Udyog Aadhaar is a twelve-digit unique identification number given by the Ministry of Micro, Small, and Medium Enterprises (MSME). India’s government has provided the Udyog Aadhar Registration for small and medium enterprises since September 2015.
It’s also known as Aadhaar for Business. Over 48 lakh MSMES in India were registered under this as of July 2018.
Contents
Objectives
- The main objective of Udyog Aadhaar is to track the small and medium industries legally.
- Earlier, this registration process was complicated and significant, so many small and medium enterprises (MSMES) didn’t show interest and ran away.
- Now, it is straightforward to register for this process.
- People show interest in starting their businesses by encouraging small and medium-sized companies (MSMES). The number of employees also increases, unemployment in the country decreases, and people will get new opportunities.
- By this Udyog Aadhar, India’s government wants to increase companies’ competition to become financially healthy. The company’s thinking also moves ahead, which will benefit the country.
Udyog Aadhaar Benefits
- Exemption under Direct Tax
- Excise exemption
- 50% reduction of the fee for filing patents and trademarks
- Protection from delayed payments
- Credit guarantee scheme
- Loans with low interest and without a guarantee
- The government of India gives Financial Support to participate in foreign business exposure.
- To increase the company’s revenue, the government provides subsidies
- Electricity bill concession
- Exemption when applying for government tenders
- Octroi benefits
Eligibility for Registration
India’s government offers loans for the Udyog Aadhaar-based industries for manufacturing and service sector businesses (MSMES).
Micro Industries
India’s government will provide investment for manufacturing industries of up to Rs 25 lakh for plant and machinery, and service industries investment up to Rs 10 Lakh or equipment.
Small Industries
The government will provide Rs 5 crore for the manufacturing industry’s investment in plant and machinery and Rs 2 crore for the service industry’s investment in equipment.
Medium Industries
The Indian government provides Rs 10 crore to manufacturing companies for plant and machinery, and the service company invests Rs 5 crore in equipment.
Documents Required
- Personal Aadhaar number
- Name of Owner
- Category of Applicant
- Name of the business
- Type of organisation
- Bank details
- Key activity
- National Industrial Classification Code
- The number of persons employed.
- Date of commencement
- Details of DIC
How do the Udyog Aadhaar Online Registration
It is an entirely online process, and it is for individuals who have micro/small/medium enterprises. The process is quite simple. Udyam registration is the updated version of Udyog Aadhaar registration.
- Individuals have to visit Udyog Aadhar’s official website.
- A form opens, enters the Aadhar number, ensures the mobile number is linked with Aadhaar, and clicks on the “validate/generate OTP.”
- After validating the OTP, select the social category.
- Suppose the applicant has more than one entity. In that case, every enterprise must be registered separately with the same Aadhaar card and registered as Enterprise 1, Enterprise 2, etc. Select the type of organisation.
- Fill in the business’s details, such as complete address with the district, PIN, mobile number, email ID, and other information.
- Enter the Date of Incorporation, bank account number, IFSC code, and type of business, whether manufacturing or service. If the company is into both, mention the significant activity.
- Mention the total number of employees working with the company’s paid salary/wage. Also, mention the total amount of investment in your business.
- Select the DIC (District Industry Centre) from the list and accept the declaration form.
- After entering the details, check once and click the “submit” button to generate the OTP sent to the registered email ID.
- Enter the TP and complete the registration using the acknowledgement number.
FAQs
Udyog Aadhar is a recognition certificate of an enterprise that is used to register its business under this. It is a Unique Identity Number that certifies micro, small, and medium businesses (MSME), for which the companies get bank loans at lower interest.
To download the registration certificate, go to the website or click here. Now, enter the UAM and registered mobile numbers per the Udyog Aadhar certificate and click submit.
