Company incorporated. help on post incorporation formalities

SRIRAM NATARAJAN (Software Engineer) (44 Points)

05 September 2013

I have incorporated a Private Limited Company.

I want to know the procedures to be followed post incorporation.

I have already applied for PAN.

The 2 directors will be the only persons of the company. No other employees will be there in the company.
Do I still have to apply for TIN?
When, where and how do I convene the first board meeting?
What is the time frame within which I need to hold the first board meeting?
I do not have a dedicated CA or CS for the company. I am planning to go to any available CA for filing of returns at that time. What should I do for this? How do I specify this in the minutes of meeting of 1st board meeting?
Do I have to issue share certificate? If so, issuance of share certificates has any specific format or approval from any Government authority or board?

Please help.

Regards,
SRIRAM NATARAJAN

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APPOINTMENT OF COMPANY SECRETARY
	(Section 383A & Companies (Appointment and Qualifications of Secretary) Rules, 1988)

1	Every company having paid-up share capital of not less than Rs. 5 Crores shall have whole time secretary [Rule 2(1)].

2	Where the paid up share capital is increased to Rs. 5 Crores or more, the Company shall appoint whole time secretary within a period of 1 year from the date of such increase [Proviso to Rule 2(4)].

3	A company having a paid up share capital of less than Rs. 2 Crores may appoint any individual, possessing qualification specified in Rule 2(4), as its whole time secretary to perform duties of secretary, and any other ministerial or administrative duties [Rule 2(3)].

4	A company having a paid up share capital of Rs. 2 Crores or more but less than Rs. 5 Crores may appoint any individual who is member of ICSI, as a whole time secretary [Rule 2(3A)].

5	A company having paid up capital of Rs. 10 lakhs or more but less than Rs. 5 Crores shall obtain Compliance Certificate from PCS provided if such company has appointed Whole Time Secretary who is member of ICSI then compliance certificate is not required to be obtained.

6	Where the BOD comprises only two directors, neither of them shall be secretary of the Company.

Summarized

Paid up Capital		Appointment of CS	Any Individual / Member of ICSI	Compliance Certificate
Rs. 5 Crores or more		Compulsory	Only Member of ICSI	N.A.

Rs. 10 Lakhs or more to Rs. 2 Crores		Voluntarily	Either of Above	Not required if CS is member of ICSI

Rs. 2 Crores or more to Rs. 5 Crores		Voluntarily	Member of ICSI	Not required if appointment is made

Company incorporated. help on post incorporation formalities

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