Formation of a Private Limited Company
Formation of a company does not fall under the purview of the HR function, but since I have some knowledge about it, I feel compelled to respond to your query.
The registration of a Private Limited company is done with the Registrar of Companies (ROC), and the process is now entirely online.
Steps to Register a Private Limited Company
1. Firstly, decide on the name of your company. You must choose three names and block them on the ROC/MCA website after checking their availability.
2. Decide on the persons to be on the board of directors. Now, even one person can be on the board, to the best of my knowledge.
3. Determine the share capital amount of the company and the share distribution among each director.
4. Select the company's registered address and ensure you have proof of address.
5. Obtain PAN cards, DIN (Director's Identification Number), and DSC (Digital Signature) for every director.
6. Finalize the main and secondary objectives of the proposed company.
7. Finalize the Memorandum of Association and Articles of Association for the proposed company.
This is a specialized subject for a company secretary or a chartered accountant. You will need to engage the services of such a professional who can handle this task efficiently.
The entire process of company formation and registration can be completed in less than a month. The cost would range between 15k and 30k, depending on various factors.
There are several post-registration tasks that you will need to address.
Please let me know if you need further assistance.
Regards