Like every other company, Nidhi Company Annual Compliance is also done annually to avoid penalties under the law for non-compliance. The statutory compliances are disclosed in Nidhi Rules 2014 and the Companies Act 2013 and it has to be done once after the Nidhi Company Registration. Escape from heavy penalties with timely annual Nidhi Company Compliances with Kanakkupillai!
What are company compliances?
Company law provides legal compliance that is required to be followed by every company like reporting of financial results, reporting of changes in management, maintenance of statuary registers, auditing of accounts, etc.
How does Nidhi company make a profit?
The main aim of Nidhi Company can only be of nurturing the habit of caution and savings among its members, receiving deposits from them, and lending money to its members only for their mutual benefit. The ratio of Net Owned Fund to deposit should not be more than 1:20