Udyam Registration

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UDYAM REGISTRATION

The Union Ministry of Micro, Small and Medium Enterprises (MSME) has introduced a new process of classification and registration of MSME Enterprises under the name of ‘Udyam Registration’ on July 01, 2020.

WHO SHOULD APPLY FOR ONLINE UDYAM REGISTRATION?

  • Any person who intends to establish a micro, small, medium enterprise may file online udyam registration.

DOCUMENTS REQUIRED FOR UDYAM REGISTRATION ONLINE

  • The Online Udyam Registration application process is based on self-declaration, and there is no further requirement to upload any documents, certificates, papers, or proofs.
  • The user will only need to provide their 12-digit Aadhaar Number, Pan Card and Bank Account details of Business for the registration process.

UDYAM REGISTRATION BENEFITS

Following are some of the benefits of Udyam Registration

  • Easy Bank Loan upto 1 Cr without Collateral/ Mortgage
  • Special Preference in Procuring Government Tenders
  • 1 percent Exemption on interest rate on Bank Overdraft (OD)
  • Concession in Electricity Bills
  • Protection against the delay in payment from Buyers
  • Tax Rebates
  • Special 50 percent discount on Government fees for Trademark and Patent
  • Fast Resolution of Disputes

ESIC

Employee's State Insurance Corporation

It's a self-financing social security and health insurance scheme for Indian workers. Companies having more than a certain number of employees must register under ESIC and contribute a percentage of the employee's salary towards this fund.

EPF is a retirement benefits scheme applicable to organizations with a specific employee count. Both employers and employees contribute a portion of the employee's salary to this fund, providing financial security upon retirement.

EPF

Employee Provident Fund