Private Limited Company ( PLC ) v/s LLP

There are many business forms for entrepreneurs to choose from. Two of the most common business forms are Private Limited Company (PLC) and LLP. Let us understand each of these in detail and also take a look at the differences between the two.

What is LLP – Limited Liability Partnership?

A partnership comprising of two or more partners registered with the Ministry of Corporate Affairs under the LLP act, 2008 is known as the Limited Liability Partnership. It is a more preferable form of organization as it provides benefits of private limited and partnership firm. It is a legal entity separated from its partners and all the partners have limited liability up to the contribution made by them and no partner is responsible for the act of another partner.

What is Private Limited Company?

A minimum of two shareholders, who may be individuals or body corporates acting through their representatives, can start the Private Limited registration procedure. Further, the Directors can be same as the shareholders or subscribers to Memorandum of Association as well as Articles of Association (MOA and AOA). Additionally, it protects the members from unlimited liability at the time of loss or closure of company.

A private limited company has all the advantages of a partnership firm like flexibility, greater capital contribution as well as advantages of limited liability, greater stability and legal entity.

LLP v/s PLC

Features LLP PLC
Limit on owners of business There is no limit on maximum partners There is a restriction of not having more than 200 members
Minimum Contribution Requirement There is no minimum capital requirement  Minimum capital requirement of INR 1 Lakh
Cost of Formation Cost of incorporation is approximately INR 8,000 The cost of incorporation varies from INR 6,000 to INR 30,000 depending upon the number of directors, number of members, authorized share capital and member fee
Requirement of Audit Audit is only required if:
  • Contributions of LLP exceed INR 25 Lakhs or, 
  • Annual turnover of LLP exceeds INR 40 Lakhs
Statutory audit is compulsory 
Compliance Burden Only have to file the annual return and a statement of accounts and solvency Approx 8-10 compliances per annum are required to be made

FAQs

Is it compulsory to file Form 3 for every LLP?

Yes it is compulsory for every LLP to file Form3 for LLP Agreement within 30 days of its incorporation.

Who can become a Director in a Private Limited Company?

Any person who is over 18 years of age can be a Director in any Private Limited Company. There are no limitations in terms of citizenship or residency. Therefore, foreign nationals can also be directors in a Private Limited Company incorporated in India.

Whether a partner or designated partner shall contribute in LLP?

While the addition of a partner in LLP, the Partner or Designated Partner may contribute the amount agreed by and between all the partners including present in any form whether tangible or intangible. However, it is not mandatory to bring capital to LLP.

LLP Agreement – An Overview

As per the Limited liability Partnership Act, the filing of the LLP Agreement is compulsory within 30 days of incorporation of the LLP. It is filed with Registrar in LLP Form 3 which is available on MCA Portal.

What is LLP Agreement?

Limited Liability Partnership Agreement is a written agreement executed among the partners of a Limited Liability Partnership or between LLP and its partners. It defines the mutual rights and duties of the partners of LLP.

Purpose of LLP Agreement

Limited Liability Partnership Agreement also called as LLP Deed is the legal document that has the following purposes:-

  • It is the foundation of the firm.
  • This document contains the mutual rights and duties of all the partners of the LLP.
  • It describes the roles and responsibilities of the partners in LLP.
  • It defines the ratio of contribution by partners in the LLP.
  • This agreement defines the share of profit or loss that the partners will share in the LLP.

Contents of LLP Agreement

It contains the following information:-

  1. Name of the LLP
  2. Purpose and object of LLP
  3. Duration of LLP, if any
  4. Place of business of LLP
  5. Name of the Partners of LLP
  6. Contribution of partners and their profit sharing ratio
  7. Date and place of agreement
  8. Mutual rights of the partners
  9. Duties of partners
  10. Provisions related to
    • Books of accounts of LLP
    • Admission of new partner
    • Retirement of partner
    • Cessation of partner
    • Resignation of Partner
    • Restriction of the authority of partner
    • Resolution of disputes
    • Winding up of LLP

Provisions in absence of LLP Agreement

This Agreement defines the mutual rights and liabilities of the partners of a Limited Liability Partnership. However, if an LLP does not have a deed then the provisions of Schedule I of the LLP Act 2008 apply.

