Just Registered Your Company: What Next?

Private Limited Post-Registration Steps

Many new company directors, especially those who registered online or through a consultant, might not be aware of the next steps required by law. The Companies Act 2013 specified the important rules post-registration of your Company.

Avoiding them can lead to unnecessary headaches – like penalties, late filing fees, notice for closing of your company.

Follow Step-By-Step Guide to Get Registration Done On Time

post-registration roadmap, guiding you through the essential initial actions to keep your Private limited Company compliant and running smoothly. We’ll break it down into simple steps you can understand and follow easily.

Quick guide on what to do next after registering your Private Limited Company

Appoint an Auditor (Within 30 Days)

1. The Board of Directors needs to finalize a qualified statutory auditor to review your Company’s finances.
2. Download a free board resolution format to ease the process: click here for download the form
3. Consult with Team IN Filings CA office to appoint your First auditor for free.

Open a Business Bank Account

After registering your Company, the MCA will notify your referred bank to facilitate opening a Startup India Current Account. This dedicated account streamlines financial transactions for your new business.

Don’t delay! Opening a business bank account is crucial to initiate other essential processes, such as filing the Commencement of Business (COB) form. Coordinate with your bank representative to expedite the account opening and kickstart your entrepreneurial journey seamlessly.

Consult with Team IN Filings Ca office to get your free bank Current a/c.

File Commencement of Business (COB Within 180 Days)

• Inform the Ministry of Corporate Affairs (MCA) about your business operations starting.
• Requirements:

• • The initial capital invested through your company bank a/c. requires a company bank account (Bank statement needed)

• • Office photos (outside & inside with signage) & along with the Director photo who is signing the COB form

• • Digital Signature Certificate (DSC) of the main director

Need Help on COB (Inc 20A) filing?

team at Prakasha & Co. is here to assist you! Contact us  for a smooth process.

Additional Important Compliances

• Register for GST (if applicable):
•  You might have applied for GST registration during your company incorporation through SPICE forms at the MCA. However, due to occasional technical issues, the GST registration might be delayed or not happen automatically. To get the benefits of GST ITC on the initial expenses spent on purchases etc., it’s advisable to make a separate GST registration application.

This separate application process is straightforward and requires basic documents like your rental agreement, a recent electricity bill, and a receipt for the latest BBMP tax payment.

Don’t wait for the MCA registration to come through – get your GST is up and running quickly

Compliance with PF ESI

Similar to GST, you might have registered for EPFO and ESIC during company incorporation through SPICE forms at the MCA.

EPFO

This registration generally remains active. However, it’s important to note

that you’ll need to start contributing to EPFO only when your employee count

meets the minimum threshold

ESIC

Here’s where things get more nuanced. While the MCA registration applies,

there’s an additional step if you don’t have the minimum number of employees

(10 for factories, 20 for others). In such cases, you need to inform the ESIC

to mark your account as dormant.

This dormancy status typically lasts for 6 months, after which you must file NIL returns with ESIC to

stay compliant

Need Help Navigating EPFO & ESIC Compliance?

Contact us  for a smooth transition.

Employer PT Enrollment payment (Within 30 Days)

Just like appointing an auditor, PT employer enrollment payment is another important step after registering your company. You typically have 30 days to complete this process.

Enquiring about PT Enrollment payment

While you might have applied for PT during company incorporation through SPICE forms, it’s advisable to check with the Karnataka PT department to confirm your enrollment number and any further steps required.

First Year PT Payment

Once you have the PT enrollment number, you’ll need to remit PT for the first year as per the due date set by the Karnataka PT department.

PT payment after December?

If you registered your company after December of a particular year, you’re typically eligible for an exemption until March 31st of the following year. However, it’s always recommended to double-check with the Karnataka PT department for the latest exemption rules.

Launched your Pvt. Ltd. company but feeling overwhelmed by post-registration requirements?

Prakasha & Co. provides clear guidance and expert support, ensuring your business stays compliant and thrives. Focus on your passion, we’ll handle the legwork!

Contact Us Now For Smooth Registration Process!

Phone: +91 7019 827 351 

Email: crp@prakashaandco.com