What is the Udyog Aadhaar, MSME and SSI?
Udyog Aadhaar is a 12 digit unique identification number for the businessman.
MSME refers to the Ministry of micro, small and medium enterprises, which provide rules, laws, and benefits for the business holders.
SSI stands for the small scale industries in which they work, and generation is done on a small scale.
What are Udyog Aadhaar and its benefits?
Udyog Adhaar card is a business card specially designed for the business mam for their business. MSME is also like Udyog Aadhaar, and any small or big firm has to register themselves for their MSME; it can be done both online and offline.
- Controls the unemployment
- Straightforward registration process
- Provides a good platform to the companies
Benefits of MSME and SSI?
MSME and SSI provide the benefits of the government schemes which are specially made by the Government for the Small scale, Micro and Medium scale businessman.
- 50% subsidy on document registration.
- Protection against halted Payments.
- Discounts on electricity bills.
- Makes business authorized for Industrial Promotion Subsidy
- Claims for a rebate of ISRO certificate
What is the relation between MSME, Udyog Aadhaar, and SSI?
Udyog Aadhaar, MSME and SSI are correlated to each other.
MSMI and SSI are the old process for business registration, but it goes through the lot of paperwork process and takes times of the businessman.
To make this process, simple Government launched Udyog Aadhaar application which works online.
Registration of MSME and SSI is also converted to Udyog Aadhaar as everyone can quickly do it.
Frequently Ask Questions
What is the Udyog Aadhaar fee?
There is no registration fee for Udyog Aadhaar.
Is MSME comes with lifetime validity?
Yes. There is no need to register with MSME again and again.
Which kind of business is eligible for an MSME loan?
Every kind of business. As like proprietorships, Hindu undivided family, Firms on partnership, PLC, LTD.
When was the Udyog Aadhaar scheme launched?
In September 2015.
What is the DIC registration certificate for MSME?
DIC is for getting the government benefits from MSME
What should be the turnover limit for MSME?
5 crores for micro-enterprises, and 5 to 75 crore for small enterprises.
Which kind of industry comes under MSME?
Wood Firms, Poultry farms, Computer, and textiles.
Is it legally mandatory for registration MSME?
No, it is not mandatory.
From which bank I should apply for an MSME loan?
Banks like BOB, IDBI, NBFC, BAJAJ Finance, Tata capital and any NBFC.
In which kind of work the SSI certificate give benefits?
Make the business qualified for government benefits and subsidies.
