MSME/Udyam Registration Services with LPC Consultancy

MSME / Udyam Registration with LPC Consultancy

Micro, Small, and Medium Enterprises (MSME) play a crucial role in the growth of the Indian economy, contributing significantly to GDP, employment, and exports. Recognizing their importance, the Government of India offers various benefits and incentives to MSMEs through the MSME/Udyam registration process. This registration provides businesses with access to schemes and subsidies that help in their development and growth. LPC Consultancy assists businesses in obtaining MSME/Udyam registration, ensuring a smooth, hassle-free process and enabling businesses to unlock numerous benefits.

6000+ Startups and MSMEs Served

OVERVIEW

What is MSME/Udyam Registration?

MSME/Udyam Registration is an online process introduced by the Government of India to register businesses under the Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006. Udyam registration, formerly known as MSME registration, provides businesses with official recognition as an MSME. Once registered, businesses can access a range of benefits, including lower interest rates on loans, government subsidies, tax benefits, and priority treatment in government procurement.

The MSME classification is based on the investment and turnover of a business, as per the revised criteria introduced in 2020. MSME/Udyam registration is completely voluntary, but highly recommended for small and medium enterprises to avail of the various government incentives.

HERE'S HOW IT WORKS

1. Fill Form

Simply fill the above form
to get started.

2. Call to discuss

Our MSME Expert will
connect with you & advice on
documents.

3. Get Incorporation

Get your MSME
Certificate

BENEFITS

BENEFITS OF MSME REGISTRATION

Access to Government Schemes

Registered MSMEs gain access to various government schemes such as the Credit Guarantee Scheme, subsidies on capital investments, and technology upgradation.

Subsidies and Rebates

MSMEs are entitled to a range of subsidies and rebates, including a subsidy on patent registration, industrial promotion subsidies, and ISO certification fees reimbursement.

Protection Against Delayed Payments

The MSME Act protects businesses from delayed payments. Buyers must make payments within 45 days of receiving goods or services from an MSME, or they are liable to pay compound interest.

Collateral-Free Loans

MSMEs can access collateral-free loans under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme.

Low-Interest Business Loans

Banks offer lower interest rates on loans to MSME-registered businesses, making it easier for small businesses to access credit and manage working capital.

Priority in Government Procurement

MSME-registered businesses receive priority in government procurement tenders and contracts. They are also exempt from paying Earnest Money Deposit (EMD) for government tenders.

Tax Exemptions

Registered MSMEs can benefit from direct tax exemptions and reduced rates on electricity and other services.

Eligibility Criteria for MSME/Udyam Registration

Under the revised MSME classification, businesses are classified as micro, small, or medium enterprises based on their investment in plant and machinery and annual turnover:

Micro Enterprises:
- Investment: Up to Rs. 1 crore
- Turnover: Up to Rs. 5 crore
Small Enterprises:
- Investment: Up to Rs. 10 crore
- Turnover: Up to Rs. 50 crore
Medium Enterprises:
- Investment: Up to Rs. 50 crore
- Turnover: Up to Rs. 250 crore

Businesses must fall within these investment and turnover limits to qualify for MSME/Udyam registration. LPC Consultancy helps businesses evaluate their eligibility and guides them through the registration process.

MSME/Udyam Registration Process with LPC Consultancy

LPC Consultancy simplifies the MSME/Udyam registration process, ensuring that your business is registered quickly and accurately. Here’s a step-by-step guide to how we assist you:

Eligibility Check:
- We start by checking whether your business qualifies as a micro, small, or medium enterprise based on its investment and turnover.
Document Preparation:
- We collect and verify the necessary documents required for registration, ensuring that all information is accurate and complete.
Udyam Registration Application:
- Our team helps you file the Udyam registration application online through the official Udyam portal. The application includes your Aadhaar number, business details, and PAN card information.
Submission and Verification:
- After submitting the application, the details are verified by the relevant authorities. If everything is in order, the registration is processed, and your business receives the Udyam registration certificate.
Issuance of Udyam Certificate:
- Once approved, you will receive a Udyam Registration Certificate with a unique Udyam number. This certificate is valid for the lifetime of your business and does not need to be renewed.
Post-Registration Support:
- LPC Consultancy provides ongoing support after registration, helping you take advantage of the benefits available to MSME-registered businesses and stay compliant with any regulatory changes.

Documents Checklist

Documents Required for MSME/Udyam Registration

Aadhaar Card

The Aadhaar card of the business owner or authorized signatory is mandatory for registration.

Investment and Turnover Details

Financial information such as investment in plant and machinery and annual turnover must be provided for classification.

Business Registration Certificate

Proof of business registration, such as a certificate of incorporation, partnership deed, or any other registration document.

PAN Card

The PAN card of the business or individual (in case of sole proprietorship).

Bank Details

Bank account number, IFSC code, and other banking details of the business.

