16 Benefits of Udyam Registration

16 Benefits of Udyam Registration

As per the notification issued by the ministry of micro small-medium enterprises on 1st June 2020, MSMEs will now be known as Udyam. And the registration process for an organization as an Udyam will be called Udyam Enrollment Registration. Government Udyam Registration portal is a self-declaration basis portal without adding or uploading any document/ certificate/ paper.

Any person who intends to establish micro, small, or medium businesses will have to file for Udyam registration in the online Udyam Registration Portals. The business will subsequently be issued an Udyam Registration Number and an e-certificate namely, ‘Udyam Registration Certificate’. As per the notification of the ministry of the msme, all the existing Indian companies and enterprises shall file and register as Udyam on or before 31st Mar 2021. The old Udyog Aadhaar Memorandum can be upgraded to Udyam registration by verifying/seeding the PAN.

What is Udyam Registration?

The new notification issued by the Indian Government says that from July 01, 2020, an MSME (Micro Small and Medium Enterprises) will be known as Udyam, and the enrolment or the registration process will be known Udyam Registration.

With a new Udyam registration certificate, the government of India validates the existence of the business. And all the business associated with the Udyam can avail numerous benefits derived from the various relief schemes offered by the Ministry of MSME for the protection and growth of small businesses in India.

Udyam is a New Enterprise Registration Declared by the Ministry of MSME for Businesses

As per the Government of India MSME notification, there will be no fees or application costs for the filling of Udyam Registration. Only Aadhaar number, GST, PAN (Self-declaration) shall be required for Udyam Registration.

Udyam Registration benefits

There are numerous benefits of registering and getting Udyam certificate for your business, here we have mention 16 benefits of Udyam registration.

These benefits are listed out as per the schemes offered by the Ministry of MSME for the development of micro small and medium business enterprises in India. The same benefits can also be availed by the Udyam registration certificate holder and prove to be advantageous for them.

  1. Interest rate Subsidy on Bank loans
  2. Collateral free loans from banks
  3. Protection against delayed payments, against material/services supplied
  4. Special beneficial reservation policies in the manufacturing/ production sector
  5. Ease of obtaining registrations, licenses, and approvals.
  6. MSME Registered entity gets eligible for CLCSS (credit linked capital subsidy scheme)
  7. International trade fair special consideration
  8. Government security deposit (EMD) waiver (Useful while participating tenders)
  9. Electricity bills concession
  10. Stamp duty and registration fees waiver
  11. ISO certification fees reimbursement
  12. Direct tax laws rules exemption
  13. NSIC performance and credit rating fees subsidy
  14. Patent registration subsidy
  15. Barcode registration subsidy
  16. Industrial Promotion Subsidy (IPS) Subsidy Eligibility

Qualification for Udyam

Each kind of business element is qualified to acquire the Udyam registration certificate.

  1. Proprietorship
  2. Hindu Undivided Family (HUF)
  3. One Person Company (OPC)
  4. Partnership firm
  5. Limited liability partnership (LLP)
  6. Private limited or limited company
  7. Co-operative Societies or
  8. Any association of persons
Turnover & Investment in plant and machinery or equipment the following criteria is declared by the Ministry of MSME.

Microenterprise units : Enterprise with investment up to Rs 1 crore with a turnover of less than 5 crores will now be called small enterprise units.

Small enterprise units : Enterprise with investment up to Rs 10 crore with a turnover of less than 50 crores will now be called small enterprise units.

Medium enterprise units : Enterprises with investments up to Rs 50 crore with a turnover of less than Rs 250 crore will now be called Medium units.

Enterprise Turnover Investment
Micro Not more than 5 Cr. Not more than 1 Cr.
Small Not more than 50 Cr. Not more than 10 Cr.
Medium Not more than 250 Cr. Not more than 50 Cr.

Udyam Registration Process on MSMEregistrar

MSMEregistrar makes the process for registration very simple and user-friendly. The registration process is a simple 5-Step process as follows:

Step 1: Visit Udyam Registration portal

Step 2: Fill all the details on Udyam Registration Form, like aadhaar number, name, and address

Step 3: Make the online payment for your Udyam Registration Application

Step 4: One of our registration experts will process your Udyam Registration application

Step 5: In 1-2 hours you will receive your Udyam Registration e-certificate in your registered e-mail address.

As you can see the numerous benefits of getting a Udyam registration for your business. The online registration process is very simple its a paperless process with no uploading or submitting of documents required anymore.

Reasons for you to choose our services

We are private consultant experts and professionals who are very well versed with the MSME/ Udyog Aadhaar/ Udyam of processes for small or medium enterprises business registration and certification according to the government of India rules. We continuously work to empower Indian businesses and make their government official work simple and easy.

Our customer base is very satisfied and our clientele includes new businesses as well as well-established businesses and corporations. Satisfied customers also come back to avail our services regarding other registration and update processes. Through portals like msmeregistrar.org which is a single-window system that offers quick and hassle-free Udyam registration online from the safety of your home registration has never been easier.

Online Udyam registration through the above portal also saves time by discarding the excess time required to get registered online using government portals or offline in government offices. Other portals have a very complicated and long procedure which is not customer friendly and very confusing for new business owners and first-time registration customers.

With us registered as an Udyam now and avail various government Udyam benefits. If you are facing any problem while filling the online Udyam registration form, or have any doubts on Udyam Registration then you can reach us just by filling up the enquiry form and then one of our executive will call you through Udyam Helpline Number.

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