Company.

https://fastlegal.in/blog/sole-proprietorship-firm/how-to-register-sole-proprietorship-firm/

Looking for Registration of Proprietorship Firm Online?

Just Submit your request in below Form and Fastlegal Team Members will contact you shortly for getting your Firm Registered as per your business needs, you just need to share Required documents and information Via E-mail.


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Step by Step Procedure for Private Limited Company Registration in India

Posted on by Fastlegal Team

Private Limited Company is the most common incorporated business organisation in India. It limits liability of its members & has a perpetual succession. For starting a Private Limited Company minimum 2 members and directors are required. In this article we provide a comprehensive guide to Private Limited Company registration as per the provisions of Companies Act,2013.

Type of Business Entities for doing business in India :

Private Limited Company :

Private Limited Company is the most popular structure for businesses and startups. Private Limited Company allows outside funding & Foreign Direct Investment easily. Private Limited Companies are required to hold Board Meetings,Register Secured Loans with Ministry of Corporate Affairs,Hold Members Meeting for Important matters,Make complete disclosures about important matters in their Board Report. Due to all these regulatory disclosures and requirements imposed on Private Limited Company by Company Law they tend  to be viewed with more credibility than a Limited Liability Partnership (LLP), One Person Company (OPC), or General Partnership.

Limited Liability Partnership:

Limited Liability Partnership is suitable for Service based industry (for example-web designing,architects,doctors etc.). In comparison to general partnerships it limits the liability of its Partners. However, if you’re looking to raise venture capital or attract talent with employee stock options, private limited is the way to go as LLPs cannot easily accommodate it.

Partnership Firm :

General Partnership Firm is thought to have lost its relevance since the introduction of the Limited Liability Partnership (LLP) because its partners have unlimited liability, which means they are personally liable for the debts of the business. However, low costs, ease of setting up and minimal compliance requirements make it a sensible option for some, such as home businesses that are unlikely to take on any debt. Registration is optional for General Partnerships.

Procedure for Incorporation of Private Limited Company

Following are the steps involved in Incorporation of a Private Limited Company in India:

Obtaining Digital Signature: 

Digital Signature is required to sign Incorporation application and other forms for regular compliance needs,It is issued by certifying authority (like Sify,Vsign, Emudra etc.).

Following are the documents required for obtaining Digital Signature for Directors:

1.) For Indian citizens & residents:

a.) Copy of Pan Card

b.) Copy of Driving license/Passport/Aadhar Card/Voters’ Identity Card

c.) Dully filled and signed Digital Signature Form.

2. For Foreign Nationals:

a.) Copy of Notarized or Appostilled Passport if the country is a party to hague convention.

b.) Dully filled and signed Digital Signature Form.

Name Approval Application in E form RUN:

Application for Name approval may be filled using E-FORM RUN . Care must be taken while applying for Name approval, Name of proposed Company must not resemble with an already registered Company and a Registered Trademark or with the mark for registration of which Trademark application has been filled.

We will help you to check the name availability for your new Company.

Preparation of Incorporation Documents:

  • Form INC -9 ( Declaration from First Subscribers and Directors )
  • Form DIR-2 (consent to Act as Director )
  • E MOA
  • E AOA

What is E MOA and E AOA :

  • E MOA is Memorandum of Association of the Company i.e. Constitutional  Document  in which Name of the Company , State of Registered Office of the Company, Main Objects of the company, Share Capital of the Company and Liability of Members are mentioned.
  • E AOA is Articles of Association of the Company i.e. in which Rules and Regulations for governing of the Company is mentioned.

Our Team will help you to get your E MOA and AOA drafting as your requirements.

Shareholding (Ownership)  in the Proposed Company , how it is decided :

In this case if you are two persons starting a New Company it is important that what ownership you will held in the proposed Company , Lets take and Example – We will Incorporate a Private Limited Company which will have Share capital Divided into 10000 Equity Share Shares of Rs. 10 Each in this case We divide 5000 Share each to both the persons , the ownership will be 50-50% for both the persons. Ownership decides the voting rights of members in the proposed Company.

In New Company Share are subscribed by mentioning the no of shares in the Subscription page of MOA of the Company and it is witnessed by  Company Secretary, Chartered Accountant or Cost Accountant in Practice.

