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MLM Is Legal In India… What you should know?

If you want to join legal Network Marketing Company in India this will help you. There are some way through you can be sure about the legal part of the company.

1 The Prize Chits and Money Circulation Schemes [Banning Act 1976)
MLM business is governed by Indian Prizes and chits act. The company needs to obtain Reserve Bank of India Certification. Make sure you go through this site as many times as possible.
The Prize Chits and Money Circulation Schemes [Banning Act] 1978 [No. 43 of 1978] does clearly mention the basic guidelines (what not to do). The certificate from RBI is needed by MLM or non MLM companies from other companies wanting to open a bank account in India after clearance from FIPB.
Under section 13 of the act it states that the state government has to power to make rules. Hence to be on the safer side makes sure the company offices in your territory have proper documents supporting this requisite.
2 Ministry of Corporate Affairs India
You can also check whether your network marketing company is a legal one registered in India.
Visit Ministry of Corporate Affairs at http://mca.gov.in/MCA21/index.html
3 Federation of Indian Chambers of Commerce and Industry
Check if you company is registered with FICCI
visit Federation of Indian Chambers of Commerce & Industry at WWW.FICCI.COM

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