Aadhar Udyog
In recent times, for boosting small-scale businesses in the country, the Government of India had initiated the Udyog Aadhaar Registration (UAM) process. However, currently, the Udyog Aadhaar Registration is migrated to Udyam Registration. The MSME’s (Micro, Small and Medium Enterprises) have to apply for Udyam Registration to obtain the benefits provided to MSME by the government.
Earlier, if you wished to start a business and get SSI Registration or MSME Registration, you needed to go through a lot of paperwork. You needed to fill 2 forms: Entrepreneur Memorandum-I and Entrepreneur Memorandum-II (EM-II). The Udyog Aadhar Registration was initiated to simply the MSME or SSI registration. Industries registered with Udyog Aadhar became entitled to receive the benefits of several government schemes such as subsidies, easy loan approvals etc.
Udyog Aadhar Registration
Udyog Aadhaar Registration Certificate Download
Udyog Aadhaar or MSME registration is a certificate that is provided to micro, small and medium sized businesses in India under the MSME Act, 2006. Udyog Aadhaar used to be referred as MSME registration earlier.
Lately, then process has been merged with Udyog Aadhaar registration and the application can be made online. The primary objectives of the Micro, Small, and Medium Enterprises concerning the Udyog Aadhaar registration are as follow:
- To enable the micro, small and medium enterprises to compete with international competition efficiently;
- To promote the growth of micro, small and medium enterprises on a large scale to effectively tackle the widespread problems of unemployment and poverty;
- To extend the benefits of various government scheme at one stop to the SSI units;
- To safeguard SSI from financial harassment in the hands of big industries.
Documents Required
To Obtain Udyog Aadhaar Registration in case of proprietorship the applicants personal Aadhaar is the main requirement. Apart from this only the email and mobile number are required.
- In case of proprietorship the applicants Aadhaar is mandatory.
- In case of a Partnership the partners Aadhaar can be used.
- In case of a Company, the Directors Aadhaar can be used.
- In case of LLP, the Designated Partners Aadhaar can be used.
If an applicant or an authorised signatory of a business does not have Aadhaar then he or she must first apply for Aadhaar at an Aadhaar enrolment centre. Once, the Aadhaar is obtained the Udyog Aadhaar process can be started.
Benefits of Registration
- Udyog Aadhaar registration has simplified the process of registering the businesses under MSMEs but there are some additional benefits to it.
- Bank loans can be availed at a lower rate of interest, also in some cases the bank loans can be availed without collateral or mortgage.
- The applicant is also available for government subsidies.
- The applicants gets financial support for participating in foreign expos to showcase their products.
- Udyog Aadhaar registration also reduces the cost of setting up the business or patenting.
- There are also various tax rebates and exemptions for small and medium enterprises that have done Udyog Aadhaar registration.
- There are tariff subsidies which can be availed along with capital and government subsidies.
- Licenses, approvals and registration become easier with Udyog Aadhaar registration.
Benefits of Aadhar Udyog
Authentication
Helpful in authenticating the personal information details of the individual holder when conducting business online.
Reduced Cost and Time
Instead of signing the hard copy documents physically and scanning them to send them via e-mail, you can digitally sign the PDF files and send them much more quickly. A Aadhar Udyog holder does not have to be physically present to conduct or authorize a business.
Data Integrity
Documents that are signed digitally cannot be altered or edited after signing, which makes the data safe and secure. The government agencies often ask for these certificates to cross-check and verify the business transaction.
Authenticity of Documents
Digitally signed documents give confidence to the receiver to be assured of the signer’s authenticity. They can take action on the basis of such documents without getting worried about the documents being forged.