Subscribing to Memorandum and Articles of Association:

By subscribing to Memorandum and Articles of Association members agree to become member of Proposed Company. Following are the manner for Subscribing to Memorandum and Articles of Association:

1.) If all the members are Indian resident Individuals:

Subscriber sheets of Moa & Aoa must be signed by respective individuals stating the shares subscribed against their name in Moa Subscriber Sheet.

2. If members include Body Corporate or only Body Corporate are members:

Subscriber Sheet must be signed by nominee of Body Corporate who is authorized by a resolution passed by Board of Directors for subscribing on behalf of Company and other individual subscribers.

3. In case foreigner are members of proposed Company:

 Subscriber Sheet of Moa & Aoa is required to be signed by respective individual or nominee of Body Corporate and must be Notarized by Notary Public of that Country if the country is not a party to Hague convention if that country is a party of Hague convention than it must be appostilled accordingly.

Filling of Incorporation Application to CRC:

Once all the above processes are completed than incorporation application may be filled using the forms available on website of Ministry of Corporate Affairs.

Obtaining DIN and Name Approval can directly be made through SPICE form. GST Registration can also be applied along with Spice form through AGILE.

Opening of Company Bank Account :

It is very much advisable to open a Company Current Bank Account as soon as company is registered, and deposit the subscription money to company bank account .

Filing of Form INC 20A for Commencement of business of Company :

The Company has to file form INC 20 A for Commencement of Business of the Company , Company cannot Commence and exercise borrowing powers if company does not file form INC 20A .

Place your Request for Private Limited Company Registration Online in India

Call us directly at 9782280098

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Nidhi Company Software in India

Posted on by Fastlegal Team

Nidhi Company is Finance Company which lends money and accept deposit form its members only. Every Nidhi Company has to follow Provisions of Nidhi Rules and Companies Act, 2013. It is very important that all the procedure relating to admission of members, allocation of shares, creating schemes for Loans, disbursements of loans, Opening of Savings Account, RD Account and FD Account are carried out in simple and hassle-free manner that you feel very little need for managing legal compliance and focus on your business.

Fastlegal Nidhi Software :

Fastlegal has its own in-house Nidhi Software which was built by top it experts and Company Secretaries to its clients, Fastlegal Nidhi Software has all the features that are required for finance business. following are main features of Fastlegal Nidhi Software :

  1. Member Addition and Reporting in Single Click
  2. Share Allotment and Transfer to members
  3. Automatic Share Certificate Printing
  4. Automatic Share Transfer form Printing
  5. Member Application Form Printing
  6. Loan Account Opening and Management with Automatic EMI Scheduler and informer
  7. Savings, RD and FD account Opening with Bond and Statement Printing
  8. SMS Gateway
  9. Compliance Alerts at every step
  10. Automatic Half Yearly and Yearly Return Preparation
  11. Real-Time update for change in Nidhi Rules and automatic updation
  12. Data Backup and Restore Options
  13. Facility to create Multiple Users for Different Roles
  14. Approval Facilities
  15. KYC Uploading Facilities …. many more

Get Free Demo For Fastlegal Nidhi Software 

Call : 9782280098 Or Email Us At Mail@Fastlegal.In

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One Person Company (OPC) Registration in India

Posted on by Fastlegal Team

One Person Company (OPC) Registration is a type of Private Limited company in India where only One Individual person can register a Company in India as per the provisions of the Companies Act, 2013, One Person Company (OPC) is most suitable for persons who is the sole owner of the business and want to avail the benefits of Limited Liability. One Person Company is alternative to the sole proprietorship business entity. OPC is separate from its owner and he holds 100% shares in the Company. One Person Company should always have only 1 Shareholder and Can have more than one Directors. Normally the same person becomes the Director as well as Shareholder in One Person Company. If you are tech entrepreneur and wants to have 100% control of your business OPC is best suited for you.

