1. Introduction:
A Producer Company is formed by farmers, artisans, or producers to improve their income through collective efforts. However, like every registered entity under the Companies Act, it must fulfill certain annual compliance requirements. These include ROC filings, statutory audits, and AGMs.
🆕 Update 2024: MCA has digitized the audit compliance process. E-Forms like AOC-4, MGT-7, and DIR-3 KYC are now mandatory via the MCA V3 portal.
📜 2. Types of Licenses & Compliances Required
While a Producer Company doesn’t need a trade license, the annual compliances act as mandatory legal filings. These include:
- ✅ Annual Filing (AOC-4 & MGT-7)
- ✅ Statutory Audit
- ✅ DIR-3 KYC for Directors
- ✅ Filing of Income Tax Returns
- ✅ AGM and Board Resolutions
- ✅ Declaration of Deposit (DPT-3) if applicable
👥 3. Who Needs These Services?
Annual compliances are mandatory for all registered Producer Companies in India, regardless of turnover. You need this if:
- You’ve registered under Section 581B of the Companies Act
- You’re managing activities like farming, fishing, or handloom
- Your company has active directors and issued shares to producers
💼 4. Why Choose a Compliance Service Provider?
Compliance filing involves multiple forms, government portals, deadlines, and penalties. A professional service provider:
- Ensures timely ROC filings to avoid ₹100/day penalties
- Helps with document drafting (audit report, board resolution, etc.)
- Handles MCA updates, DIN KYC, and IT returns
📝 5. Step-by-Step Registration & Compliance Process
Here’s how to comply with annual requirements:
Step 1: Statutory Audit
Appoint a CA to audit financials.
Step 2: Board Meeting & AGM
Hold minimum 4 board meetings/year + 1 AGM.
Step 3: Prepare and file AOC-4 (Financials)
Filed within 30 days from AGM.
Step 4: File MGT-7 (Annual Return)
Filed within 60 days from AGM.
Step 5: File DIR-3 KYC (Director KYC)
Deadline: 30th September every year.
Step 6: File ITR
File company income tax return annually.
📄 6. Required Documents
- MOA & AOA
- PAN & TAN of the company
- Financial Statements (Balance Sheet, P&L)
- DSC of Directors
- Audit Report by CA
- Details of Board Meetings/AGMs
- Director’s KYC documents
💰 7. Cost Involved
| Service | Approximate Cost (INR) |
| Statutory Audit | ₹5,000 – ₹15,000 |
| ROC Filing (AOC-4 + MGT-7) | ₹2,000 – ₹5,000 |
| DIR-3 KYC | ₹500 per director |
| Professional Fees | ₹5,000 – ₹10,000 |
Prices vary based on company size and complexity.
⏳ 8. Time Taken
- 🗓️ Audit & Document Prep: 5–10 business days
- 🗓️ Filing Process (All Forms): 3–5 business days
- 🗓️ Overall Compliance: ~15 working days
⚠️ 9. Common Mistakes to Avoid
- ❌ Missing deadlines (₹100/day late fee per form)
- ❌ Not appointing a statutory auditor on time
- ❌ Filing incomplete or mismatched data
- ❌ Ignoring Director KYC or DIN updates
- ❌ Not conducting the mandatory AGM
📞 10. Call-to-Action (CTA)
Need expert help with your Producer Company’s Annual Compliance?
📧 Email: opriyatrendingpvtltd@gmail.com
📱 WhatsApp: +91 7588756518
🌐 Website: www.opriyatrending.in
❓ 11. FAQs
Q1: Is annual compliance mandatory for a Producer Company?
Yes, as per Companies Act, even if there’s no turnover.
Q2: What is the penalty for late filing?
₹100 per day per form.
Q3: What’s the deadline for AOC-4 and MGT-7?
AOC-4: 30 days from AGM
MGT-7: 60 days from AGM
Q4: Can we file compliance online?
Yes, through the MCA Official Website 🖥️
