ROC Compliance
ROC Compliances After Company Registration
Comprehensive Packages available:
Services Covered
- Obtain Certificate of Commencement of Business
- Issue Share Certificates
- Appoint First Auditor within 30 Days
- Board Meeting Compliance
- ROC Compliance
- AGM Compliance
- Board Report Drafting
Why Choose FAST Solutions?
1. Expertise Handled by Experienced Professionals
Our affordable service for Private Limited Company registration in India comes with nearly zero professional fees, saving you up to 60% of the total cost without compromising on quality. Your work is managed by seasoned professionals ensuring top-notch service.
2. Most Competitive & Transparent Rates
Our dedicated team of trained and experienced graduates meticulously handles your registration process. Each step is further verified by independent qualified professionals, adhering to a strict "Maker and Checker" concept for accuracy and reliability.
3. Legal Compliance Dashboard
Our innovative Legal Compliance Dashboard serves as your virtual secretary, notifying you of upcoming compliance deadlines to ensure you never miss a requirement. This tool streamlines your legal obligations, making compliance effortless and efficient.
ROC Compliance Registration Process
01 Collection
Our team will collect essential details from you for compliance.
02 Draft Preparation
We will prepare a draft of all mandatory notice and resolutions based on details.
03 Document signing
You will sign all the documents and open a Bank Account based on that.
04 ROC Filing
We will get your ROC form attested by professional and file it with ROC.
05 Forms send to you for review
We will send you all the documents for your verification.
Streamlined Compliance for Your Business Success
Ensuring ROC compliance after company registration is crucial for smooth operations and legal conformity. With FAST Solutions, you get expert guidance and comprehensive services tailored to your business needs, ensuring all statutory requirements are met promptly and efficiently.
Partner with us for reliable, cost-effective, and professional ROC compliance services that set your business on the path to success.
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All fileds are mandatory
What is
ROC Compliance ?
Every company registered in India must adhere to the compliance regulations outlined by the Ministry of Corporate Affairs (MCA) and Registrar of Companies (ROC) to ensure smooth operations. These compliances are vital for maintaining transparency and protecting the interests of stakeholders. The ROC has established these mandatory compliances, which apply from the company's registration date and are applicable to all types of companies, be it OPC, Private Limited, Section 8, or Public Limited.
Failure to comply with these regulations can result in the imposition of penalties and fines by the government, as stipulated in the Companies Act and notified by the MCA for the company and its directors. To avoid substantial penalties, companies and their directors must fulfil these requirements on or before the compliance due date. Legal Workmate is an organisation comprising experienced chartered accountants and company secretaries who specialise in handling these compliances seamlessly, ensuring your company remains compliant and penalty-free.
Following Are the
Mandatory Compliance to be done once the company is incorporated
Certificate of Incorporation is issued on the day by the registrar of companies for a company registered to have its jurisdiction over the registered address of the company. Though legally the company has come into existence, it cannot start its operations without filing a declaration for the commencement of its business in Form 20A. For the purpose of filing of the declaration for the commencement of business, the following are pre-conditions.
- Convening of First Board meeting & Passing of the Board resolutions for various matters.
- Open a current bank account for the company.
- Issue of Share Certificate to the shareholders.
- Filing for Declaration to Commence the Business (INC-20A).
- Professional Tax Registration of the Company (if Applicable).
- Appointment of the First Auditor of the Company.
- Maintenance of Various Registers of the company at the registered office.
- Form DIR 3 KYC.
1. Convincing of First Board Meeting:
- The board meetings are a meeting of directors which is to be conducted at least once a quarter (the gap between the two meetings should not be more than 120 days) for a private limited company however, for a small company or One Person Company (OPC) (having capital of fifty lacs and turnover of not more than two crores) a minimum of two meetings must be held within the financial year at a gap of six months. There is no limit on the maximum number of board meetings can be held. The first meeting of the directors after incorporation of the companies is very important as it must discuss the various provisions of the Companies Act and a decision is to be made with respect to each such requirement.
- Resolutions to be passed at the First Board Meeting:
(I) Board resolution for the opening of the Bank Account and Power to operate the same.
(II) Board Resolution for Appointment of the Auditor.
(III) Board Resolution for granting of Power to conduct business Activity and ROC filling.
2. Open a current bank account for the company.
- To carry out transactions for business the company is required to open and maintain a current account with any bank in India through which all the receipts and payments of banking nature shall be transacted.
3. Issue of Share Certificate to the shareholders.
- The board of directors must issue a share certificate to the shareholders of the company within 60 days of becoming their shareholders. For a new company, the first subscriber becomes a shareholder from the date of incorporation. Hence, the share certificates to them must be issued by the board of directors. The share certificate shall be signed by the two directors or one director and company secretary of the company who shall mention the folio number, share certificate number and a distinctive number of shares for which the certificate is issued.
4. Filing for Declaration to Commence the Business (INC-20A)
- The declaration to commence the business is filed in Form 20A with the ROC and it must be filed within 180 days of incorporation of the company. In other words, you get exactly 180 days to meet above pre-conditions of filing this declaration. In case a company fails to file the INC-20A within 180 Days then the CIN of the company gets blocked and eventually, the ROC would close the company.
5. Professional Tax Registration of the Company (if Applicable)
- Professional tax is not just the tax levied only on professionals. It is the tax on all kinds of professions, trade and employment. It is imposed by the following states: Karnataka, Bihar, West Bengal, Andhra Pradesh, Telangana, Maharashtra, Tamilnadu, Gujarat, Assam, Kerala, Meghalaya, Odisha, Tripura, Madhya Pradesh, and Sikkim.
