NGO REGISTRATION

NGO REGISTRATION FORM

What is NGO company?

Private Limited Company Registration is the most popular legal structure option for businesses in India. A private limited company can have at least two members and up to fifty members. Directors of a private limited company have limited liability for creditors. In the case of default, the bank / creditor can only sell the property of the company, but the personal property of directors is not.If you want to start a company in India, make sure your company is registered as the registration of the company should be your first priority. It is very important to register your company because a registered company has many advantages to register from easy to registration.

Start-ups and growing companies prefer a private limited company because it allows external funding to be easily increased, limits the liabilities of its shareholders and enables them to provide employee stock options to draw them into top talent. is.

Private Limited Company Registration can be done through Legalstusta (Company Registration Agent) in Delhi NCR, Mumbai, Bangalore, Chennai and other Indian cities. If you want to register your own company, then you can fully trust Legal Registry (Company Registration Service Provider). We will help you in the company formation process and new company manufacturing process. All information about the registration of the company will be given to you by our specialists.

Private Limited Company Benefits

  • It is flexible and has limited liability
  • Greater capital contribution and greater stability
  • Possibility to grow big and expand

What Is Included In Our NGO Registration Package?

  • DIN for 2 Directors
  • MOA/AOA
  • DSC for 2 Directors
  • ROC Fees & Pan card
  • Name search & approval
  • Free Accounting Software & GST filing

What Is Included In NGO Package?

Complete our Simple Form

You need to fill our simple company registration form and submit documents for formation of a company.

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Obtain DSC and DPIN from us

After submitting your documents we will provide you with DSC and DPIN.

Verification and Name Approval

Details provided by you will be verified and then we shall apply for name approval.

Document Submission

We will create all the required documents and file them with ROC on your behalf.

Your work is completed

Once your company is incorporated, we shall send you all the documents and DSCs.

Documents Required For NGO Registration

  • Copy of PAN Card of directors
  • Electricity/ Water bill (Business Place)
  • Copy of Rent agreement (If rented property)
  • Passport size photograph of directors
  • Copy of Property papers(If owned property)
  • Copy of Aadhaar Card/ Voter identity card of directors
  • Landlord NOC (Format will be provided)

Advantages Of NGO Company?

There are multiple reasons to choose private limited company :

  • Preferred by banks, VCs & investors.
  • Easy to allocate and redistribute shares to investors or other directors.
  • Separate legal entity which limits your liability.
  • Offers the flexibility of a partnership firm and the advantages of a Public Ltd Company.
  • Easy to register, manage & run.
  • Easy to dissolve or wind-up.

5 Steps For NGO Registration

1. Application of DSC & DPIN –

First of all, partners must apply for digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refers to the Director’s PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.

2. Name approval –

You need to provide 3 different options for the MCA named for your company, one of which will be selected. The names provided should ideally be unique and suggestive of the company’s business.

3. MOA & AOA submission –

After the name is approved, one has to draft Memorandum of Association and Articles of Associate. Both the MOA and AOA are filed with the MCA with the membership details and

4. Get incorporation certificate –

It usually takes 15- 25 days to create a private limited company and obtain the certificate of incorporation. Incorporation certification is a proof that the company has made. It also includes your CIN number.

5. Apply for PAN, TAN and Bank account –

Then you have to apply for pan and tan. Pan and tan are available in 7 working days. Post it, you can deposit the certificate of incorporation, MOA, AOA and PAN with the bank to open your bank account.

Minimum Requirements For NGO Registration

Minimum 2 Shareholders

Minimum 2 Directors are required

Minimum 1 Lac Share Capital

DPIN for all the Directors

Atleast one Designated partner should be an Indian Resident

Concerns Related To NGO Company

  • Pvt. Ltd company requires few more ROC compliance translating into an additional cost of 5000 to 10000/annum.
  • Minimum capital required is Rs.100,000
  • Private limited company can have a maximum of 200 members.

 

Still, entrepreneurs prefer private limited for the ease in share transfer and potential for future growth.

Factors To Consider In NGO Name Selection

The name of your company is very important. It is the first impression to your buyers, suppliers and stakeholders. It should, therefore, be relevant, suggestive and attractive. There are various factors that you should keep in mind while naming for your company.

Short & Simple

The name should be brief and not too long. People should be able to pronounce it easily and they should be able to remember or read the name of your company for the first time.

Meaningful

Your company name should be related to your business. It should fit the branding of the company. For example, Infosys refers to information systems or IT technologies.

Unique

Your company name should not be the same or similar to the existing company or trademark. You can go to check that your company name is similar to others. You should ideally avoid plural versions, such as “flipkart” or replace just the letter case, spacing or punctuation in the name of the current company.

Suffix

Your company name should end with a suffix “Private Limited” in the case of a private limited company and “LLP” is a case of a limited liability partnership.

Should not be illegal / offensive

Your company name should not be against the law. It should not be insulting or against the customs and beliefs of any religion.

FREQUENTLY ASKED QUESTIONS

Life insurance policies are meant to provide financial sustenance in the event of death, primarily. However, most policies offer additional coverage for disability, accident and various illnesses. Riders usually come at an additional cost although some policies do offer them as part of the primary plan.

