Udyam Registration - Online Process
MSME stands for Micro, Small and Medium enterprises. In a developing countries like India, MSME Industries are the backbone of our economy. When these industries grow, the economy of the country grows as a whole and flourishes. From 1st July, 2020 MSME registration is replaced by the Udyam registration. Udyam registration certificate will be issued to the entrepreneurs after the completion of registration process.
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Udyam Registration in India
According to the notification of MSME dated 26.06.2020, MSME registration has been replaced by Udyam registration that is launched by the ministry of MSME i.e. effective from 1st July, 2020. Udyam registration is a portal of Government where no additional documents or certificates are required to attach in order to register under MSME. It becomes very easy to register under Udyam and also a paperless work after this online process.
All existing enterprises who is registered under EM- II or UAM shall register again on Udyam registration portal on or after 1st July, 2020. The existing enterprises who is registered before 30th June, 2020 shall be valid upto 31st March, 2021.
Benefits of Udyam registration
The benefits of Udyam registration are:
- Due to the Udyam registration process certificate, an enterprise takes loans from the bank at a lower interest rate.
- There are various tax rebates offer to MSME entreprenuers.
- There are many government incentives that are only available for MSME industries.
- They get easy access to credit.
- There is no registration fee.
- Businesses registered under Udyam are given a higher preference for government license and certification.
- Industrial promotion subsidy.
- Protection against delay payment.
Udyam registration process
Documents required for Udyam registration process
These are some documents which are required for Udyam registration:
- 12 digit aadhaar number of an entrepreneur
- PAN number of an entrepreneur
- Mobile Number
- Mail ID
- Bank account details like Bank name, IFSC code and Account number
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Basic Features to Read before starting private limited company
The private company is required to add the word “Private Limited” or “Pvt. Ltd.” to the end of its name. A private company should have at least two member and two directors. Private company has right to issue debentures to any number of persons.
Features of Public Limited Company
MCA provides the facility for the incorporation of the public limited companies. For incorporation, firstly apply for name through RUN (Reserve Unique Name) on the MCA portal. After the availability of name from ROC we should file incorporation form i.e. Spice 32, INC 33(for eMOA), INC 34(for eAOA), .