Chit fund, a type of finance company in India has been governed by Chit Fund Act 1982. Chit funds does not require approval from Reserve Bank of India. RBI exempted core provisions and chit funds are widely famous. It is also known as “committee”. Understanding the popularity of chit funds, many people have become more accustomed toward the chit funds.
Registering chit funds is mandatory and it requires the following documents.
For every director and member the necessary documents are,
- PAN card
- ID proof
- Bank statement/ Electricity bill/Mobile bill/telephone bill - Any one of these
- Other documents as per the chit registrar. If he/she needs some other documents for proof, the member or the director has to produce those documents.
To owe registration for registered address
- Ownership document or the rent agreement
- Electricity bill
- Copy of NOC
After preparing the documents necessary to register the chit fund company, follow these steps.
- Apply for Digital signature and DIN number
- Apply for Name approval of chit fund company
- Prepare for the documents as per chit fund company’s objectives
- MInimum capital requirement for chit fund company
- Apply for Chit fund company registration
- Apply for chit registration with chit registrar
All directors of the chit fund company should have registered their company under right norms. In the case of members, they should forecheck whether the chit fund company they ought to join is registered or not. For a Free demo chit fund software Visit: Chit Fund Software Live Demo or Contact at 1800-200-1766 or 7397723052.
Check out our client testimonial before taking an action: https://youtu.be/uGMToDS40Z0
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