Here in this article you will understand the difference between Udyog Aadhaar and Udyam in detail.
A company can be classified on the basis of various criteria. Such as a company where the investment in plant and machinery or equipment does not go above one crore rupees and turnover does not go above five crore rupees are called micro enterprises.
A firm where the investment in plant and machinery or equipment does not go above ten crore rupees and the turnover does not exceed fifty crore rupees are called small enterprises.
Whereas, a company where the investment in plant and machinery or equipment does not go above fifty crore rupees and the turnover does not go above two hundred and fifty crore rupees are classified as medium enterprises.
Difference between Udyog Aadhaar and Udyam
The main purpose to introduce the Udyam registration was to simplify the registration process and reduce the time consumption of the registration. The small scale businesses and companies can easily register themselves under Micro Small Medium Enterprise or MSME.
Udyam (MSME) Registration is completely free of cost and paperless and it does not include any online or offline agency. There is only a single Government portal for Udyam registration.
Udyog Aadhaar is provided by the Ministry of Micro, Small and Medium Enterprises, Government of India for small and medium enterprises, which began a few years back. It is a twelve digit unique identification number. It is also known as Aadhaar for Business. Till now, more than 48 lakh MSMEs in India are registered under Udyog Aadhaar.
Udyog Aadhaar Memorandum (UAM) is a process under which an industry can be registered by you only by filling the one page form, which has been run by the MSME Department of India. Udyog Aadhaar online registration is free.
The Udyog Aadhar simplifies the registration process, controls unemployment and also increases competition for companies. There are a number of applicants who are still unaware about the udyam registration and are confused while they apply for the MSME or Udyog or udyam registration.
There are various differences between Udyog Aadhar and Udyam registration. It includes that Udyam Registration and Udyog Aadhar both are the same from July 2020 because from July Udyog Aadhar Registration is converted into the udyam registration process.
Udyog Aadhar only requires the aadhar card and pan of the applicant for the process of registration and it provides instant self certification as per old MSME criteria but Udyam Registration requires the only Aadhaar card of the applicant and Provide verified certification as per the new MSME criteria.
Udyog Aadhar is not integrated with other government portal like Gem portal but Udyam Registration is fully integrated and registered during the Udyam Registration.
Udyog Aadhar has a short form as compared to Udyam Registration but on the Udyam Portal there is a long form and it requires the details from the Income tax & gst for the registration process.
Udyog Aadhar can be applied without Aadhar Mobile Link Facility but Udyam Registration requires only the Aadhar card which is linked with a mobile number.
Udyog Aadhar can be registered on multiple times with different firm names but Udyam Registration can be Registered with only one Aadhar Card Person Applicant.
Previously getting a Udyog aadhaar registration certificate for business registration under the Ministry of MSME, the process was confusing, time consuming as there were many categories and multiple pages to go through. It required lots of paperwork, and to upload documents on the portal. Whereas for Udyam registration it is the single window, paperless process and no additional documents or certificates are required in order to register under MSME.
Applicants due to confusion they messed the registration process, ultimately rejection of the certificate or some simple mistakes.
So we professionals know what is best for business, how to register your business under the MSME government of India.
Any person who wants to register as a micro, small or medium enterprise has to file Udyam Registration online in the Udyam Registration portal, based on self-declaration with no requirement to upload documents, papers, certificates or proof.
After the registration, a company is assigned with a permanent identity number on the Udyam registration portal which is known as the Udyam registration number. Completing the registration process the enterprise will get an e-certificate which is called the Udyam registration certificate.
Udyam registration provides many benefits to the enterprises like easy bank loan without any collateral mortgage, special preference in procuring Government tenders, concession in electricity bills, 1% of exemption on interest rates on bank overdraft, tax rebates, fast resolution of disputes, protection against the delay in payment from buyers and special 50% discount on Government fees for trademark and patent.
Now as you have understand the difference between the Udyog Aadhaar And Udyam. If you are looking for professional help in Udyog Aadhar or Udyam registration fill up any one of the application form.
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Hoping you have learn about the difference of udyog aadhar and udyam registration certificate.
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