Schedule I of LLP Act 2008 contains the following provisions:-

  1. Equal sharing of Profits/ Losses of the LLP
  2. Every partner may take part in the management of LLP
  3. No partner will get any remuneration for management of LLP
  4. Prior permission will be taken from all the partners while induction of the new partner in the LLP.
  5. LLP shall indemnify each partner in respect of payments made in the ordinary conduct of the business of LLP
  6. LLP shall take a decision on any issue or matter only by passing a resolution with the majority of the partners of the LLP.
  7. However, in case of any change in the nature of LLP, it will require the consent of all the partners of LLP.

Procedure to file LLP Agreement

First, draft the LLP Agreement for attaching in LLP Form 3. This Agreement is filed through the following procedure.

  1. Go to MCA Portal

    Firstly, log in to the MCA portal.

  2. LLP forms download

    Under MCA services tab, click on LLP Forms download under e-filing.

  3. Download the form

    Under LLP forms, you will find Form 3 of LLP. Click on it and download with or without help kit as per your preference.

  4. Open the Form

    Open the form in PDF. Start filling it.
    Enter the LLPIN of your LLP. Click on Prefill. The details of your LLP will get prefilled.

  5. Place and date

    Enter the place and date of LLP Agreement.

  6. Fill the following details

    Mutual Rights and duties of partners
    Restrictions on authority of partners
    Management and administration of LLP
    Indemnity Clause
    Resolution of disputes between partners and LLP
    Information relating to Voluntary winding up of LLP

  7. Attachments

    Attach the original LLP Agreement
    The attached LLP Agreement should be on stamp duty and should be notarized.
    Attach the other attachments, if any.

  8. Other details

    Enter the details of the professional who shall certify the form.

  9. Check and pre scrutiny

    Once the form is filled, click on check form.
    After the check form is successful, click on pre scrutiny.

  10. Sign the Form

    Furthermore, DSC shall be attached to the form by the partners of LLP and the Certifying Professional.
    Consider the system requirements while attaching DSC.

  11. Upload form

    Upload the properly dated and signed form on MCA Portal.

  12. Make payment

    After the successful upload, proceed to make payment.
    Once the payment is done, receipt will get generated.

FAQs

Where can I get the Form 3 of LLP to file the LLP Agreement?

You can get the Form 3 LLP on MCA Portal. Visit the MCA Portal. Click on MCA services Tab. Under e filing, select LLP forms download. You will find Form 3 of LLP there to download.

Is it compulsory to file Form 3 for every LLP?

Yes it is compulsory for every LLP to file Form3 for LLP Agreement within 30 days of its incorporation.

What will be the consequence in case of non filing of Form3 with MCA?

In case of non filing of Form3 with MCA , a penalty of INR 100 per day is levied for this default.

Add a Designated Partner to LLP

A Limited Liability Partnership is a partnership in which some or all partners have limited liabilities. LLP must have at least one person known as “general partner” who has unlimited liability. Every LLP must have a minimum of 2 partners and out of them, 2 shall act as the Designated Partners. A Designated Partner should work on behalf of the partners and participate in the day to day activities of the LLP. The LLP can appoint, change, or remove a Designated Partner.

The rules of Limited Liability Partnership Act, 2008 is applicable to a Limited Liability Partnership (LLP). LLP is gaining more popularity because of its easy nature and lesser compliances.

