India is the 3rd country with the largest number of family-run businesses after the US and China. Most of the family businesses in India are run by middle-class joint families. These businesses come under small-scale businesses as well.
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The government initiated the registration for all the small-scale businesses, which also includes the Hindu family business, under Micro, Medium, and Small Enterprises to support them financially and promote sustainable growth among such businesses.
Read the article below to know more about Udyam registration for the Hindu Undivided Family business.
Documents required for Udyam Registration for Hindu Undivided Family Business
These are the documents needed to upload for Udyam registration-
- Aadhaar Card
- PAN Card
How to apply for Udyam Registration for Hindu Undivided Family Business
Follow these steps to register your Hindu Undivided Family Business under Udyam Registration –
Step 1: Go to the official site for Udyam Registration.
Step 2: Give the following details:
- Applicant Name: The applicant is required to enter the name as mentioned on the Aadhaar card.
- Mobile Number: The applicant is required to enter the mobile number.
- Email ID: The applicant is required to enter the email ID.
- Office Address: The applicant is required to enter the office address along with Pin Code, State, & District
- Annual Turnover: The applicant is required to enter the annual turnover of the company.
- Social Category: Select the social category (ST/ SC/ OBC/ General).
- Aadhaar Number: The applicant is required to enter the Aadhar number as provided by UIDAI.
- Previous UAM number: The applicant is required to enter the previous UAM (Udyog Aadhaar Memorandum number), if available.
- PAN Card number: The applicant is required to enter the PAN card number.
- Bank Account number: The applicant is required to give the Bank account number.
- IFSC Code: The applicant is required to enter the Bank’s IFSC Code.
- Business Name: The applicant is required to enter the Business name.
- Date of Commencement of Business: The applicant is required to enter the date on which the business was started.
- Type of Organisation: Select “Hindu Undivided Family Business” from the option.
- Main Business Activity of Enterprises: The applicant is required to select the main business activity of the business (Manufacturer/ Service Provider)
- Additional details about the Business: The applicant can give additional details about the business such as food manufacturing, and computer programming.
- Number of Employees: The applicant is required to give the number of employees in the firm (Male/ Female/ Other)
- Investment in Plant & Machinery: The applicant is required to give the total investment made in plant, machinery & equipment.
Step 3: Upload a copy of the Aadhar Card & PAN Card.
Step 4: Enter the Verification Code.
Step 5: Click on “Submit Application”.
The Udyam Registration number will be generated after the successful submission of the form and the Udyam certificate will be sent to the registered email address.
Most Common Small Business Questions Regarding UDYAM
The Union Ministry of Micro, Small, and Medium Entities (MSME) trained the new definition concerning MSME, nearby its new name Udyam Registration, and made another entry named Msme Registration online in a notice dated June 26, 2020. Free undertakings are reasonably going to have various solicitations regarding UDYAM Registration since it is a genuinely new site. The ten most unavoidable ones are shrouded in this article.
Is it basic to choose for UDYAM?
MSMEs might record UDYAM Registration, as shown by a warning passed on by the Ministry of Micro, Small, and Medium Enterprises on June 26, 2020. MSME enlistment is discretionary and at the fastidiousness of the MSME.
How long does the UDYAM Registration articulation endure?
The genuineness of the enrollment proclamation isn’t obviously alluded to in the Act or in the help given on the new choice entry. Thusly, it’s most plausible that the enrollment will be huge at any rate as long the affiliation remains and that there will be no persuading inspiration to recharge it. Affiliations ought to,, update all immense data on the new site, including PAN and GST, at the latest cutoff time.
Is there a difference between UDYAM Registration and Udyog Aadhar?
Coming up next are a piece of the fundamental separations between Udyog Aadhar and UDYAM Registration:
Just the contender’s Aadhar Card, PAN, and self-insistence dependent upon the old MSME rules are needed for Udyog Aadhar. UDYAM Registration, as indicated by the new MSME definition, requires the Aadhar Card and upheld verification.
Government entryways like TReDS, GeM, and others don’t organize with Udyog Aadhar. UDYAM Registration, obviously, is completely coordinated and recorded all through the enrollment association.
Whether or not you use the Aadhar Mobile Link Facility, you can apply for Udyog Aadhar. UDYAM Registration, on the other hand, necessitates the use of an Aadhar Card in conjunction with a PDA.
Is it true that there is a separation between UDYAM and MSME?
Unquestionably. UDYAM Registration is also known as MSME Registration. It is an association choice that doesn’t see near anything and medium affiliations and goes with an assertion confirmation and a surprising number.
How could I get support for UDYAM Registration?
What is the system for getting a UDYAM Registration Certificate? The three-experience technique for getting a UDYAM Registration Certificate is genuinely immediate.
How proportion of time do treats take to select for UDYAM?
How proportion of time does treats take to enlist for UDYAM? The issue of the UDYAM Registration Certificate routinely anticipates four should five days after the application is submitted. You’ll get an email cautioning with your disclosure’s UDYAM Registration Number. Notwithstanding, contingent on the conditions, the UDYAM Registration method takes longer than 15 days to wrap up.
What are the possible increases in enrolling with UDYAM?
Coming up next are a piece of the possible increases of selecting with UDYAM:
- As shown by state laws, you might be prepared for octroi and evaluation concessions.
- Get a 1% financing cost decrease on your overdraft.
- Exploit the particular exclusion program.
- Clear bank home advances and bank business advances are open.
- Get a markdown on bank advance financing costs.
- Get a markdown on standardized name enlistment.
- Get a markdown on your power bills.
- Get insurance from late divides and materials/associations are given.
- MSME-selected affiliations are now allowed to join CLCSS (Credit Linked Capital Subsidy Scheme)
- While applying for government contracts, take a rest.
- As an enlisted UDYAM, take advantage of appraisal, cost, and capital gifts.
- Ensure stamp accountability and enrollment cost avoidance.
Benefits of Udyam Registration for Hindu Undivided Family
These are the benefits of Udyam Registration for Hindu Undivided Families-
- Easy credit at lower interest rates
- Collateral-free loans
- Financial support for Technology upgradation
- Rebates on Tax
- Subsidy on Trademark & Patent Fees
- Access to Government e-Marketplace
- Free participation in Government tenders
- Special consideration on international exhibitions and trade fairs
- Barcode Registration
- Reduction in ISO Certification fees
- Awareness of Intellectual Property Rights
- Credit Rating Facilities
- ZED scheme
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Conclusion
The Udyam registration portal has been introduced to ease the process of registration for Micro, Small, and Medium Enterprises. The Hindu Undivided Family Businesses can also apply for Udyam registration and get eligible for availing of various schemes launched by the government, especially for the MSMEs. Are you looking for Udyam registration for your Family business? Apply for Udyam registration soon and get support from the government for your business.