List of Top 10 Section 8 companies in India 2023
There are different types of companies in India which are categorised as Section 8 Company, Private Limited company, Limited Liability company, Public Limited company, and so on. In this article we will discuss the List of Top 10 Section 8 Companies in India 2023.
The main purpose of all the companies is profit making and business expansion, but there are some types of companies like a Section 8 company which can be registered as an NGO. The main objective of section 8 companies in India is not to generate profits but to help and promote the welfare of others in different sectors like education, science, technology, art, culture, etc. There are many section 8 companies in India which are working for the welfare of the Nation by uplifting the underdeveloped portion of the society. We will be sharing a list of top 10 section 8 companies in India 2023 later in this article.
Table of Content
- Definition of Section 8 Company
- Features of Section 8 Company
- List of Top 10 Section 8 Companies
- Section 8 Company Registration
- Related Articles
Definition of Section 8 Company
A section 8 company in India comes under the jurisdiction of the Ministry of Corporate Affairs through the Companies Act, 2013, which states that a Section 8 company is registered in India with the aim of providing benefits to the society by engaging in the promotional activities in the fields of Research, education, human resource development, nutritional benefits, etc.
These companies should not aim at generating profits through any means, but if they are into some manufacturing industry and making some profits then those profits must be utilised in the business only, it can not be shared among the members or the shareholder of a section 8 company.
List of Top 10 Section 8 Companies in India
The list of Top 10 Section 8 Companies in India are:
Tata Trusts is one of the oldest and largest non-profit organizations in India, established in 1892 by Jamsetji Tata. The Trusts work towards various causes such as education, healthcare, rural development, and livelihoods. It also supports various institutions and organizations across India to enhance their capacity and impact.
Azim Premji Foundation:
Azim Premji Foundation was founded by the renowned philanthropist and business magnate, Azim Premji. The foundation works towards improving the quality of education in India, particularly in government schools. It also runs various programs to support sustainable rural development.
Bill and Melinda Gates Foundation India:
Bill and Melinda Gates Foundation India is the Indian arm of the Bill and Melinda Gates Foundation, established by Microsoft co-founder Bill Gates and his wife Melinda Gates. The foundation works towards improving global health, reducing poverty, and enhancing education opportunities. In India, it focuses on issues such as improving maternal and child health, enhancing agriculture productivity, and supporting sanitation and hygiene initiatives.
Oxfam India is a non-profit organization that works towards addressing poverty and inequality in India. It focuses on issues such as economic inequality, gender justice, and humanitarian response. Oxfam India also works towards promoting sustainable development and advocating for policy change.
Smile Foundation is a non-profit organization that works towards providing education, healthcare, and livelihood opportunities to underprivileged children and youth. It also supports disaster relief and response initiatives across India.
Child Rights and You (CRY):
CRY is a non-profit organization that works towards protecting the rights of underprivileged children in India. It focuses on issues such as child labor, child marriage, and child abuse. CRY also supports community-driven development programs to enhance the well-being of children.
Aga Khan Foundation India:
Aga Khan Foundation India is a non-profit organization that works towards improving the quality of life of marginalized communities in India. It focuses on issues such as education, healthcare, livelihoods, and cultural heritage preservation. The foundation also supports disaster relief and response initiatives.
GiveIndia Foundation is a non-profit organization that works towards promoting philanthropy in India. It connects donors with credible and effective NGOs across India to support various causes such as education, healthcare, and livelihoods.
Pratham Education Foundation:
Pratham Education Foundation is a non-profit organization that works towards enhancing the quality of education in India. It focuses on improving basic reading, writing, and arithmetic skills among children in government schools. Pratham also supports vocational training programs to enhance livelihood opportunities for youth.
HelpAge India is a non-profit organization that works towards enhancing the well-being of elderly people in India. It provides healthcare, livelihood, and social protection services to elderly people across India. The organization also advocates for policy change to improve the status of elderly people in India.
Features of a Section 8 Company
Here is the list of some key features of a section 8 company:
The purpose of a section 8 company is not to generate profits through any sort of business transaction, if in any case they are generating profits, then that cannot be shared among its members.
Minimum share capital Requirement
There is no minimum share capital requirement for setting up a Section 8 company.
The members of a section 8 company enjoys limited liability that means in case of any losses in the company they are not liable to personally pay for it.
A section 8 company enjoys various exemptions from the government due to the nature of their operation.
Section 8 company Registration Online
A Section 8 company can be registered online by applying and submitting documents on the portal of the Ministry of Corporate Affairs and getting approval from the same. The registration is subject to various checks and validations from the ministry and the complete process might take around 7-10 working days. To register a Section 8 company the fees required is around Rs 4,999 which includes Government fees as well as professional fees.
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We have shared a list of top 10 section 8 companies in India 2023, and if you wish to set up your own section 8 company in India, you can connect with our team at Professional utilities. We will help you register your section 8 company at the minimum cost in the industry and will do all the documentation part for you.