Steps to add Designated Partner to LLP

  1. Apply for DSC

    Apply for Digital Signature Certificate i.e. DSC of the Designated Partner

  2. Apply for DPIN

    After the DSC, apply for DPIN (Designated Partner Identification Number) in Form DIR-3 along with address proof and identity proof of the applicant

  3. Resolution

    Once MCA allots the DPIN to the Designated Partner, all the existing partners of LLP should call a meeting and pass a resolution to add the designated partner in the Partnership Deed

  4. Supplementary Partnership Deed

    A supplementary partnership deed will be drafted in which the new partners name will be added. Written consent of the new partner will be taken

  5. File Form-4 on MCA

    After preparation of all documents, file Form-4 within 30 days on MCA Portal for the appointment of Designated Partner to the LLP

  6. File Form-3 on MCA

    After filing Form-4, along with supplementary and original partnership deed file Form-3 on MCA Portal within 30 days of appointment

  7. Designated Partner Added

    Once all these forms are filed, the name of designated partner will be added to the LLP master data on MCA. If you fail to file the application within prescribed period, an additional fee of Rs.100 per day of delay is applicable

FAQs

Should we update the LLP Agreement to add or remove partner in LLP?

You should amend the LLP Agreement by entering into a Supplement Deed. The LLP Agreement shall provide the details of changes including the additional capital introduced, new profit sharing ratio, and any other insertion or deletion of clauses in the original LLP Agreement. You must file the Supplement Deed with the MCA within 30 days of the date of execution.

Should we pay Stamp Duty on Supplementary Deed?

If there is added capital to the LLP, the stamp duty should be paid according to the added capital in LLP and as per the rate prescribed by the respective state. If there is no capital added in LLP on addition and removal of a partner, the stamp duty of Rs. 100 should be paid.

Whether a partner or designated partner shall contribute in LLP?

While the addition of a partner in LLP, the Partner or Designated Partner may contribute the amount agreed by and between all the partners including present in any form whether tangible or intangible. However, it is not mandatory to bring capital to LLP.

Partnership Firm v/s LLP (Limited Liability Partnership)

One of the common questions a businessman would ask is whether to form a Partnership Firm or a Limited Liability Partnership (LLP). Technically, an LLP has more advantages than a partnership firm. We could say that a Limited Liability Partnership combines some of the advantages of a Private Limited Company with those of a simple Partnership Firm. A business can register an LLP on the MCA Portal.

Limited Liability Partnership (LLP) Registration
Need the help of an expert for LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]
Limited Liability Partnership (LLP) Registration
Need the help of an expert for LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]

Features of Partnership Firm v/s LLP

Attributes Partnership Firm Limited Liability Partnership
Separate Legal Entity Not a separate legal entity Separate legal entity different from its partners
Statute governing registration Partnership Act, 1932 Limited Liability Partnership Act, 2008
Maximum Number of partners Partnership Firm can have a maximum of 20 partners LLP can have unlimited partners
Registration The registration is not mandatory and can be voluntarily done with Registrar of Firms LLP Registration is mandatory and possible online with the Ministry of Corporate Affairs (MCA)
Liability of Partners The partner has unlimited liability. Even the personal assets of the partners can be annexed to pay off the debts of the partnership firm. The liability of partner is Limited. Only the amount contributed by the partners to the firm can be used to pay off the debts of the partnership firm.
External Investment Difficult to obtain Easily Available
Credibility Low High
Audit of Accounts Tax Audit as per provisions of Income Tax Act, 1961 is applicable If Turnover exceeds Rs 40 Lakhs or contribution exceeds Rs 25 Lakhs, a statutory audit is applicable
Statutory Compliance Partnership Firm need not file an annual return LLP must finish annual compliances by filing forms on MCA Portal

FAQs

Can an existing partnership firm be converted to LLP?

Yes.we can convert an existing partnership firm into an LLP. You may simply comply with the provisions of the LLP Act. and fill Form 17 (MCA Form) along with Form 2 (MCA Form) for converting Partnership firm into LLP.

Can an existing company be converted to LLP?

Yes. It is possible to can convert an existing company (Private or unlisted public company)into an LLP and take advantage of Limited Liablity . You may simply comply with the provision of the LLP Act and fill Form 17 (MCA Form) along with Form 2 (MCA Form) for converting your Private/public company into LLP.

Can a listed company be converted to LLP?

