We know this fact that MSME contributes 95% of the Indian Economic growth. As we all required Aadhar card for identification of the Government of India. Similarly, the Government of India has initiated Udyog Aadhar registration for boosting the business in India especially for small- scale businesses.
Before going to the depth, let’s understand what is Udyog Aadhar Registration?
Udyog Aadhar Registration:-
It is basically the identification system similarly as Aadhar but this is for the businesses. A new initiative by the Government of India for supporting small- scale businesses. The idea behind this is to simplify the procedural format that business owners had to undergo while registering their businesses under Micro, Small, Medium Enterprises or MSME.
Before the introduction of Udyog Aadhar registration process, if anyone wishes to start a business and get register in MSME, they were required to fill two forms:- Entrepreneur Memorandum-I and Entrepreneur Memorandum II. This procedural format was the same but quite hectic and a time-consuming process which required handling of a lot of paperwork. However, with the inception of Udyog Aadhar registration process, things have changed to some extent and improved the registration process of MSME.
Now, you can easily register your Micro, small or medium business free of cost online by registering your MSME via UAM (Udyog Aadhar Memorandum). Industries or Enterprises entitled under Udyog Aadhar will receive numerous benefits of several government schemes such as subsidies, easy loan approvals etc. After submitting this UAM form, an acknowledgment form is released to the registered e-mail id of an applicant containing a unique UAN (Udyog Aadhar Number).
Eligibility criteria for Udyog Aadhar Registration Process:-
Almost every type of business can obtain Udyog Aadhar. Be it Hindu Undivided Family, Private Limited Company, One-person Company, Partnership Firm, Production Company, Limited Company, Proprietorship, co-operative societies or any association of persons can get its UAN number. But, your enterprise or business should meet the criteria classified as per the new guidelines issued in May, 2020 by the Government of India for MSME registration.
Salient Features and Benefits of Udyog Aadhar:-
- No Documentation is required
- Registration is online and user- friendly
- No fee for registering
- Udyog Aadhar Memorandum can be filled on self- declaration basis.
- More than one Udyog Aadhar can be filed with the same Aadhar number.
- Receive all the benefits of government schemes such as an easy loan, loan without guarantee, loans with subsidized rates of interest, etc.
- Access to the financial support for participating in foreign expos to showcase their products.
- Allowed to access all exclusive government subsidies.
- After registration, applicate will get facility to open hassle-free current bank accounts in the name of the business.
- Ability to apply for government micro business loans and other related schemes.
- 50% fee reduction for filing patents and trademarks.
- Exemption under the direct tax laws.
- Benefits under the credit guarantee scheme.
- Octroi Benefits.
- Subsidy to increase the company’s revenue.
- Discount in electricity bills.
- Protection from the delayed payments.
- Excise exemption.
- Exemption when you applies for government tenders.
- Unsecured loan with lower interest rates and many more.
Documents required for Udyog Aadhar registration:-
Documents required to fill the online application form for UAN number are as follows:-
- Name and Aadhar number of business owner (as mentioned in the Aadhar card). This Aadhaar number in case of Proprietary Enterprise must be of the Managing Partner, of Authorised Partner for Partnership Enterprise and of Authorised Person for Other forms of Enterprises.
- Name of the organization or enterprises.
- Previous MSME registration details of your enterprise (if any).
- Documents required as proof for SC, ST, OBC or any other social category.
- Type of Business entity or Legal Entity that you own. (Proprietorship, Partnership Firm, Hindu Undivided Family, Private Limited Company, Co-Operative, Public Limited Company, Self Help Group, LLP, Others)
- Current Account bank details including your bank details and IFSC code.
- Current Postal Address of the business for communication purposes including contact numbers and email address.
- National Industrial Classification (NIC) code must be entered from the National Industrial Classification Handbook. The applicant might select multiple National Industrial Classification-2008 (NIC) Codes for including all of its activities.
- The number of employees in your business or company.
- Details of the total amount of investment in terms of machinery and equipment by the business.
- PAN number and E-mail id and mobile number of the applicant.
- Details of the nearest District Industry Centre (DIC) code if needed.
Application Procedure for Udyog Aadhar Registration:-
For filing your business or enterprise under Udyog Aadhar, find the step by step process as listed below.
Step 1:- Go to the official website of Udyog Aadhar Portal http://udyogaadhaar.gov.in
Step 2:- Enter your personal details and a twelve-digit Aadhar number and click on “Validate Details” to generate the One- Time Password (OTP).
Step 3:- If you received an OTP then enter in the blank column and proceed for next step. Otherwise, start linking your mobile number with Aadhar.
Step 4:- On the registration page, Enter your and your business details along with bank details, NIC and DIC code.
Step 5:- Once all the details are filled, verify the information, and click on submit button. An OTP will be generated on your registered mobile number. Verify the OTP and captcha code required.
Step 6:- An acknowledgment letter of your registration generated by the government which is mailed to your registered e-mail id and can be used as future preferences.
We hope the above details will help your business in boosting to get UAN number. So, now register your enterprise as Udyog Aadhar easily and enjoy the benefits.