Counsel
Ask an expert!
Legal, accounting and compliance advice from qualified professionals.
Yes. As you have mentioned, as an employee in PSU you cannot be Director in a Private limited company nor can you be a Partner in a Partnership Firm/ LLP. However, you can be a shareholder in a Private limited company and one of your relatives like Parents or spouse or children or siblings can be Director in that company. If you want to register a Par...
Wazzeer Professional Network
ProfessionalCan I register my startup if I am a working personnel in a PSU?
I am working in a PSU. Being a PSU working outside is not permissible. But my cofounder is unemployed. We want to register our startup. Can I register my startup with my cofounder? If not, what are other options. Please suggest.
-
Wazzeer Professional Network
ProfessionalYes. As you have mentioned, as an employee in PSU you cannot be Director in a Private limited company nor can you be a Partner in a Partnership Firm/ LLP. However, you can be a shareholder in a Private limited company and one of your relatives like Parents or spouse or children or siblings can be Director in that company. If you want to register a Partnership firm or LLP any of your relatives can become Partner or the said Designated partners in LLP.
There are certain mandatory compliance works one has to execute when starting a business:
1. Register your business - Choose the entity type that best suits your business goals. Read more here.
2. Register your office premise or manufacturing unit under Shops and Establishment.
3. Tax Registration - Any business will have to abide by this.
4. Agreements and Contracts – like Cofounders Agreement, Vendor Agreement
In case you need any help with these, we would be happy to advise you and get your company registered -> "Get Started!"
almost 5 years ago
View answer
Can I register my startup if I am a working personnel in a PSU?
I am working in a PSU. Being a PSU working outside is not permissible. But my cofounder is unemployed. We want to register our startup. Can I register my startup with my cofounder? If not, what are other options. Please suggest.
-
Wazzeer Professional Network
ProfessionalYes. As you have mentioned, as an employee in PSU you cannot be Director in a Private limited company nor can you be a Partner in a Partnership Firm/ LLP. However, you can be a shareholder in a Private limited company and one of your relatives like Parents or spouse or children or siblings can be Director in that company. If you want to register a Partnership firm or LLP any of your relatives can become Partner or the said Designated partners in LLP.
There are certain mandatory compliance works one has to execute when starting a business:
1. Register your business - Choose the entity type that best suits your business goals. Read more here.
2. Register your office premise or manufacturing unit under Shops and Establishment.
3. Tax Registration - Any business will have to abide by this.
4. Agreements and Contracts – like Cofounders Agreement, Vendor Agreement
In case you need any help with these, we would be happy to advise you and get your company registered -> "Get Started!"
almost 5 years ago
Looking to hire a professional from our handpicked community?
Explore our services, submit your request and let us do the rest for you.