No, only private/unlisted public company or a partnership firm can convert into an LLP

RUN-LLP – Apply for Name Reservation for LLP Registration

As part of the registration process of a LLP, it should apply for name reservation through RUN-LLP service on MCA Portal. An LLP can file RUN (Reserve Unique Name) on MCA for the following purposes:

  • To Reserve the name of New LLP,
  • To Change the name of any Existing LLP

Before applying for name reservation, the applicant must check the available names of the proposed LLP before filing RUN form to avoid rejection.

Steps to file RUN-LLP for Name Reservation for LLP Registration

  1. Login to MCA

    Log in to your account on MCA Portal with valid username and password

  2. Navigate to RUN-LLP Service

    Go to MCA Services > LLP Services > RUN-LLP (Reserve Unique Name-LLP)

  3. Select option for name reservation

    Select an appropriate option for reserving a name i.e. for incorporating a new LLP or converting into LLP

  4. Enter LLPIN

    Enter LLPIN i.e. Limited Liability Partnership Identification Number if you are applying for the change of name for an existing LLP

  5. Enter Names

    Enter two proposed names and click on the Auto check

  6. Primary Check for Proposed Name – Invalid

    The system does a primary check for the names entered and displays a message whether it is valid or invalid

  7. Primary Check for Proposed Name

    The system does a primary check for the names entered and displays a message whether it is valid or invalid

  8. Objects of Proposed LLP

    In the comments section, describe the objects of the proposed LLP. The officer would accept or reject the name reservation request based on this description

  9. Attach Documents

    If there are any sectoral regulator approvals, NOCs or any other required documents, the applicant should attach such documents too. Click on Submit

  10. Payment

    The next screen is the payment screen on which a fee of Rs.200 is payable. Once the payment is made, the applicant can submit the request. There is no option to make payment with the PayLater option

  11. SRN generated

    On successful submission, an SRN and a Challan would be generated. The applicant can use the SRN to track the status of name approval on MCA

  12. Acknowledgment Letter

    MCA would send the acknowledgment letter for approval or rejection of the proposed name to the registered email ID of the MCA account from which the applicant had submitted the request

  13. File for Incorporation within 3 months

    The applicant has a period of 3 months to file for incorporation of the LLP from the date of acknowledgment letter received on email

Limited Liability Partnership (LLP) Registration
Need the help of an expert for LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]
Limited Liability Partnership (LLP) Registration
Need the help of an expert for LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]

FAQs

Is DPIN of designated partner required for making an application for reservation of name under RUN-LLP service?

No. The applicant does not need DPIN of the designated partner for making an application for name reservation in the RUN-LLP service. Earlier, it was compulsory to hold a DPIN for making an application for approval of the name of an LLP through Form 1.

Is the digital signature of the designated partner required for making an application for reservation of name under RUN-LLP service?

No. The applicant does not need the digital signature of the designated partner for making an application for name reservation in the RUN-LLP service. Earlier, it was compulsory to have a DSC i.e. digital signature for making an application for approval of the name of an LLP through Form 1.

Changes in LLP Registration Process – RUN-LLP and FiLLiP

The MCA (Ministry of Corporate Affairs) had notified revised rules for LLP effective from 02nd October 2018. It introduced new e-forms and changes to the old process of incorporation i.e. registration of LLP. Here is a brief comparison:

Changes in LLP Registration Process on MCA

Changes

Old Process

New Process
Digital Signature (DSC) To file Form-1 for the name approval, DSC of the designated partner was mandatory The applicant can submit a request for name approval without DSC under new RUN-LLP service [Register DSC on MCA]
DIN/DPIN The applicant needs to file an application for allotment of DIN/DPIN separately through Form DIR-3 The applicant can file an application for allotment of DIN/DPIN together with Form FiLLiP
DIN/DPIN To file Form-2 for incorporation, DIN / DPIN of the signing partner was compulsory To file Form FiLLiP for incorporation, PAN of the signing partner is allowed in absence of DIN / DPIN
Name Approval Application for name approval could be made by filing Form 1 for which DSC and DPIN was mandatory Request for name approval can be made through RUN-LLP service for which DSC and DPIN is not required
Incorporation The incorporation can be applied through Form-2 after the name is approved on filing Form-1 Incorporation and name approval together can be applied for by filing Form FiLLiP
Forms Form DIR-3 – Application for DIN / DPIN RUN-LLP service – Name reservation
Application for Name Approval – Form 1 Name reservation, DIN / DPIN application, Incorporation – Form FiLLiP 
Incorporation of LLP – Form 2 Name reservation, DIN / DPIN application, Incorporation – Form FiLLiP
Registration of LLP Agreement – Form 3 Registration of LLP Agreement – Form 3

FAQs

Is DSC mandatory for LLP name approval?

