Section – 8 Company / NGO
Section 8 Company or a Non-Profit organization (NPO) is a Company established for promoting commerce, art, science, religion, charity or any other useful object, provided the profits, if any, or other income is applied for promoting only the objects of the Company and no dividend is paid to its members
The term Non Profit does not mean that the Company cannot generate profit or income, but it essentially means applying the income for further promotion of the object and not for distributing it to the promoters. It means that the Company can earn profits but the promoters cannot be benefited out of those profits.A Company Incorporated Under Section 8 of The Companies Act 2013 Is: As per Section 8 (1): A Non-Profit making Company is a Company which: (a) Has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object; (b) Intends to apply its profits, if any, or other income in promoting its objects; and (c) Intends to prohibit the payment of any dividend to its members
The Central Government may issue license with such conditions as it deems fit and allow the registration of such person or association of persons as a limited company without the addition to its name of the word “Limited”, or as the case may be, the words “Private Limited”.
Minimum Requirements:
At Least 2 Promoters: Promoters who will promote/ incorporate the Company. Promoters may be individual or body corporate.
At Least 2 Directors: Directors should be individual only. No Body corporate/ HUF or Partnership Firm can be appointed as Directors.
DSC of the promoter – shareholders of proposed Company
DIN of the proposed Directors
Documents / Informations Required for Registration of Section-8 Company -
- Digital Signature Certificate of All Promoters.
- Proposed Object of Company.
- 4 Unique Name with Priority.
- Passport Size Photos of all Promoters.
- Proposed Authorised Share Capital of Company.
- Proposed Subscribed Share Capital of Company along with Contribution by Subscribers.
- Email IDs of all Subscribers and Directors.
- Mobile Nos. of all Subscribers and Directors.
- Educational Qualifications of all Subscribers and Directors.
- Length of Residing at Present Address.
- Name of Authorised Signatory for ESIC.
- Speciman Signature of Authorised Signatory for ESIC.
- Self-Attested Copy of PAN Card and Aadhaar Card of all Subscribers and Directors.
- Self-Attested Copy of Bank Statement / Electricity Bill / Telephone Bill of all Subscribers and Directors.
- Electricity Bill of Registered Office Address.
- Rent Agreement / Title Deed / Sale Agreement of Registered Office Address.
- NOC from the Owner of the Property.