Udyam Registration With UAM
The Ministry of Micro, Small & Medium Enterprises (MSME) issued a notification on August 6, 2020. This notification contains details regarding both the pre-existing Entrepreneurs Memorandum (EM) / Udyog Aadhar Memorandum (UAM) and the newly introduced MSME registration process known as 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 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. It contains all the information of applicant details like self-certification 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 of 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 a 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 a 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)
- 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.
- 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
The process to Update Udyog Aadhaar Memorandum
The simple 6-step process for registration and updating Udyog Aadhaar Memorandum in Udyam :
Step 1: Visit the Udyam portal
Step 2: Enter the UDYAM number you have received after the application process, with the registered mobile number or e-mail address.
Step 3: Make the payment for your Application
Step 4: Once the Udyam registration application is approved, your business gets registered and the documents shall be sent to you
Step 5: In 1-2 hours, the valid certificate will be issued to the applicant.
Note: Click here to apply for Udyam Registration With UAM
udyam-registrations.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 out the form on our website and leave the rest in our hands.