Spice-Incorporation

SPICe Plus Incorporation

SPICe Plus Incorporation

The Ministry of Corporate Affairs (MCA) has taken the initiative to launch a new web integrated SPICe+ forms. The SPICe+ abbreviated of “Simplified Proforma for Incorporating Company electronically Plus”. The MCA has decided to introduce the form as a part of the Ease of Doing Business (EoDB). The new SPICe+ will be effective from 15th February. This will be applicable to the incorporation of the new companies. The new form will replace the already existing SPICe forms.

Applicability of SPICe+

The SPICe+ forms would offer about 10 services. The central government Ministries and Departments would tend to the services of the SPICe+ forms. The Ministry of Corporate Affairs, Ministry of Labour, Department of Revenue in the Ministry of Finance and the State Government of Maharashtra would offer the services. The introduction of this form would reduce the time procedure and cost in starting up a new business.

SPICe Vs SPICe+

The new SPICe+ forms are very similar to that of the already existing SPICe forms. The SPICe+ forms provide some extra facilities apart from that of the SPICe. The SPICe renders services like name approval, incorporation of a company, allotment of DIN (Director Identification Number) and the registration of the company’s PAN (Permanent Account Number), TAN (Tax Deduction and Collection Account Number) and ESIC (Employees’ State Insurance Corporation). In addition to that, there are provisions like registration for EPFO (Employees’ Provident Fund Organisation) and Profession tax, opening a bank account for the company and allotment of GSTIN. This helps in incorporating a new company within a minimum number of days.

Procedure for Filing SPICe+

The services of the SPICe+ is of 2 parts. Part A is of the name reservation, and part B is of the rest of the services. The applicant can apply for the name reservation first and then for the other services or he or she can apply for part A and part B services simultaneously. After the name reservation, the application for incorporation of a company is a continuous process.

Provided Facilities

  • The RUN (Reserve Unique Name) service will be provided for changing the name of the existing company. The Registrar of the Central Registration Centre can approve or reject the application. The resubmission of the webforms must be done within 15 days of rectifying the mistakes
  • The details of the incorporation and the approved name will be redirected automatically while filling the forms AGILE-PRO, eAoA, eMoA, INC-9, URC-1
  • The applicant can save and modify the entered information on the application
  • Except for the validation of DSC (Digital Signature Certificate), all the check forms and pre-scrutiny validations will take place
  • After the completion of the form, the applicant should convert the form into PDF format to affix DSC. The applicant can modify the application even after affixing DSC and upload it again
  • The DSC and other validation will take place at the level of uploading
  •  It provides the facility of registering for the EPFO and ESIC as no agency would facilitate such registration after the 15th February 2020
  • New companies in Maharashtra must register for the professional tax
  • Every company registered under the SPICe+ must open a bank account. This facility is available through the AGILE-PRO link in the webform

Required Details

The SPICe+ form requires the following details:

  • Type, class, category and sub-category of the Company
  • Structure of the company (Articles of Association,  details of the authorized and subscribed share capital and details of the number of members)
  • Address of the Company
  • Details of the subscribers and directors
  • Particulars of the One Person Company (OPC) nomination (Nomination, details of the nominee)
  • Details of payment of stamp duty
  • Information on PAN or TAN

Attachments Required

The following are the attachments necessary for submitting the SPICe+ forms:

  • The Articles of Association
  • Memorandum of Association
  • A declaration by the first subscribers and by the directors (It does not require an affidavit)
  • A proof for the address of the office (It can be conveyance, lease deed or rent agreement)
  • Utility Bills copy (The bill should be within 2 months)
  • A copy of the certificate of incorporation of the foreign body corporate
  • The resolution passed by the foreign company
  • A resolution passed by the promoter company
  • The interest of the first directors in other entities
  • Nominee’s consent
  • Identity proof and residential address of the subscribers and the nominees
  • Identity proof and residential address of Applicant I, II and III
  • The resolution of the unregistered companies
  • Declaration in Form INC-14 and Form INC-15

Declaration

The declaration in form INC-9 of the subscribers and the directors must be auto-generated in PDF format and submitted electronically. The applicant has to provide the declaration along with a certification by a professional like a Chartered Accountant (CA), Cost Accountant or Company Secretary.  Such provision is exempted only for two cases. The first case is when the total number of directors or subscribers is more than 20. The other case is when any of the directors or the subscribers do not possess either DIN or PAN.

The notification of the SPICe+ Incorporation is below for reference:

Rules4_07022020

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