Procedure for setting up a trust
I need guidelines / procedures for setting up a trust for issuing and managing ESOPs for employees. We are a small company with around 100 staff.
Other documents required
- Detail of all members or trustees of the trust with their address and PAN no.
- Certified true copies of the Institution’s Registration Certificate
- Certified true copies of Laws & by-laws of the Institute
- Copy of income tax registration certificate.
- Audited Balance Sheet and Income & Expenditure account with Audit Report of last 3 years
- The original copy of Trust Deed evidencing the creation of the Trust.
- Shares of the company can be held by the Trustees is held as beneficial owners. Hence Form 22-B declaring beneficial ownership has to be filed with ROC. (Sec 153 of Companies Act).
Need to talk to a lawyer?
Book a phone consultation with a top-rated lawyer on Lawfarm.