Udyog Aadhar Registration
The MSME Act 2006 promoted and empowered the incorporation of MSME(micro, small, and medium enterprises) in India. These MSME enterprises are businesses that manufacture, process, store, or produce goods and services. Any business can only belong to the category if it belongs to the service or manufacturing sector. It is upon the Ministry of MSME to regulate and monitor MSME operations in India and also overlook the benefits granted to them under various schemes. Constant evolution and growth of the MSME sector have promoted its contribution to India's economy and have increased it up to 27% of the total GDP of India. Moreover, MSMEs are also crucial in providing employment opportunities to the workforce in India.
However, no random business can be regarded as an MSME as there is an official udyog aadhar registration process and eligibility criteria to be a part of this sector. This post covers the udyog aadhar registration online process and enlists the eligibility criteria to apply for the same.
Eligibility Criteria for Udyog Aadhar Registration Online
Various udyog aadhar facilities across India operate to promote and benefit MSMEs. While the Udyog aadhar certificate is similar to Aadhar Card, it is only identification proof for MSMEs in India. This udyog aadhar certificate allows MSMEs to avail of various benefits offered by the government to extend its support to them. Since there are many official procedures attached to udyog aadhar registration, there is an obvious question regarding the eligibility of this process.
Below, we have mentioned the threshold amount for investment and turnover in a business that classifies it as a micro, small, or medium enterprise. Only the businesses that fall under this classification can apply for udyog aadhar registration online.
- Micro Enterprise: The threshold amount for investment is up to INR 1 crore, and for turnover is up to INR 5 crore.
- Small Enterprise: The threshold amount for investment is between INR 1 to 10 crores, and turnover is between INR 5 to 50 crores.
- Medium Enterprise: The threshold amount for investment is between INR 10 to 20 crores, and turnover is between INR 50 to 100 crores.
So, the businesses that fall under the above classification for threshold amounts of turnover and investment can move ahead to apply for udyog aadhar registration online. However, these businesses can only belong to the manufacturing or services sector. Moreover, there is no eligibility for udyog aadhar registration based on the type of MSME, and it can be anything from a partnership, sole proprietorship, private, public, limited liability company, or more.
While the udyog aadhar registration online is still not mandatory for MSMEs, it is necessary to enjoy all the benefits offered by the government.
Procedure for Udyog Aadhar Registration Online
Now that we have explained who can apply for MSME registration online, let us go through the steps of applying for the same:
- Go to the official portal of the MSME website and log in with your credentials.
- Now, if you are applying for MSME registration for your business for the first time, select the option of new entrepreneurs.
- You will then be navigated to a screen that asks for your Aadhar Card number and name.
- When you submit the details, a disclaimer will pop up asking for your validation of the information you have entered. Check that disclaimer box and click the "validate and generate OTP" option.
- After you enter the OTP sent to your registered mobile number, your information gets validated, and you are navigated to the detailed application form.
- Now, enter the necessary details of the business, like its name, type, National Industry Classification Code, activities, and more.
- Proofread the information you have entered and submit the form.
- After you submit it, enter the OTP that you receive on your registered mobile number.
- Proceed to click submit button to complete the application.
After completing this application form, you also have to furnish the Udyog Aadhar Memorandum (UAM), the company's bank account details, your Aadhar Card details, and a self-declaration form that validates the existence of your business. After the successful MSME registration, you will receive your udyog aadhar number on the registered mail id. When you log in to the official portal again with this number, you will be able to download your udyog aadhar certificate.
Information Required for Udyog Aadhar Registration Online
Enter the following in your application form during the udyog aadhar registration process:
- Aadhar card details
- Name and social category
- Business name
- Business Entity
- Bank details
- Business activities
- NIC Code
- Number of payroll employees
- Date of commencement of the business
Conclusion
Based on the information provided below, you can infer that any business from the manufacturing or service sector falling under the prescribed threshold criteria for turnover and investment can apply for udyog aadhar registration in India. If you require assistance through this registration process, you can contact Lawgical India to reach its team of legal experts who have been providing specialized online legal services for years.