Yes, premiums paid are deductible U/S 80C, U/S 80CCC, U/S 80D, U/S 80DD and death benefits are tax exempt U/S 10(10D). This is subject to prevalent provisions of the Income Tax Act, 1961.

Yes, these days almost all insurance providers offer online purchase of life insurance. There are various no. of financial services providers offer this option through their websites, where you can compare and choose from a number of providers. The fact that people are increasingly turning to online purchases of life insurance policies signifies how secure the process is. Online purchases offer policyholders of comfort and convenience and in many cases the policies are cheaper since there are no sales agents involved.

Depending on the type of policy chosen, premiums can be paid either in a lump sum or in regular instalments.

Bonuses are offered under participating life policies i.e. policyholders can participate in the profits of the policyholder’s fund. A reversionary bonus is declared as a percentage which applies to the chosen sum assured. Reversionary bonuses can be simple or compounded bonuses. One-off reversionary bonuses are those that are paid out of one-time profits that may not occur again. A terminal bonus is the residual bonus declared on maturity or the policy i.e. if after declaration of all reversionary bonuses, there are still profits accrued to the fund, it may be paid out to the policyholder in the form of a terminal bonus.

Premiums are the amounts paid by the policyholder to the insurance company in order to keep the policy in force.

Under certain plans, insurance companies give policyholders a share in profits. This amount is called a bonus and accrues to the policyholder at no extra cost. It is awarded at certain times during the policy period. Bonus amounts are decided by the company and are paid out in addition to the chosen sum assured. Certain plans guarantee bonus payments.

Riders are specific to certain situations or events whereby the insurer pays the policyholder a certain amount of money when such event occurs. E.g. critical illness or disability rider. They are an additional benefit to a standard policy for higher premiums.

As per IRDA regulations, if a policyholder does not wish to continue his/her policy they can discontinue the same within the first 15 days of buying it and get a refund.

If a policyholder wishes to cancel his/her policy, once in effect, they can surrender it to the insurer and receive the surrender value as a refund. The surrender value is calculated based on premiums paid and how long the policy was in effect. Surrender is usually allowed after a certain period of time.

If, for example, a policy is used to raise a loan, the policy is ‘assigned’ or transferred to the lender. The policy then bears the lender or the ‘assignee’s’ name. Once the loan is repaid the policy can be reassigned or transferred back.

When purchasing a life insurance policy, the most important thing to check is whether or not guaranteed returns will be provided by the plan. You must also keep an eye on the lock-in period, information regarding premium payments, the implications of defaulting on premium payments, the revival conditions, the fees that would be charged for cancelling or surrendering the policy, the availability of a loan facility, etc. Go through the terms and conditions of the policy you wish to purchase and make sure that it meets all your requirements for an affordable cost.

Proposals are key components on insurance and policies are underwritten based on the disclosures made in them. It is essential that you provide only correct disclosures and statements to the insurance company or you will be at risk of rejection of claims.

In case of your unfortunate and untimely demise during the policy term, your nominees will have to furnish such basic documents as the policy bond, the claim form, and the death certificate of the late policyholder. There may be instances wherein the insurance company may also request you to furnish other documents like a post mortem report, a police inquest report, an employer’s certificate, a hospital certificate, a medical attendant’s certificate, etc. The policy bond usually contains all the information associated with the claims process.

Representatives of specific life insurance companies and have the authority to offer advice on any product that is sold by that particular insurance company. All agents who deal with the sale of life insurance policies are registered with the IRDA. All agents also have a basic requirement to pass an examination before undertaking to sell insurance policies. In case you are purchasing an insurance policy through your agent, make sure that you request for his / her authorisation card attained from IRDA.

A non-participating insurance policy is one that does not allow the insured individual to share in the profits made by the company, while a participating policy ensures that an insured individual has the right to share in the profits of the company. However, the dividends or bonuses declared by the insurance company may increase or decline based on the life funds’ investments returns.

The mortality or risk class of an applicant will be calculated based on an underwriting procedure through which the insurance provider can determine whether or not the applicant is a risk worth taking. The risk of death is calculated based on many different factors like the age of the applicant, the sex, medical and personal history, occupation, habits, etc. The decision of the life insurance company to insure the life of an applicant will depend on the details you have mentioned in the application form. Make sure that all the information you enter therein is accurate as inaccurate information has the potential to cause problems at the time of making claims.

Insurance companies provide something called a grace period to customers who are unable to make premium payments on the due date. The period usually spans for 15 to 30 days, and customers who default on their premium payments are expected to pay during this period. Failure to do so will mean that your life insurance policy has lapsed. As a result, you can either reinstate or revive the policy within a predetermined period of time.

Cancellation of policies during the free-look period can be done free of cost. However, in case you wish to cancel your life insurance policy after the free-look period, you will be charged a small fee for the same.

When a life insurance plan has been active for a specified number of years (usually at least five), the policy acquires a cash value. Every life insurance policy has a savings portion called the cash value. The cash value of a life insurance policy adds up when the worth of premium payments made by the policyholder exceeds the cost of insurance. This excess amount is transferred to a cash value account where it accrues interest. In case you choose to surrender the policy, the company will offer you the cash value or surrender value of the policy. However, please note that surrendering an insurance policy prior to the end of the maturity period will make you incur a significant loss.