Why MSME/Udyam Registration is Essential for Your Business

Growth Opportunities:
- MSME registration opens doors to government schemes, funding options, and incentives that can help your business grow.
Legal Protection:
- The MSME Act offers protection against delayed payments from buyers, which is especially important for small businesses that depend on timely cash flow.
Reduced Costs:
- MSMEs enjoy reduced rates on loans, subsidies, and tax exemptions, allowing businesses to operate more cost-effectively.
Increased Credibility:
- MSME registration increases your business’s credibility in the market, especially when dealing with large corporations or government bodies.
Access to Collateral-Free Loans:
- MSMEs can easily secure loans without providing collateral, which is beneficial for businesses with limited assets.

Consequences of Not Registering as an MSME

Loss of Government Benefits:
- Businesses that do not register as MSMEs miss out on numerous government benefits, including subsidies, tax exemptions, and lower loan interest rates.
Limited Funding Options:
- Without MSME registration, businesses may face higher interest rates on loans and have limited access to funding schemes.
No Legal Protection for Payments:
- Unregistered businesses cannot take advantage of the legal protection against delayed payments under the MSME Act, leaving them vulnerable to cash flow issues.
Exclusion from Government Tenders:
- Many government contracts and tenders give preference to MSME-registered businesses, and unregistered companies may be excluded from bidding.

Why Choose LPC Consultancy for MSME/Udyam Registration?

Expert Assistance:
- Our team of experts handles the entire MSME registration process, ensuring accuracy and compliance with the latest regulations.
Quick and Simple Process:
- We streamline the registration process, ensuring that your business is registered quickly and without complications.
End-to-End Support:
- From document preparation to post-registration support, LPC Consultancy provides end-to-end assistance for MSME/Udyam registration.
Customized Solutions:
- We offer tailored solutions to meet the specific needs of your business, whether you are a micro, small, or medium enterprise.
Transparent Pricing:
- Our pricing is clear and competitive, with no hidden charges, ensuring you get the best value for your investment.

OUR CLIENTS SAY

There was a little bit of anxiety and doubt when I contacted them as I was from one side of the country and they were from other side and I was new to online filing and legal process. But the service I got from them was marvelous. These guys are so professional, that I never felt to be new to them. The execution of legal and processing was first class. They finished the assignment before committed time and pricing is absolutely affordable and value for money."

Mr. Bikash Garabadau,
Founder, Cosmo Trade, Bhubaneswar, Odisha

FAQ ON MSME REGISTRATION

What is the process for appointing a director in a company?

The process involves obtaining a DSC, applying for a DIN, passing a board resolution, and filing Form DIR-12 with the ROC.
What documents are required for appointing a director?

Key documents include the DSC, DIN, identity proof, address proof, consent to act as a director (Form DIR-2), and a declaration of non-disqualification.
What is Form DIR-12?

Form DIR-12 is the form filed with the ROC to notify the appointment of a new director, containing details about the director and their role.
What is a DIN, and why is it required?

A DIN (Director Identification Number) is a unique identification number issued by the MCA to individuals who wish to serve as a director in any company.
Can an individual be a director in more than one company?

Yes, an individual can serve as a director in multiple companies, but there are limits on the number of directorships as per the Companies Act.
What happens if Form DIR-12 is not filed on time?

Failure to file Form DIR-12 within 30 days of the director’s appointment can result in penalties and the appointment being considered invalid.
Who can appoint a director?

Directors can be appointed by the company’s board of directors, shareholders, or a nomination committee, depending on the company’s articles of association.
What is the role of a non-executive director?

A non-executive director contributes to the company’s governance and strategic decision-making but does not participate in day-to-day operations.
How can LPC Consultancy help in appointing a director?

LPC Consultancy handles the entire process, from document collection to filing with the ROC, ensuring a smooth and compliant appointment.
Can a director be appointed without a board meeting?

No, a board meeting must be held, and a resolution must be passed to formally appoint the director.
Can a foreign national be appointed as a director in an Indian company?

Yes, foreign nationals can be appointed as directors in Indian companies, provided they meet the eligibility criteria and have the necessary documentation.
What is the difference between an executive and a non-executive director?

An executive director is involved in the company’s day-to-day management, while a non-executive director focuses on governance and strategy.
Is a Digital Signature Certificate (DSC) mandatory for directors?

Yes, a DSC is required for signing digital forms and documents submitted to the ROC.
What is Form DIR-2?

Form DIR-2 is the written consent from the director, stating their willingness to act as a director in the company.
Can a company appoint more than one director at a time?

Yes, a company can appoint multiple directors in a single board meeting, provided all necessary filings are completed.
What is a nominee director?

A nominee director is appointed to represent the interests of a shareholder, creditor, or financial institution on the company’s board.
Can a director be removed after being appointed?

Yes, a director can be removed through a shareholder resolution or by the board, depending on the company’s articles of association.
What is the tenure of an additional director?

An additional director holds office until the next AGM, after which the shareholders must confirm their appointment.
Is there a minimum age requirement for becoming a director?

Yes, an individual must be at least 18 years old to be eligible for appointment as a director in an Indian company.
What is the maximum number of directorships a person can hold?

An individual can hold a maximum of 20 directorships, with not more than 10 in public companies.
What is the process for resigning as a director?

A director can submit their resignation, and the company must file Form DIR-12 to inform the ROC of the resignation.
Can an LLP appoint a director?