Information required for One Person Company (OPC) Registration in India :

  1. Name of Proposed Company
  2. Name of Shareholder of Proposed Company
  3. Name of Nominee of Shareholder/Subscriber of the proposed company, it is mandatory
  4. Business Address of One Person Company (OPC)
  5. Name and Email id of Director, subscriber and Nominee

Documents required for One Person Company(OPC) Registration in India :

  1. PAN Card of Director, Subscriber and Nominee of the Company
  2. Aadhar Card of Director, Subscriber and Nominee of the company
  3. Latest Bank statement having Current Address mentioned on it (Not older than 2 Months)
  4. Photograph of Director, Subscriber and Nominee
  5.  Electricity Bill/telephone bill/Broadband Bill/ Gas bill of Registered Office Address of the Company
  6. Rent Agreement of Registered Office Address, if Property is Rented ( You may also provide Residential Property like you home Address )

Fastlegal Provides One Peron Company Registration Services all Over India, To Connect with Fastlegal Team Members, Please place your request here or Call us at 9782280098, email us at mail@fastlegal.in

 

 

 

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Provident Fund (PF) Registration

Posted on by Fastlegal Team

Provident Fund (PF) Registration is very important for every organization with respect to employee welfare as the provident fund is Social Security initiative that the employees of the Company or Firm get into habits of savings and accumulate funds, EPFO contribution also gets benefits under Section 80C of the Income Tax Act.

Who Is Required To Obtain Provident Fund (PF ) Registration :

Provident Fund Registration is mandatory for every Company/ LLP/ Partnership Firm/ Proprietorship Firm or any other organization which employs more than 20 individuals, including contractual and permanent employees.

Voluntarily Registration of Provident Fund (PF) can also be obtained by the Company/LLP/Partnership Firm/ Proprietorship Firm which does not have the minimum 20 Employees.

Companies which are not registered under Provident Fund (PF) and are having employees more than 20 are required to register within 1 Month form the date of exceeding the limit of employees and can also be registered after 1 month by paying penalties applicable.

Information Required For Registration Under Provident Fund (PF) :

Every Company/LLP/Partnership Firm/ Proprietorship firm are required to Provide following Information for Registration under Provident Fund :

  • Name and address of Company/LLP/Partnership Firm/ Proprietorship firm
  • Office details of Company/LLP/Partnership Firm/ Proprietorship firm
  • Mention date of incorporation/registration of company
  • Fill up details of employees – total employee strength
  • Activity the business/enterprise is involved in – i.e. manufacturing, production, service, etc
  • Owner details, including designation and address of Directors and partners
  • Particulars related to wage component of employees
  • Details of bank with whom company has banking relationship
  • PAN details
  • Basic details of the employee (name, date of joining, salary, etc.)

Documents Required For Provident Fund (PF) Registration:

Employers are expected to furnish certain documents as proof in order to successfully register EPF, a list of which are mentioned below.

  • Copy of Certificate of incorporation, partnership deed if the company is a registered partnership firm or GST Registration Certificate
  • Public and Private Limited Companies need to submit a copy of memorandum and Articles of Association
  • PAN details of Company
  • Proof of incorporation – first sales invoice/ license issued by competent authorities
  • No of employees
  • Cancel Cheque or Bank statement
  • Email id and Mobile Number

Fastlegal provides Provident Fund Registration Services all over India. To Avail Fastlegal Services Please call on 9782280098 /email us at mail@fastlegal.in

 

Do you want to Know About ESIC Registration? Click here

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How to Apply for GST Registration Online in India

Posted on by Fastlegal Team

How to Apply for GST Registration Online in India 3

GST Registration in India is required for Person where he makes a taxable supply of goods or services or both if his aggregate turnover in a financial year exceeds twenty lakh rupees: you may also opt for voluntary Registration if your turnover does not exceed Rs. 20 Lakhs. Most of the cases if you need GST Registration as you would not like to miss any great business opportunity because of the fact that your business does not have GST Number.

How to Get GST Registration:

To get GST Registration we need to have some basic set of documents of Individual or Company/Firm/LLP along with Name of the firm and business objects of the firm.

Information required for GST Registration :

  1. Name of Firmnarpur
  2. AddresSambas of Firm
  3. Commodities Intend to Sell/Buy or Services to be Provided
  4. Email id
  5. Mobile No
  6. Additional Place of Business Like Branch Address/Factory Address/ Warehouse etc
  7. List of Director/Partners, in case of Private Limited Company/LLP/Firm

Documents Required for GST Registration for Proprietorship Firm :

  1. PAN Card Copy of Proprietor
  2. Aadhar Card Copy of Proprietor
  3. Photo of Proprietor
  4. Bank Statement with IFSC Code or Cancelled Cheque Copy of Proprietor Bank Account ( Saving Account, if you do not have current Account of firm)
  5. Electricity Bill and Rent Agreement copy, if the property is on Rent for Firm Office Address.

