The registration process for the small business sector is made easier by a 12-digit Unique Identification Number (UIN) called Udyog Aadhaar.
Udyog Aadhaar is made available by the Ministry of Micro, Small, and Medium Enterprises (MSMEs) of the Indian Government.
Following is a summary of Udyog Aadhaar's key characteristics and advantages:
1. Procedure for registration that is free and easy
2. Documents need not be submitted
3. There is a facility to submit multiple Udyog Aadhaar Self-Declarations
4. Helps to provide bank loans without collateral or a mortgage
5. There are lower interest rates available.
6. A 50% reward is provided in the case that a patent is registered.
7. Helps to ensure that direct taxes are excluded.
8. Makes it easier to obtain licenses, approvals, and other registrations
9. The simple application process for company current accounts
10. Subsidy for MSME registration holders on NSIC performance and credit ratings
11. Reduction in electricity costs, among other advantage
12. Offers defence against late payments
Step 1: Submit an application for Aadhaar enrolment if you meet the requirements of Section 3 of the Aadhaar Act.
Step 2: However, the concerned MSME-DI or DIC must produce the following documents before filing the UAM registration.
Step 3: A copy of the Aadhaar enrolment request or an ID slip for Aadhaar enrollment
Step 4: A voter identification card, a driver's license, a passport, a bank passbook with a photo, a PAN card, etc.
Step 1: Access Udyog Aadhaar's official website.
Step 2: You have the option to enter your Aadhaar number on the homepage. After entering your name, select "Validate and Generate OTP" from the box.
Step 3: An OTP will be sent to the phone number associated with your Aadhaar card.
Step 4: You will be led to a new form that you must complete and submit after providing the OTP.
Step 5: After that, you will get another OTP, which you must input in order to submit your application.
The registration process for Udyog Aadhaar does not require the submission of any papers. However, you'll need to have a few documents on available because you'll need to supply the information when you register. The following is a list of the documents:
1. Aadhaar ID
2. Information about the bank, including the IFSC code of the branch where your account is located.
3. Card PAN
4. Beginning date
5. Organization type
6. Address of the business Phone number
7. information about manufacturing/service
The Udyog Aadhaar Memorandum is the registration form on which the MSME attests to its existence and provides necessary data, such as the owner's Aadhar identification and bank account information, among other things. An acknowledgement form including the specific UAN is sent to the applicant's registered email after this form has been submitted (Udyog Aadhaar Number). There is no requirement for supporting documents because it is a self-declaration form.
No, UAM has supplanted EM-I and EM-II. This was disclosed in a notification that was released on September 18, 2015.
Before permitting the user to choose the enterprise's NIC code, the system will verify the user's Aadhaar number. It must be chosen from a 3-stage drop-down menu. This list will be displayed according to the primary activity of the firm, such as the manufacturing or service industries.
The Udyog Aadhaar registration process is currently only available in English. The same will eventually be made available in Hindi as well.
Your personal information is secure on the UAM portal, yes. Only the appropriate State Government authorities, in accordance with their jurisdiction, will be able to access the data, which will be password protected.
Yes, anyone in business who has an Aadhaar number can register for an Aadhaar Udyog online.
Online registration for Udyog Aadhaar is cost-free.
UAN Activation and Registration
GST Rules for Small Businesses
Indira Gandhi National Old Age Pension Scheme (IGNOAPS)
How to Ensure Dealing with a GST Compliant Supplier?
Medical Invoice Template: Components & Types