post incorporation chklist

Post Incorporation Compliance for a Private Limited Company A Company being creation of law is required to comply with the provisions of the Companies Act, 2013, which prescribes certain specific activities to be performed immediately after incorporation of the Company. These activities are warranted because of specific provisions under the Companies Act, 2013 or under other state level laws like that of Shops and Establishment Act, State Stamp Act or professional Tax. A suggestive list is as under: Sl.No. Type of compliance Remarks 1. Convening of First Board meeting Mandatory 2. Disclosure of Interest by Directors Mandatory 3. Provisioning of Maintenance of Statutory Registers Mandatory 4. Developing of Accounting System for the Company Mandatory 5. Opening of Bank Account for the Company Need based 6. Demand and Collection of Paid up Capital from the Shareholder Mandatory, however to be decided by Director 7. Appointment of Auditor within 30 Days of Incorporation Mandatory, if not done punishable 8. Issue of Share Certificate within 60 Days Mandatory, if not done punishable 9. Payment of Stamp Duty on Issuance of Share Certificate Mandatory, if not done punishable 10. Obtain Registration under Shops and Establishment Act Mandatory, if not done punishable 11. Professional Tax Registration of Company and its Directors Mandatory, if not done punishable 12. Need-Based Registration and licences Need-based 13. Drafting of Employer related documents and HR Policies Optional 14. Drafting of agreements like NDA, Privacy Policy for Website and Agreements to be Entered with Vendors Optional 15. Protect Intellectual Property Rights like Trademark, Copyright, Patent and Design Strongly recommended

Corporate Stationary

Post incorporation of a company, the company must purchase the following corporate stationary for use in company compliance matters:

Name Board, company seal, letter head, share certificate, statutory register.

Apply for company PAN

Open Bank Account

Appoint Auditor