Post Incorporation Compliance

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After the company’s incorporation, there are a few mandatory company act compliance, such as the filing of INC-20A, appointment of the first auditor, Share Certificate Franking, etc.

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Introduction

What is Post Incorporation Compliance

Employee’s State Insurance (ESI) Scheme runs under an independent authority- Employee State Insurance Corporation which falls under the jurisdiction of the Ministry of Labour & Employment. This scheme is designed to provide socio-economic protection to employees working in a company. Medical benefits, sickness benefits, maternity benefits, and various other benefits to employees and their families are covered under this scheme. The scheme also extends financial assistance and medical care to the employees along with their family members insured under ESI Act. The employer and employee need to contribute to the ESIC and hence, it can be called a self-financing scheme. The employer needs to register under the ESI Scheme which can be taken online at www.esic.nic.in (Government portal) once the employer falls under the obligation of taking this registration.

Check whether your entity is covered under ESIC: (having more than 10 employees)

Benefits

Benefit of Post Incorporation Compliance

Limited Liability

Transferable Shares

Perpetual Succession

Separate Property

Capacity To Sue

Flexibility and Autonomy

Process

Post Incorporation Compliance Process In Easy Steps

Name Of Business

First and foremost, entrepreneurs will have to decide on a name for their business that complies with company naming laws.

MCA approval

Once the MCA approves the proposed name, business owners must duly fill and file SPICe+ Form B. They will also have to upload copies of the supporting documents mentioned above.

Meet With Legal Experts

Next, the entrepreneurs will have to meet with legal experts and start preparing their Memorandum and Articles of Association.

Documents & Pay

Once all the documents required according to the Companies Act, 2013 are ready, entrepreneurs must complete the registration process online. They will also have to pay the necessary processing fees online as per their state’s slab.

Grant Certificate

The MCA officials will then review all your documents and process your application for incorporation. If satisfied, they will grant a certificate of incorporation within seven days.

Documents required

Documents required for Post Incorporation Compliance

Faq

Frequently Asked Questions (FAQ)

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