MCA has revised the LLP registration process effective from 02nd October 2018. In this new process, the LLP name approval form can now be submitted without the Digital Signatory Certificate (DSC) of the applicant.

What is Form FiLLiP under new changes of LLP?

Incorporation and name approval can now be applied simultaneously.
Form FiLLiP allows applicants to request incorporation and name approval both through the sane form.

What has remained constant after the new process of LLP registration?

Form – 5 (Notice for change of name), Form – 17 (Application and statement for the conversion of a firm into LLP) & Form – 18 (Application and Statement for conversion of a Private Company/Unlisted Public Company into LLP) will remain same with minor modifications.
However, RUN-LLP SRN is to be substituted for Form-1 SRN in the relevant field & PAN is allowed to be entered in the DSC section.

What documents are required for registration of LLP on MCA?

MCA introduced an e-form i.e. Form FiLLiP for the process of LLP Incorporation. The new process of incorporation under FiLLiP is much simpler than the earlier incorporation process. Further, the applicant should file Form 3 within 30 days of incorporation to register the LLP Agreement. Applicant should be ready with the required documents for registration of LLP on MCA.

Documents for LLP Registration MCA – Form FiLLiP:

  1. DPIN (Designated Partner’s Identification Number) Application
    If the designated partners do not hold a valid DIN/DPIN, they can apply for allotment of DPIN and incorporation together under Form FiLLiP. Following documents of each designated partner are required:
    • PAN (Permanent Account Number)
    • Aadhar
    • Identity Proof – voters identity card/ passport/ driving license
    • Residential Proof – bank statement/ electricity bill/ telephone bill/ mobile
  2. Copy of Resolution
    If one or more of the partners, designated partners or nominees is a body corporate, submit the following documents:
    • Copy of resolution on the company letterhead to become a partner in the proposed LLP
    • Copy of resolution on the company letterhead to authorize an individual to act as a nominee or designated partner on behalf of the company
  3. Registered Office Proof
    • Proof of address of the registered office
      Utility bill not older than 2 months. It may be a telephone bill, gas bill, electricity bill, water bill, property tax bill or rent agreement in the name of the owner
    • NOC i.e. No Objection Certificate
      A NOC from the owner allowing the LLP to use the premises as its registered office
  4. Subscriber’s Sheet
    It is a document in which all the designated partners provide their consent of forming an LLP to carry out a lawful business with an intention to earn profits. This document is signed by each partner, designated partner, and nominee. It also requires signatures of a witness
  5. Details of LLP or Company
    If the partner or designated partner is a director/ partner in any other LLP or Company, submit details of such LLP or Company
  6. Documents regarding the proposed name of LLP
    • Copy of Board Resolution
      If the proposed name is similar to an existing company or existing LLP, submit a no-objection certificate
    • Approval of the Trademark Owner or Applicant
      If the proposed name is based on a registered trademark or a pending trademark application, submit approval from the owner
    • Approval of Central Government
      If the proposed name includes any prohibited words as per ‘The Emblems And Names (Prevention Of Improper Use) Act, 1950’, submit approval of the central government
    • Approval of the Competent Authority
      If the proposed name includes any word indicating a connection with a foreign place or country, submit approval of the competent authority
    • Approval of the Regulatory Authority
      If the proposed name includes words which require the approval of regulated authorities, submit such approval
  7. Optional Attachment
    Submit any other required information as an optional attachment
Limited Liability Partnership (LLP) Registration
Need help for registration of LLP? We can help you
[Rated 4.8 stars by customers like you]
Limited Liability Partnership (LLP) Registration
Need help for registration of LLP? We can help you
[Rated 4.8 stars by customers like you]

Documents required to file Form 3:

LLP Agreement

It is a written agreement between the partners of LLP. LLP Agreement defines the rights and duties of partners, profit-sharing ratios, partner’s contribution, nature of the business activity, etc. All partners should sign and notarize the LLP Agreement. Once the LLP is incorporated, the LLP Agreement should be registered with MCA by filing Form 3.

