Nidhi Company
A Nidhi company is a type of non-banking financial company (NBFC) that is registered under the Companies Act, 2013. The primary business of a Nidhi company is to provide loans and accept deposits from its members.
Eligibility
The minimum number of members required to form a Nidhi company is 200.
The minimum paid-up capital required is INR 5 Lakhs.
All directors of the company must be Indian citizens and residents.
 The company must have a minimum of three directors.
Document Required
PAN Card of all directors.
Address proof of all directors (Aadhar Card/Voter ID/Passport).Â
Passport size photographs of all directors.Â
Rent Agreement (in case of rented premises).
NOC from the owner of the premises (in case of owned premises).
Benefits
easy to set up and require fewer formalities compared to other types of NBFCs.
Low Cost of Funds
eligible for government subsidies and grants
Nidhi companies are owned and managed by their members.
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Our team of financial professionals is highly trained, knowledgeable and dedicated to providing top-notch services to our clients. We are committed to maintaining the highest ethical standards and adhering to all industry regulations.
If you’re looking for a financial services company that is dedicated to helping you achieve your financial goals, look no further than Xtraserve. Contact us today to schedule a consultation and learn more about how we can help you. With our wide range of services and convenient office locations, we are confident in our ability to provide you with the best financial solutions for your needs.
FAQ
EPF & ESIC Filing is a process of registering and complying with the Employees’ Provident Fund (EPF) and Employees’ State Insurance Corporation (ESIC) rules in India. These organizations provide social security benefits to employees.
Any business with 20 or 10 more employees is required to register for EPF & ESIC Filing in India.
The process of EPF & ESIC Filing in India involves registering with the relevant organizations, filing monthly returns, and making contributions to the EPF & ESIC accounts of employees.
EPF & ESIC Filing in India provides various benefits to employees such as provident fund, pension, insurance, medical benefits, and more.
The contribution towards EPF & ESIC Filing in India is divided equally between the employer and the employee. The employer is required to contribute 12% of the employee’s basic salary, while the employee contributes 12% of their basic salary.
Contributions towards EPF & ESIC Filing in India should be made by the 15th of the following month in which the contributions were due.
Non-compliance with EPF & ESIC Filing in India can result in penalties and legal consequences, such as fines and imprisonment.
Yes, you can change your EPF & ESIC Filing contributions in India, provided the changes are made within the guidelines set by the relevant organizations.
The procedure for making changes to EPF & ESIC Filing in India involves informing the relevant organizations about the changes and making the necessary contributions and filings.
The procedure for withdrawing EPF & ESIC contributions in India involves filing a claim with the relevant organizations, providing the necessary documents and information, and following the prescribed process for the release of funds.
No, you cannot withdraw your EPF & ESIC contributions before completing the minimum service period as specified by the relevant organizations.
You will need to submit various documents, such as the PAN Card of the business, the PAN Card of employees, bank details, and more, to complete the EPF & ESIC Filing process in India.
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