Nidhi Company Annual Compliance

Nidhi Company Annual Compliance Registration

  • INR 5,000 /-
  • All Inclusive, No hidden Charges

Basic Plan

Compliance refers to filing of certain forms to the government. These compliances take into account the operational, the financial and the employ account of the companies. These compliances are needed to be filed by the company on an:
1. Quarterly
2. Half yearly
3. Monthly
4. Annual basis

For a Nidhi company, where the essence of the business entity lies in the dynamic changes of the members of the company, it is extremely important for them to start compliant.

This compliance entails everything pertaining to the number of members in a financial year to the reporting of financial accounts of the company.

Basic Information

Requirement & gathering document

Filled the Application

Submit the application

A nidhi company, is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. They are regulated by Ministry of Corporate Affairs. Reserve Bank of India is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these companies deal with their shareholder-members only. Nidhi means a company which has been incorporated with the object of developing the habit of thrift and reserve funds amongst its members and also receiving deposits and lending to its members only for their mutual benefit.

1. Easy to form- The registration procedure of Nidhi company is very easy as compared to the other types of NBFC. 2. Low cost of registration- The cost of registration for nidhi company is comparatively less as compared to many other business structures. 3. Less compliances- Every NBFC is regulated with the RBI regulations. The nidhi company according to the nature of its activities also comes under the NBFC only but unlike the NBFC it does not require RBI approvals. These companies are just required to follow the basic compliances and are exempted from stringent compliances. 4. Less possibility of non-payments of loans- Every nidhi company can lend money according to the Nidhi Rules, 2014. Thus the risk of non-payment of loans is very less as compared to other companies.