Partnership Firm in Delhi/NCR
Are you thinking to start a new business with a partnership deed? But the issue you are facing is that you do not know anything about working on a partnership firm as you haven't worked on it before and you want to know everything about partnership firm. IF this is your current situation, then do follow this article till the end, as with the help of this article we will discuss what's partnership firm, partnership deep, it's working, registration and almost everything about it thoroughly.
But before moving towards the main points let us first have a look at why do people invest in a partnership firm-
- The first and most important reason because of which people invest in starting a partnership firm is lack of money. If someone wants to start a new business, but he is having a limited amount of money, then starting a company with a partnership deep is one of the best ideas. As in that case, you will have more that one partner who would be able to invest in that company and hence you would be ready to start working on it easily with lesser money also.
- The second reason why people invest in a partnership firm is when two or more than two persons have the same type of ideas with the help of which they can easily handle their new business. At that time also people go for partnership firms.
- The third reason because of which people invest in a partnership firm is to manage the workload efficiently. Just assume that you have some amount of work, if you only handle that work, then it will take more time later when you and one of your partner will also work on it. So with the help of this workload is easily managed and within a short interval of time too.
Although there are various other reasons also, but these are some of the most important reasons because of which people go for a partnership firm.
What is Partnership deed?
As you all must have known that what’s a partnership fir, it is a type of firm, which is started or created by two or more persons combined who are the owners of a particular percentage of that business. But do you know what a partnership deed is?
So partnership deed is a legal agreement with the help of which it is made sure that who are the partners of a company, how much percentage of that business both or more persons have and as these are legal forms, so everything written on them would be the real truth.
Nowadays, when you are working on a partnership firm, in those cases having a partnership deed is one of the most important things. Here are some of the reasons which say that partnership deed is a must-
- When you are working or going to work for a partnership firm at that time, you need a partnership deed with the help of which everybody would be able to know who are the partners of that company and how many percentages of that company that person owns.
- If you ever faced a time where your business partners start assuming that the whole business is his and you are just a worker. At that time, you can also take help from the partnership deed, with which everything will be cleared easily.
- Partnership deed help in getting rid of any conflict between the partners of that company. Moreover, with the help of this, both the partners can make sure how much profit ratio both will gain and many more such things.
Partnership Firm Registration-
Let us now have a look at the process of Partnership firm registration. Here is the list of documents and details you would need to fill in the partnership deed-
- Firstly you would have to fill the name of partners who are going to handle that particular business.
- You would also have to fill the details regarding the nature of your business.
- The main address of your business would be needed.
- Partnership duration is also needed. In which you can share for how much time you want your business under the partnership, it can be noted a forever partnership even.
- Salary of partners and other such details are also needed while filling the partnership deed.
- Terms and condition for various things are needed, which both the partners or the current owner can create.
- Various guidelines in case of disputes should also be told while the form filling process.
These were some of the details that you needed while form filling process, let us now more to the actual process of Partnership deed registration.
- The first step in the process is to fill the partnership deed form in the registrar office. You can even fill this form online, as everything could be done quickly online in a safer and fast way.
- The next thing needed in the process is a signed copy of terms and conditions by all the partners. Partners can be one or more than one.
- Partnership deed registration fee to be deposited in the next step.
- When your file for partnership deed is approved, you and your partner will be provided with a certificate of incorporation.
- With the help of that certificate, you would be able to let everyone know about the partners of that particular business.
Importance of Partnership firm-
Here is the list of advantages of a partnership firm-
- The first and most crucial advantage of partnership firm is that it is efficiently created, which means partners can manage different work easily.
- A partnership firm is easy to manage, and the workload will be distributed between the number of partners.
- Moreover, if the business ever faced any loss or risk at that time, also you would be able to distribute those things within your partners, and hence, the overall stress on a person would be lesser.
- In a partner goes somewhere out, then in a partnership firm, the work will not stop as there would be another partner for handling that work and hence overall working will never end.