Contribution as per the lexicon interpretation means “Part or Share”. In reference to LLP, contribution can be termed as, What a partner is contributing towards the Limited Liability Partnership for running of his business.

Contribution  in case of LLP is alike Share Capital in case of Company.

A contribution of a partner may consist of tangible, movable or immovable or intangible property or other benefit to the limited liability partnership, including money, promissory notes, other agreements to contribute cash or property, and contracts for services performed or to be performed.

Yes, the Contribution  of LLP would be provided under the LLP Agreement and the same can be increased by way of amendement in the LLP Agreement.

Section 32 (2)  specifically prescribes that the monetary value of contribution of each partner shall be accounted for and disclosed in the accounts of the limited li¬ability partnership in the manner as may be prescribed. In case the contribution is in intangible form, the value of the same shall be certified by practicing CA/CWA or a valuer approved by the Central Government.

Yes and in that case the ownership will be determined by contribution and in case of nil contribution the ownership can be determined as per the agreement or in the absence of agreement it should be equal.

The Law is silent but the flexibility for addition or deletion is provided through the LLP Agreement. Section 33 (1) of the LLP Act 2008,specifies that the obligation of a partner to contribute money or other property or other benefit or to perform services for a limited liability partnership shall be as per the limited liability partnership agreement.

Yes, but the terms and conditions for such withdrawal shall be provided in the LLP Agreement.

There is no  provision under the LLP Act 2008 for reduction of the contribution  but the same  can be reduced in the manner provided under the LLP Agreement.

As per the LLP Act 2008, the LLP Agreement will define the requriement related to contribution and therefore , the LLP Agreement may also provide for NIL contribution from the Partners. So, LLP can also be incorporated without any contribution from the partners but this scenario has its own practical problems.