Partnership firm is required to be registered under sections 58 and 59 of the Partnership Act, though it is not compulsory. The procedure of registration of partnership firm is as follows :
Under Section 58 of the Act : A firm may be registered at any time by filing an application with the Registrar of Firms of the area in which any place of business of the firm is situated or proposed to be situated.
Under Section 59 of the Act : When the Registrar of Firms is satisfied that the provisions of section 58 have been duly complied with, he shall record an entry of the statement in the Register of Firms and issue a Certificate of Registration.
Documents Required for Partnership Registration
- Application in Form 1
- List of Partners with their details
- Partnership Agreement
- Pan Card, Identity Proof, Photo & Address Proof of the Partner (s)
- Electricity Bill of the Premises where the registered office of the partnership shall be situated
- No Objection from the owner of the premises where the registered office of the partnership shall be situated
- Name of the firm should not contain any words which may express or imply the approval or patronage of the government except where the government has given its written consent for the use of such words as part of the firm’s name.
Further Registrations which may be required for partnership firm
- Registration under Shops and Establishment Act: This is state specific requirement, in some states it is mandatory and in some it is optional, for example in the Delhi NCT it is optional
- Local Municipality Registration: This kinds of registration is mandated by some of the municipalities and applies to the firms operating in the territorial jurisdiction of the municipality.
- Sales Tax (VAT) Registration: This is a tax on sale of goods within the state which is governed by the respective vat act of the state.
- Central Sales Tax Registration : This is a tax on Sale of goods between the states, which is governed by the central sales tax act
- Service Tax Registration: This is a tax on the services provided by the firm apart from the negative list of service.
- Import Export Code: This is also known as IEC, and is pre-requisite before the firm ventures in to any import or export
- Trade Mark Registration : Brand Name, Logo, Slogan, Label etc.; are intellectual properties which acquires value over a period of time and it is advisable to protect them under as trade mark
- Provident Fund Registration: The moment number of employees exceeds 20 the firm is required to get itself registered with the regional office of the Provident Funds Organization. The contribution rate is 12% each from employee as well as employer
. - Employee State Insurance Corporation (ESIC) Registration: every organization including the firm concerns employing more than 10 employees having salary more than 15000/- is required to get themselves registered with the concerned Regional office of the ESIC, the contribution to the ESIC is 6.5% wherein 4.75% is contributed by the employer and 1.75% is to be contributed by the employee
- Other Need Based Registration: the firm may be required to get themselves registered into various other departments like excise, customs, SSI etc;
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