6. Appointment of the First Auditor of the Company.
- As per Section 139 of the Companies Act, 2013 every company is required to appoint their first auditor within 30 days of incorporation by its board of directors. In case the board of directors fails to appoint the auditor within the said period of 30 days then they shall call an extraordinary general meeting of shareholders for appointing an auditor. The appointment of auditor through shareholder must be completed within 90 days.
- For the appointment of a director, the company is required to pass a resolution, obtain a concern letter and give appointment letter to the Auditor.
7. Maintenance of Various Registers of the company at the registered office.
- Every company is under obligation to maintain certain register under Section 85, Section 88, 185, etc. of the Companies Act, 2013. It is also required to keep and maintain at the registered office in the prescribed form, any failure in maintaining the statutory register is an offence for which company, as well as directors, may be fined and prosecuted.
8. DIR 3 KYC for Director.
- As per the Companies (Appointment and Qualification of Directors) Rules 2014, “every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year.
Frequently Asked Questions
What services will be provided by FAST Solutions for first board meeting ?
Payroll processing involves accurate payroll calculations, payslip generation, disbursal, and managing payroll taxes.
- Issue of Notice of meeting with agenda.
- Drafting minutes of meetings.
- Drafting of board resolutions.
- Attendance sheet preparation for board meeting.
Why is the first board meeting crucial ?
Since it is the first meeting between the board of directors after registration of the company there is a requirement to pass various relevant board resolutions, without these resolutions it will be not possible for the company to commence its business activity.
How many board meetings are required to be held in a private limited and opc in a year ?
A private limited company is required to hold at least four board meetings in a year in such a manner that the gap between two meetings should not be more than 120 days.
Whereas an OPC is required to hold only two board meetings in a year with a gap of at least 90 days gap between two board meetings.
Is stamp duty supposed to be paid in case of issue of share certificate ?
Yes, in a few states it is mandatory for the company to pay stamp duty on the share certificate.However, the stamp duty varies in the ranges from INR 1.00/- to INR 100/- based on the state of registration.
How can one pay for the stamp duty in case of share certificate ?
There are various ways in which you can pay stamp duty on the shares.
- By attaching revenue stamp or notary stamp. (Available at every post office)
- By paying stamp paper fees.
- By way of Franking by bank.
Is the payment of stamp duty made by the team of FAST Solutions?
No, since the only company has the right to do the franking or buy stamp paper, it will be responsibility of the company to do the same. We shall provide the company with a coloured copy of the share certificate which can be stamped by the company at any point of time.
In which state stamp duty payment on share certificate is required ?
Payment of stamp duty is required only in the following states:
Andhra Pradesh, Arunachal Pradesh, Haryana, Himachal Pradesh, Karnataka, Maharashtra, Nagaland, Orissa, Punjab, Rajasthan, Uttar Pradesh, NCT Delhi, Tamil Nadu, Gujarat, West Bengal, Goa, Chandigarh, Dadra and Nagar Haveli.
What is the amount of stamp duty in various states ?
| States | Stamp Duty on Share Certificate |
|---|---|
| Andhra Pradesh, Haryana, Himachal Pradesh, Karnataka, Orissa, Uttar Pradesh,Tamil Nadu, Chandigarh | INR 1/- irrespective of amount of folio. |
| Arunachal Pradesh | INR 5/- irrespective of the amount of shares. |
| Maharashtra, Rajasthan, Delhi, Gujarat, West Bengal, Goa, Dadra and Nagar Haveli. | INR 1/- for every INR 1000/- or part. |
| Nagaland | INR 40/- irrespective of the amount of shares. |
| Punjab | INR 10/- irrespective of the amount of shares. |
What details are to be attached in form inc 20a ?
Bank Statement showing the payment of paid-up share capital has to be attached with the form INC 20A and has to be signed by a practising Chartered Accountant or Company Secretary.
What are the penalties if inc 20a is not filled ?
In case if the company has not filled INC 20A form, then he shall be liable for the following penalties:
- Company can be penalised up to INR 50,000/-
- Every officer who is in default will be responsible for paying RS 1,000/- per day of default up to INR 1,00,000/-.
Additionally, the ROC may remove the name of the company from the records
Do I have to pay for the additional cost of appointing ca or anything else ?
No, We shall get all your forms signed by the practising professionals. You have to pay only the fees stated above, and we shall get all your things done without any hassle of going to various professionals for the work.
Is this compliance mandatory for opc ?
Yes, the above-given compliance is mandatory for all the types of the companies whether it is OPC or Private Limited Company.
I want to keep my dsc with me only as I have to verify other tender forms, etc ?
We can send you a copy of the form in which you can easily attach DSC and send it back to us. Further, if the client requires we are ready to sign a confidentiality clause under which we shall use your DSC only for ROC Work.
Is it mandatory to appoint auditor even if there is no turnover ?
Yes as per the Companies Act, 2013 it is mandatory to get the books of accounts audited irrespective of the amount of the turnover of the business.
What if I don't comply with the compulsory roc compliance ?
In case if you don't comply with the same, then MCA shall issue you a notice for penalty due to non-compliance and may strike off the name of your company.
How secure is my financial data with you ?
FAST Solutions follows the best practice of maintaining confidentiality and data protection. The data provided by you will not be shared with anyone and will not be mailed to any person, including government authorities without exclusive written permission from you.
