The Ministry of Micro, Small, and Medium Enterprises has created a strategy called Udyog aadhar in conjunction with the Government of India to make the process of forming a Micro, Small, and Medium Enterprise (MSME) easier.
Previously, the udyam registration procedure was complicated and time-consuming due to the management of a large amount of documentation. The introduction of Udyog aadhar Registration, on the other hand, has altered the procedure to some extent and enhanced the registration process for medium, small, and micro-enterprises.
The Udyog aadhar registration procedure will be discussed, as well as how it has impacted the process of MSME business registration, eligibility criteria, registration process, and what is Udyog aadhar Memorandum.
What is the Udyog Aadhar number?
Udyog Aadhar is a government-issued certificate that certifies small and medium-sized companies or organizations. The major goal of this facility is to give maximum benefit to Micro, Small, and Medium Enterprises that are registered under Udyog aadhar Registration. It grants recognition and a unique number.
The applicant (Proprietor, Partner, or Director) will give his or her aadhar Number when enrolling for the Udyog aadhar registration procedure. The applicant must obtain a certificate of recognition from the MSME registration process. Munmun Dhamecha
The purpose of the Udyog aadhar Memorandum System:
The Udyog aadhar Memorandum System was created in response to the flaws in the previous EM-I/II (Entrepreneur Memorandum) system. Previously, businessmen preferred a heterogeneous system.
Previously, entrepreneurs had to rely on the national platform to complete MSME registration, but certain states had their own portals.
As a consequence, the old system was phased out and Udyog aadhar Registration was implemented.
Who is eligible to register for Udyog Aadhar?
The following groups are eligible for Udyog Aadhar registration:
- Investment in plant and machinery in the manufacturing sector is limited to Rs. 25 lakhs.
- Investment in equipment in the service sector is limited to Rs. 10 lakhs.
- Manufacturing Sector: Investment in plant and machinery is limited to Rs. 5 crore.
- Equipment investment in the service sector is limited to Rs. 2 crore.
- Manufacturing Sector: Investment in plant and machinery is limited to Rs. 10 crores.
- Investment in equipment in the service sector is limited to Rs. 5 crores.
Udyog aadhar Registration Procedure:
The Udyog Aadhar registration procedure is incredibly easy and takes very little information. An applicant must have an aadhar number in order to register for Udyog aadhar.
In addition, an applicant must complete the following procedures in order to register for Udyog aadhar:
- Visit the udyam registration portal.
- The required information, as well as the aadhar number and the applicant’s name, must be entered in the form.
- After entering the required information, click Validate and Generate OTP and enter the OTP that was sent to the registered cellphone number.
- After successful verification, an applicant will be forwarded to the form.
- The following valid information must be provided by an entity.
- ‘Enterprise Name’ and ‘Type of Organization,’ ‘Primary Business Activity,’ Total Investment, and District Entity Number
- After you’ve finished, double-check the information to be sure it’s correct.
- Click the ‘Submit’ button at the bottom of the page after scrolling to the bottom.
- Your registered cellphone number receives another OTP.
- To finish the application process, click the ‘Submit’ button.
Particulars Required for Udyog aadhar:
- Personal Information of the Applicant (Name and aadhar details)
- For the social category, a document is required as evidence.
- The entity’s name.
- Entity type and business activity
- Proof of Address and Bank Account Information
- National Industrial Classification Code (NIC Code)
- The current number of employees employed by the business.
- Applicant’s phone number and email address
- The entity’s PAN number as well as the entire investment made in it.
The registration of MSMEs and SMEs with Udyog aadhar is a straightforward and quick procedure with no registration costs. It benefits the entity in a variety of ways, including financial assistance and additional government subsidies. Udyam aadhar registration aids in infrastructure development and company expansion.