Nidhi Company Annual Compliance in India
Nidhi Company Compliance
Compliance refers to the filing of certain forms by the government. These compliances take into account the operational, financial, and the employ account of the companies. These compliances are needed to be filed by the Company on an
- Quarterly
- Half-yearly
- Monthly
- Annual Basis
For a Nidhi company, where the essence of the business entity lies in the dynamic changes of the Company's members, it is extremely important for them to stay compliant. This compliance entails everything pertaining to the number of members in a financial year to the reporting of financial accounts of the Company.
Failure to do so will lead to penalties you would want to avoid. To that end, you need to get in touch with Registrationwala for Annual compliance services. We will assist you through the entire matter and also forward the filed compliance to the ROC.
Benefits of Nidhi Company Compliance
Your Nidhi Company must file annual compliance, and the reasons are the following:
Good Legal Standing
If you fill out the annual compliance, you will have a good legal standing in front of your “to-be” members: The flexibility and the purpose of a Nidhi Company allow it to have a dynamic number of members. However, it isn't easy to get these members if you are not compliant. Being allowing compliant helps you develop trust.
Penalty for Non-Compliance
There are penalties associated with not filing the compliance: Needless to say, submission isn’t optional. You need to follow through with them to ensure you are not penalized.
Smoother Business Operations
you need to ensure that your operations are smooth, and being annually compliant will ensure that the ROC doesn’t bother you much. This makes sure that you have a smooth process going on.