What is ROC Compliance, and how does it work? : ROC filing for private limited companies

The Registrar of Companies (ROC) is an office within the Indian Ministry of Corporate Affairs that is in charge of enforcing the Companies Act of 2013. Under section 609 of the Companies Act, the ROC has been entrusted with the primary responsibility of registering companies and LLPs that are currently operating in their respective states and Union Territories, as well as ensuring that they conform with the act's statutory requirements.

The ROC office serves as a repository for records relating to the companies that have registered with them, which are open to the public for viewing for a charge. Furthermore, there are currently 22 Registrars of Companies (ROC) in India, with offices in all of the country's major states.

Furthermore, through the Regional Directors, the central government exercises administrative supervision over these offices. To prevent penalties and fines, it's critical to follow all regulations that apply to your business.

Our CAonWeb team will walk you through all of the required compliances since your incorporation. CaonWeb can help you with your ROC Compliance for Private Limited Companies and company roc filing. Sanket Agarwal (Founder and CEO) is a prominent Chartered Accountant who can help in company roc filing. He has assisted over 10k+ in India, Dubai, and Hong Kong with various consultations such as tax planning and business setup.

Role of Registrar of Companies in ROC Compliance of Private Limited: Annual Filing of Company

There are 22 company registrars throughout India. The Registrar of Companies, or RoC, is an MCA agency that is responsible for the administration of the Companies Act, 2013. In addition, the RoC was appointed pursuant to Section 609 of the Companies Act. The RoC is responsible for ensuring that private limited businesses and limited liability partnership companies follow the Act's legislative provisions. The RoC also keeps a register of all companies that have registered with them.

Compulsory ROC Compliance of Private Limited and Company Annual Return

In India, a Private Limited Company must comply with certain regulations. Although forming a Private Limited Company is the most common way to start a business, several regulations must be followed once your company is formed.

Managing your business's day-to-day activities while also complying with corporate rules may be stressful for any entrepreneur. As a result, it is critical to get professional assistance and to comprehend such legal requirements to ensure timely compliance without incurring any interest or penalty.

* Mandatory Annual Rules
We have made some of the binding agreements that the private company Limited must ensure:

* First Board Meeting The First Board Meeting, along with the directors, is expected to be held within 30 days of the Company's merger. A BM announcement should be sent to each director at least seven days before the meeting.

* Next Board Meetings A minimum of 4 board meetings are to be reviewed annually except for a 120-day gap between two meetings.

* Completion of Confession of Interest by Directors 1. The first meeting he participates in as a director; or
2. First Board meeting at each FY; or
3. Whenever there are various disclosures it will be disclosed in the MBP 1 Form (along with the list of relatives and relative attention of the Company as defined in the RPT), his or her interest in any company, board company, organizers/firms or other persons organization (including interest on shares). The MBP-1 form will be kept in Company documents.

* First auditor The BOD will appoint the first Auditor of the Company within 30 days of Establishment to continue in office until the completion of the 1st AGM. In the case of the First Auditor, the installation of ADT-1 is not required.

* Subsequent Auditor The BOD will send the Auditor-General to the first Company AGM to hold office until the end of AGM 6 and will notify the same to the ROC by completing ADT-1. Power to submit Form ADT 1 to the Company and not to the Auditor-General within 15 days from the date of appointment.

* Annual General Meeting Every Company is required to hold an Annual General Meeting on or before 30 September each year during office hours (9 am to 6 pm). On a day that is not a regular holiday and maybe at the Company's certified office in the city, town/district where the authorized office is located. A clear 21-day notice is required to provide the same.

* Submission of Annual Refund (mgt 7 filings) Each Private Limited company is expected to file its Annual Return within 60 days of the Annual General Meeting. The Annual Return will be for '1st April to 31st March.

* Submission of Financial Statements by (Form AOC-4) Each private company Limited is required to submit its 'Balance' and 'Profit and Loss Account' statement and 'Executive Report' to this form within 30 days of holding the 'Annual General Meeting'.

* Statutory Account Accounts Each company must prepare its Accounts and accurately audit the Professional / Chartered Accountant at the end of the mandatory financial year. The Auditor-General must provide the Audit Report and Audited Financial Statements for completion to the Registrar. This is important for statutory compliances for private limited companies.

