The Ministry of Micro, Small & Medium Enterprises (MSME) released its notification dated 6th August 2020 and has provided information on the existing Entrepreneurs Memorandum (EM) /Udyog Aadhar Memorandum (UAM) and regarding the New MSME registration - Udyam Registration.
As per the notification, the existing MSMEs registered under the Entrepreneur Memorandum EM – Part-II or Udyog Aadhaar Memorandum UAM (MSME / Udyog Aadhaar) will be valid until a period of 31st March 2021.
The existing enterprises under EM- part II or UAM will have to register again on the Udyam Registration Portal. Udyog Aadhaar Memorandum should be updated before 31st March 2021, or it will be either canceled or blocked. So, the entrepreneurs need to update before the last date.
The new process of the MSME registration is known as Udyam Registration.
It has been effective from 01st July 2020, and many entrepreneurs have already registered under Udyam. It is the re-classified version of the Udyog Aadhaar Memorandum which earlier was known as Udyog Aadhaar registration.
Udyog Aadhaar Memorandum
Udyog Aadhaar Memorandum is a one-page registration process to register under MSME and contains all the information of applicant details like self-certify all business details like a bank account, promoter details, etc. It is a unique identification twelve-digit number mainly used for MSMEs.
Benefits Of UAM Update in Udyam
The government has provided many benefits to Udyam registration on the update of Udyog Aadhaar.In order to help MSMEs grow not only in India but also globally. Two of those advantages are reservation policy and a credit guarantee scheme.
Many government schemes for MSMEs can be accessed once you have enrolled. Excise and direct tax exemptions, quick low-interest loans, credit backed loans, government incentives, and more are among the advantages.
Registered companies are also entitled to participate in different international exhibitions with financial assistance. They are ideal places to network and display goods.
Registered businesses are eligible for credit-linked capacity subsidy schemes by applying via the primary lending agencies.
There have been compromises made on electricity bills.
Documents Required to Update Udyog Aadhaar Memorandum
There are few documents required for Udyam registration with UAM which are completely based on a self-declaration basis:-
The enterprise owner's name and Aadhar number (as shown in the Aadhar Card)v
Name of the business or organization you want to start
Details of your enterprise Previous registration
Type of enterprise/organization that you own
Current address and account details of the owner.v
NIC Code or National Industrial Classification Code
The number of total workers employed at your organization segregates into gender.
Current activities of your firm
Entrepreneur’s Email ID and mobile number
PAN number and the overall expenditure made by the entrepreneur in the organization
Process to Update Udyog Aadhaar Memorandum
The simple 6-step process for registration and to to Update Udyog Aadhaar Memorandum in Udyam :
Msmeregistrar.org has a team of professional consultants who will assist you in the process of registration of existing enterprises of UAM in Udyam. We are continuously working in order to make the registration process easy for newbie startups and entrepreneurs. You just have to fill the form on our website and leave the rest in our hands.
If you still have any any issues related to Udyam Registration ,you can contact to us through our enquiry form and follow us on:
Last Updated : 24/03/2020 | Total Visitor : 141464 | Website Maintained by MSME REGISTRAR
For More Details
This website is a property of a consultancy firm, providing consultancy services.
We expressively declare that we are private consultants. We have no relation or we do not represent any government official or any government department.