No, LLPs have designated partners instead of directors, but partners can have similar roles in decision-making.
Is it necessary to update statutory registers after appointing a director?

Yes, the statutory registers of directors and key management personnel must be updated after appointing a director.
What is the role of an alternate director?

An alternate director is appointed to temporarily act on behalf of a director who is unable to attend board meetings for an extended period.
What sets a Private Limited Company apart from other business structures in India?

A Private Limited Company offers a balance between flexibility and limited liability, making it ideal for small to medium-sized businesses that wish to grow while minimizing personal financial risk.
Why should I consider registering my business as a Private Limited Company?

Registering as a Private Limited Company provides your business with legal recognition, enhances credibility, and opens up opportunities for investment and growth, while protecting your personal assets.
Can I start a Private Limited Company if I already have another business?

Yes, you can start a Private Limited Company even if you already own another business. However, the new company must operate as a separate legal entity with its own distinct identity.
What is the process for choosing the right business structure before registration?

Choosing the right business structure involves evaluating your business goals, investment plans, risk appetite, and long-term vision. Our experts at LPC Consultancy can help you make an informed decision.
What happens if my chosen company name is already taken?

If your preferred company name is already in use or does not meet the naming guidelines, you will need to submit alternative names. Our team will assist in checking availability and suggesting appropriate names.
How does a Private Limited Company protect my personal assets?

In a Private Limited Company, shareholders' liability is limited to the amount they have invested in shares. This means your personal assets are protected in case the company faces financial difficulties.
Can I run my Private Limited Company from home?

Yes, you can run your Private Limited Company from your home as long as the address is registered with the Ministry of Corporate Affairs as the official registered office of the company.
Is it necessary to have a physical office space to register a Private Limited Company?

While you need a registered office address, it does not have to be a commercial space. It can be a residential address, as long as it is in India and all legal notices can be served there.
How many shareholders are required to form a Private Limited Company?

A Private Limited Company requires a minimum of two shareholders and can have a maximum of 200 shareholders.
What is the role of a Director in a Private Limited Company?

Directors are responsible for managing the day-to-day operations of the company, making strategic decisions, and ensuring compliance with legal and regulatory requirements.
Can I appoint a foreign national as a director in my Private Limited Company?

Yes, foreign nationals can be appointed as directors in a Private Limited Company, provided they obtain a valid Director Identification Number and comply with other legal requirements.
What are the responsibilities of a shareholder in a Private Limited Company?

Shareholders own a portion of the company through their shares and have the right to vote on major decisions, such as the election of directors and changes to the company's structure.
Can I transfer shares in a Private Limited Company?

Yes, shares in a Private Limited Company can be transferred, but the process is more restricted compared to public companies. The transfer usually requires approval from the board of directors.
How does a Private Limited Company handle profits and losses?

Profits earned by the company can be distributed to shareholders as dividends, reinvested in the business, or held in reserves. Losses are borne by the company, and shareholders are not personally liable.
What is the significance of the Memorandum of Association (MOA) and Articles of Association (AOA)?

The MOA outlines the company’s objectives and scope of activities, while the AOA defines the internal rules for managing the company. Together, they form the company's constitution.
How does a Private Limited Company ensure compliance with regulatory authorities?

A Private Limited Company must comply with various regulations, including filing annual returns, maintaining statutory records, and adhering to tax obligations. LPC Consultancy offers ongoing compliance services to help manage these responsibilities.
What are the options for raising capital in a Private Limited Company?

A Private Limited Company can raise capital by issuing shares, obtaining loans, or seeking investments from venture capitalists, angel investors, or private equity firms.
How does a Private Limited Company maintain its perpetual succession?

Perpetual succession means that the company continues to exist even if shareholders or directors change, ensuring continuity of business operations.
What role does the Registrar of Companies (ROC) play in company registration?

The Registrar of Companies is the government authority responsible for registering companies, maintaining records, and ensuring that companies comply with legal requirements.
How do I ensure my Private Limited Company name is unique and compliant with regulations?

Our team at LPC Consultancy will help you conduct a thorough search to ensure your chosen name is unique and compliant with the naming guidelines set by the Ministry of Corporate Affairs.
What are the common challenges faced during the registration of a Private Limited Company?

Common challenges include name availability issues, document verification delays, and compliance with legal formalities. Our experts at LPC Consultancy help you navigate these challenges smoothly.
Can I convert my Private Limited Company into another business structure later?

Yes, a Private Limited Company can be converted into another business structure, such as a public limited company or LLP, by following the legal process. LPC Consultancy can assist with the conversion process.
What are the tax implications for shareholders in a Private Limited Company?

Shareholders in a Private Limited Company may be subject to tax on dividends received. Additionally, the company itself is subject to corporate taxes on its profits.
How does a Private Limited Company ensure confidentiality of its business operations?

While a Private Limited Company must comply with public disclosure requirements, it can maintain confidentiality in certain areas, such as internal management practices and shareholder agreements.
Why should I choose LPC Consultancy to help register my Private Limited Company?

LPC Consultancy offers personalized guidance, transparent pricing, and a commitment to timely and accurate service, ensuring your company registration process is efficient and stress-free.