FAQs

How much time is involved in the registration process of LLP?

LLP registration process starting can take up to 3-15 days. From obtaining DSC to Filing Form depending upon the availability of all the documents.

Can LLP have directors?

Yes. Just like a company, LLP is a Body Corporate having a separate legal entity. With that being said LLP can have its own internal management structure.

Is passport a mandatory proof to be submitted while LLP registration?

For NRIs and Foreign officials, it is mandatory to submit their passports. It is an identity proof requirement for becoming a partner in any Indian LLP.

What information is required to file Form FiLLiP for LLP Registration on MCA

Form FiLLiP is the form for LLP Registration on MCA Portal. Under this article, we have discussed about the information and details required to file Form FiLLiP on MCA Portal.

Incorporation of an LLP is a three-step process:

  • Application for Name Approval through RUN-LLP service on MCA
  • Incorporation of LLP by filing Form FiLLiP electronically on the MCA Portal
  • Register LLP Agreement with MCA by filing Form 3

Information required to file Form FiLLiP on MCA

  1. Basic information of the proposed LLP
    If the ROC has approved the name of the LLP, details can be prefilled from the SRN of RUN-LLP filed for name approval
  2. Details of partners and designated partners
  3. Details of proposed name or approved name
    • The proposed or approved name
    • The significance of words in the proposed or approved name
    • Names of vernacular languages used in the proposed or approved name
    • If the proposed name is based on a registered trademark or a pending trademark application, details of the trademark or the pending application are required
  4. DIN/DPIN/PAN of the designated partner giving consent to sign Form FiLLiP on behalf of the LLP
  5. Membership Number of the practicing professional attesting Form FiLLiP
Limited Liability Partnership (LLP) Registration
Need the help of an expert for LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]
Limited Liability Partnership (LLP) Registration
Need the help of an expert for LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]

FAQs

Is there any turnover limit for LLP?

Every LLP whose turnover exceeds INR 1 Cr. in case of a business or INR 50 Lakh in case of a profession is required to get its books of accounts tax audited under section 44AB of the Income-tax Act. 

What are the documents required to register LLP on MCA portal?

Following are the documents required to register LLP on MCA portal:
1. DPIN (Designated Partner’s Identification Number) Application
2. Copy of Resolution
3. Registered Office Proof
4. Subscriber’s Sheet
5. Details of LLP or Company
6. Documents regarding the proposed name of LLP
7. Any Optional Attachment

How much time is involved in Registration Process of LLP?

LLP formation starting from obtaining DSC to Filing Form 3 takes approximately 15 days subject to availability of all the documents.

What is Form FiLLiP for LLP Registration?

Form FiLLiP stands for Form for Incorporation of Limited Liability Partnership. MCA introduced Form FiLLiP to simplify the LLP Registration process.

Limited Liability Partnership (LLP) Registration
Need the help of an expert for LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]
Limited Liability Partnership (LLP) Registration
Need the help of an expert for LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]

Features of Form FiLLiP for LLP Registration

  1. The applicant can file Form FiLLiP after MCA approves the name under the RUN-LLP service
  2. Attach documents duly signed by the designated partners and attested by a professional
  3. Fill the required information regarding the proposed LLP
  4. Submit the application for allotment of DIN / DPIN through this form
  5. Under FiLLiP, MCA can allot a maximum of two DINs / DPINs
  6. Attach the DSC i.e. digital signature of one of the designated partners.
  7. If none of the designated partners has DIN / DPIN, the applicant can sign the form using PAN of the designated partner
  8. A professional in practice (CA / CS / CWA / Advocate) should attest to the form.
  9. File the form electronically on the MCA Portal
  10. File Form FiLLiP from the same account on MCA through which the applicant submitted the name reservation request under RUN-LLP service.
  11. Pay the prescribed fee based on the total amount of contribution after filing the form.