Documents Required for GST Registration for Partnership Firm :

  1. PAN Card Copy of Partnership Firm
  2. Registration Certificate/Partnership Deed of Partnership Firm
  3. PAN Card Copy of Partners
  4. Aadhar Card Copy of Partners
  5. Photo of Partners
  6. Bank Statement with IFSC Code or Cancelled Cheque Copy of Partnership firm Bank Account
  7. Electricity Bill and Rent Agreement copy, if the property is on Rent for Firm Office Address.
  8. Resolution for Authorisation Person in case of Firm (We will Provide you for signing )

Documents Required for GST Registration for LLP :

  1. PAN Card Copy of Limited Liability Partnership (LLP)
  2. Registration Certificate and LLP Agreement of Limited Liability Partnership (LLP)
  3. PAN Card Copy of partners of  Limited Liability Partnership (LLP)
  4. Aadhar Card Copy of Partners of  Limited Liability Partnership (LLP)
  5. Photo of Partners of  Limited Liability Partnership (LLP)
  6. Bank Statement with IFSC Code or Cancelled Cheque Copy of Limited Liability Partnership (LLP) Bank Account
  7. Electricity Bill and Rent Agreement copy, if the property is on Rent for Firm Office Address.
  8. Resolution for Authorisation Person in case of Company/LLP/Firm (We will Provide you for signing )
  9. Digital Signature for Directors/Partner in case of Private Limited and LLP  (If you do not have we will Provide )

Documents Required for GST Registration for Private Limited Company

  1. PAN Card Copy of Private Limited Company
  2. Registration Certificate of Private Limited Company
  3. PAN Card Copy of Directors of Private Limited Company
  4. Aadhar Card Copy of Directors of Private Limited Company
  5. Photo of Directors of Private Limited company
  6. Cancelled Cheque Copy of Private Limited Company Bank Account
  7. Electricity Bill and Rent Agreement copy, if the property is on Rent for Firm Office Address.
  8. Resolution for Authorisation Person in case of Company/LLP/Firm (We will Provide you for signing )
  9. Digital Signature for Directors/Partner in case of Private Limited and LLP  (If you do not have we will Provide)

 

Fastlegal Provides GST Registration and Return Filing Services Online – To Connect with Fastlegal Team Members Place your Request here or Call/Whatsapp 9782280098

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CA for Company Registration in Jaipur

Posted on by Fastlegal Team

CA for Company Registration in Jaipur

Private Limited Company is the most popular structure for businesses and startups. Private Limited Company allows outside funding & Foreign Direct Investment easily. Private Limited Companies are required to hold Board Meetings, Register Secured Loans with Ministry of Corporate Affairs, Hold Members Meeting for Important matters, Make complete disclosures about important matters in their Board Report. Due to all these regulatory disclosures and requirements imposed on Private Limited Company by Company Law, they tend to be viewed with more credibility than a Limited Liability Partnership (LLP), One Person Company (OPC), or General Partnership.

Features of Private Limited Company Registration

1. Required Minimum 2 Directors and Shareholders
2. Investment Friendly
3. Body Corporate and Benefit of Limited Liability
4. Widely Accepted Business Structure
5. Easy Restructuring
6. Maximum Number of Members can be up to 200
7. Suitable for Startups and Growing Businesses

Documents Required For Private Limited Company Registration

1. PAN of all Directors
2. Voter ID/DL/Aadhar Card/Passport of All Directors
3. Passport Photo of all Directors
4. Latest Bank Passbook/Statement or Electricity/Broadband Bill
5. Latest utility bill (electric bill/telephone bill) and Rent Agreement or latest tax receipt/ownership deep of the property for the property to be used for a registered office.

Step By Step Procedure For Private Limited Company Registration in India

Step 1- Application for Obtaining DSC (Digital Signiture)
Step 2- Preparation and Signing of Incorporation Documents
Step 3- Filing of Incorporation Form to MCA
Step 4- Waiting For Approval from ROC
Step 5- Certificate of Incorporation

Time Required

Step 1- 1 Day
Step 2 and 3 – 1 Day
Step 4 and 5- Time Taken by MCA

Fastlegal Provides Company Registration Services in Jaipur, Please Place your request here call us at 9782280098 or email us your requirements at mail@fastlegal.in