What is Udyog Aadhar?
The small and micro industries of India hold a major portion of the growth and development of the economy. These small scale industries are responsible for 45% of the total production of India. To provide support and encouragement to these micro and small enterprises the MSME (Ministry of micro, small, and medium enterprises) in association with the government of India introduced the Udyog Aadhar facility.
Udyog Aadhar is a unique 12-digit number specially given to businesses in India. It is quite similar to the Aadhar identification but it is exclusively for business.
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By having Udyog Aadhar the businesses can take advantage of various schemes and subsidies. They can claim benefits provided by the government for the growth and encouragement of the small, micro, and medium-scale industries.
The MSMEs are the biggest support to the Indian economy. They contribute a large share of the GDP of the country. MSMEs are broadly classified into 2 categories based on their sector which are manufacturing and service.
The government extends various benefits to this sector including tax rebates, simplified borrowing terms, etc. To avail of all these benefits, one must undertake and complete the MSME registration process. MSME registration will help you get loans easily that can further contribute to the growth and expansion of your business.
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All the small and medium enterprises can register themselves by filing an MSME registration form either online or offline. Following are the steps required for MSME registration –
Step 1 – First you have to go on to the official MSME registration website and login there.
Step 2 – Fill in all the necessary details which include your Aadhar number and entrepreneur name.
Step 3 – Once the details are filled you need to validate the details and an OTP will be generated.
Step 4 – After entering the OTP and verifying your details, you will be directed to a form that you have to fill out. Fill all the details carefully without any flaws.
Step 5 – Once the form is filled and checked for errors, you need to submit it and another OTP will be generated. Fill the OTP in your system and complete your application by final submission.
After the completion of your MSME registration, you will receive an MSME Udyam registration certificate. MSME Udyam registration is completed under guidance of the Ministry of MSME and the Indian government. MSME registration and Udyog Aadhar are older terms that were used before July 2020.
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After 1 July 2020, the MSME registration and Udyog Aadhar registration are replaced by MSME Udyam registration. It is a new system called Udyam registration, even if the company has obtained MSME registration, they are required to migrate to MSME Udyam registration.
There is no fee for MSME registration. However, the Udyog Aadhar registration is more convenient and reduces the chances of errors. There is no fee for Udyog Aadhar registration and one can download and print their Udyog Aadhar certificate after successful completion of the registration process.
There are various documents you need for udyog aadhar registration, the list of which is given below. These are all the necessary documents and details that you must have to complete your registration process.
- Aadhar Number
- Name of the owner
- Applicant category
- Business Name
- Organization type
- Bank details
- NIC Code
- Number of employed persons
- Commencement date
What are shops and establishments?
Shops are those areas and premises where goods are exchanged either by retail or wholesale. It includes your offices, warehouses, godowns, shops, stores, etc, that are used to carry out business activities and trade.
Establishments include your commercial, banking, trading, insurance, and administrative establishments in which a person is employed to work in an administrative and servicing capacity. Restaurants, hotels, cafes, cinemas, and Hotels come under this category. The factories and industries do not come under commercial establishments and are regulated by the factory act, of 1948 so they should not be confused.
All the shops and establishments in India are recognized by the shop and establishment act which is different in every state.
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Shops and establishments registration is mandatory for all business owners. They must apply for registration under applicable state law and obtain a certificate of store and establishment registration or establishment license.
The process of MSME registration/Udyog Aadhar registration/MSME udyam registration involves complex documentation and paperwork. It is advised to seek the help of professionals and companies who have expertise in this field. Companies like Lawgical India offer services that will help you register your MSME, shop, or establishment.
The reason to choose Lawgical India for your company’s registration is that they have a team of experts whose expertise lies in this field only. They have the experience and knowledge of how the whole process is done with full efficiency and accuracy. Lawgical India with its fast services can complete your registration process within days from the comfort of your home.