Any individual involved in a close-knit or related activity to the primary producers is referred to as a producer. Thus, the name “Producer Company” serves as a catch-all for everything listed below.
producing, gathering, purchasing, sorting, pooling, handling, marketing, reselling, exporting the primary producers of the members, or importing products or services
Aims of Producer Company
The primary focus of the producer company is the output of its active members. It may engage in any of the aforementioned actions on behalf of the members, either directly or indirectly, through third parties.
Its members’ produce is processed through preservation, drying, distillation, brewing, vinification, canning, and packing.
- production, sale, or provision of equipment, supplies, or consumables, mostly for its members
- Inform its members and others about the mutual assistance philosophy.
- render technical services, consulting services, training, R&D, and other initiatives to advance the interests of its members.
- Activities that advance its members’ interests
- Primary produce is comparable to the production, transmission, and distribution of energy as well as the revitalization of water and land resources through communication and conservation.
- Producers’ or their principal produce’s insurance
- promoting mutuality and cooperation strategies
- As determined by the board, welfare policies or amenities for members
- Any additional activity, whether related to or the same as the others, that advances the values of cooperation among the members in a new way
- financing of member access to credit facilities or other financial services, as well as financing for procurement, processing, marketing, and other activities.
Key features
Acceptance of Deposit
Producer Company is qualified to receive deposits as a fixed deposit or recurring deposit.
loan secured by security
Producer Company can only make loans against government securities, gold, property, and FDs.
Participants in the Producer Company
Only its members may transact with Producer Company.
100% Exemption from Income Tax
Income tax is not due by Producer Company.
Loan Service for Members
Producer Company is able to provide its members with credit and financial resources.
- Documents Required for Producer Company Registration
- PAN & Photo
- ID Proof
- Anyone of the following: Aadhar card, voter ID, Driving license & passport.
- Address Proof
- Anyone of the following: Bank statement, Mobile bill, Electricity bill, Landline bill.
- Producer Proof
- Khasra – Khatuni/ ITR with Agriculture Income/ Sarpanch letter/ Any other proof that can provide person as producer