FAQs

When is Form FiLLiP required?

Form FiLLiP is required at the time of incorporation of an LLP. Minimum 2 partners are required to incorporate an LLP. The MCA portal of the government has introduced Form FiLLiP to simplify LLP registration in India.

Who will be processing Form FiLLiP for LLP registration?

The form used for incorporation is FiLLiP (Form for incorporation of Limited Liability Partnership). Which will be filed with the Registrar who has jurisdiction over the state in which the registered office of the LLP is situated.

What are the documents required to register LLP on MCA portal?

To register LLP on MCA portal following documents are required:
1. DPIN (Designated Partner’s Identification Number) Application
2. Copy of Resolution
3. Registered Office Proof
4. Subscriber’s Sheet
5. Details of LLP or Company
6. Documents regarding the proposed name of LLP
7. Any Optional Attachment

What is the fee for registration LLP? (E-forms RUN-LLP & FiLLiP)

MCA (Ministry of Corporate Affairs) had notified revised rules for LLP (Limited Liability Partnership) Incorporation. These rules became effective from 02/10/2018. MCA fee for LLP Registration comprises of the following:

RUN-LLP Service – LLP Registration

Request for name reservation of LLP can be submitted through the RUN service on MCA. Details need to be filled online and the request can be submitted on payment of a fee of Rs.200/- There is no PayLater option to make the payment. Before applying for reservation of name, applicant must check the rules for selection of LLP name.

Form FiLLiP – LLP Registration

This is an e-form for the Incorporation of LLP. It should be filed electronically on the MCA Portal. The fee charged depends on the total amount of contribution to start the LLP. There is a Pay Later option under which the user can upload the e-form and generate SRN. Payment can be made later before the last date mentioned on the PayLater Challan.

Amount of Contribution (Rs.) Fees (Rs.)
Up to 1,00,000 500
1,00,000 < contribution < 5,00,000 2000
5,00,000 < contribution < 10,00,000 4000
More than 10,00,000 5000

Form 3 – LLP Registration

This is an e-form for registering the LLP Agreement with the MCA. It should be filed electronically on the MCA Portal. The fee charged depends on the total amount of contribution to start the LLP. There is a Pay Later option under which the user can upload the e-form and generate SRN. Payment can be made later before the last date mentioned on the PayLater Challan.


Amount of Contribution (Rs.) Fee (Rs.)
Up to 1,00,000 50
1,00,000 < contribution < 5,00,000 100
5,00,000 < contribution < 10,00,000 150
More than 10,00,000 200
Limited Liability Partnership (LLP) Registration
Need the help of an expert for your LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]
Limited Liability Partnership (LLP) Registration
Need the help of an expert for your LLP Registration? We can help you out!
[Rated 4.8 stars by customers like you]

Stamp Duty – LLP Registration

There is no stamp duty required to be paid in the entire process of LLP incorporation. Unlike the incorporation of other entities on MCA, LLP Registration Fee does not include Stamp Duty.

Incorporation Fees Calculator
Calculate fees to register your business with MCA in India. Understand form filing fees, registration fees and stamp duty costs to incorporate your business.
Explore
Incorporation Fees Calculator
Calculate fees to register your business with MCA in India. Understand form filing fees, registration fees and stamp duty costs to incorporate your business.
Explore

FAQs

How much time is involved in registration process of LLP?

LLP formation starting from obtaining DSC to Filing Form 3 takes approximately 15 days subject to availability of all the documents.

Is an LLP agreement required to be registered?

Execution of an LLP Agreement is mandatory as per Section 23 of the Act. LLP Agreement is required to be filed with the registrar in eForm- 3 within 30 days of incorporation of LLP.

Is passport mandatory proof to be submitted while LLP registration?

For NRIs and Foreign officials, it is mandatory to submit their passports. It is an identity proof requirement for becoming a partner in any Indian LLP.