ROC Filing for Private Limited Companies: Process of Company Annual Filing

* CaonWeb has received your request to comply with the rules of the Private Limited Company.
* We will assign you a competent tool that is legally armed to comply with the business. Shared Resources support you to manage compliance with your Private Limited Company. You can contact an authorized device at any time to discuss and assist with compliance with your trip with CaonWeb.
* Our support will help your Private Limited Company to keep statements and prepare an annual financial report.
* Our support will collect all the required documents/erudition and will complete all of the following activities to comply with your Private Limited Company.

* Manage Accounts and Create Financial Statements
* Annual refunds
* Annual General Meeting
* Board meetings
* The director reports
* Completion of Annual Forms
* Annual forms by directors

* Our support will collect all the required documents/information and include your Private Limited Company income tax return through the ROC (Registrar of Companies) and the required documents after obtaining final approval from your financial team if required.
* Our support will assist Private Limited Company in auditing accounts and mgt 7 filing.
* Our support will record meeting minutes, announcements and will maintain an official register.
* The previous seven steps complete your compliance with the Private Limited Company under the Companies Act 2013.

ROC Compliance Checklist for Private Limited Companies

A start-up that operates as a limited liability company must follow compliance criteria as set out by different rules and other governing bodies. The roc compliance checklist for private limited companies includes but is not limited to periodic tax filing and other rebates, boarding and other meetings, bookkeeping, accounting, etc.

1. Occasional payments: GST credit, TDS, and TCS liability
2. Non-Registrar Compliance of Interim Refunds - (Monthly, Quarterly, Annual Return - GST, TDS, etc.)
3. Monthly / Quarterly- GST Returns
4. Quarterly-TDS Returns
5. A pre-tax credit check and prepaid tax payments
6. Installation of Income Tax Refunds (Tax will be liable for a minimum of 30% plus Education Fee)
7. Submission of tax audit report
8. Commercial Management Review under different laws (e.g. Environmental and Protection Act, Money Laundering Law, Competition Law, Industrial Law, etc.)

Compliances Based on Other Events: Annual ROC Compliance for PVT Ltd Companies

Aside from roc filing for private limited companies, there are a number of other compliances that must be completed whenever an event occurs in the organization.
Here are some examples of similar occurrences:
1. Changes in the company's authorized capital or paid-up capital.
2. New shares are allocated or transferred.
3. Making loans to other businesses.
4. Directors are given loans.
5. When a bank account is opened, canceled, or the signatories of a bank 6. account change, a managing or full-time Director is appointed, and they are paid.
6. if the statutory auditors of the corporation are appointed or replaced.

For each of these events, different forms must be filed with the registrar within a certain time frame. If you miss out on this opportunity, you may face additional fines or penalties. As a result, it is critical to satisfy such deadlines.

Why Choose CaonWeb Annual Compliance for Pvt Ltd Company?

CaonWeb's entire team is made up of highly qualified CAs, CS, lawyers, and business administrators. CaonWeb will be India's one-stop-shop for annual return filing, ROC compliance, and filing, as well as a wide range of professional and advisory services.

CaonWeb has also developed the E-Retainer Concept, which goes beyond Virtual CFO Services. Our Retainership Packages for roc filing procedure relieve you of all concerns about Annual ROC Compliance, ROC filing, and registration. You can reach out to our compliance manager at 0120 - 4231116 or info@caonweb.com for a free consultation and additional information about our services. Enroll and Enjoy compliance for private limited companies and don't worry about roc filing fees it's affordable.

Details on Annual Compliance for Pvt Ltd Company and ROC Due Dates

For the fiscal year 2020-21, the ROC has said that no further fees will be charged for filing the roc due dates Form AOC-4 until February 15, 2022, and MGT-7 until February 28, 2022.

Note: During COVID-19, a measure was adopted to provide relief for FY 2020-21: The Companies (Auditor's Report) Order, 2020 will be effective from FY 2020-21 rather than FY 2019-20. As a result, for audits beginning in April 2021, CARO 2020 must be used.

Non-Compliance Requirements for Annual Return Filing of PVT Companies: ROC Registration

If a company refuses to comply with any of the administrative requirements, the company and each officer who is in default will be fined for the period in which the default continues. As a result, the penalties will continue to rise as the period of non-compliance lengthens. Get assistance for ROC Registration!!!