Migrate from Udyog Aadhar to Udyam

In 2020, the Indian government started Udyam Registration, a new Micro, Small and Medium Enterprises (MSMEs) registration system. This system superseded the earlier Udyog Aadhar. Its goal was to streamline the MSME registration system as it stood. This changed the MSME registration procedure from Udyog Aadhar to the online Udyam registration mechanism. Should your business own a Udyog Aadhar, you must re-register under Udyam. The method is simple enough to migrate Udyog Aadhar to Udyam online. Re-registering to Udyam would allow you to use all government advantages for MSMEs again. Here is our step-by-step guide on how to migrate from Udyog Aadhar to udyam.

Why should you migrate Udyog Aadhar to Udyam registration?

You should give migrate from udyog aadhar to udyam online some serious thought because of the following reasons: 

• Udyam's registration procedure is first straightforward. One may finish this online. This speeds up and simplifies the procedure by removing the need for actual documents or trips to government agencies.
• Udyam offers a more accurate and whole picture of MSMEs, enabling an improved appreciation of their vital contribution to the Indian economy.
• MSMEs registered with Udyam might experience more market awareness and be qualified for government advantages like loans and subsidies. As noted, the Udyam upgrade now uses Udyam for the MSME registration procedure. An MSME can only make use of government advantages with Udyam.
• Furthermore, the more open and safe the Udyam system is, the lower the possibility of fraud or abuse of registration certificates.
• Improved data management also enables more precise monitoring and analysis of MSME performance and influence by the Udyam system.

All things considered, moving to Udyam helps MSMEs in many ways: simpler registration, enhanced recognition and rewards, more security, and better data management. Making the change is thus a crucial first step towards guaranteeing the expansion and development of MSMEs in India.

Advantages of Udyam Registration

Migrate from Udyog Aadhar to udyam offers businesses several benefits:

1. Simplifies the procedures for businesses with MSME Certificates seeking licenses, approvals, and also registration in any field. With the MSME Registration Certificate, this simplicity helps contacts with relevant agencies.
2. Businesses registered under Udyam Registration Certificate may benefit from direct tax exemption in the first year, according to the government program and depending on the kind of company operations included.
3. Supported by a Udyam Registration Certificate, businesses possessing one may easily apply to the power department for reductions in their electricity rates.
4. Companies with MSME or Udyam Registration might gain from excise exemption in the first year, following the policies of the Excise Exemption Scheme created by the Government of India and dependent on business activity.
5. Businesses registered under MSME have a lower interest rate than others, making financial help more readily available.
6. Businesses with MSME or Udyam Registration Certificates may apply for a 50% discount for patent registration within the guidelines set by the relevant government.

Crucial Documents Needed to Migrate from Udyog to Udyam Registration

To successfully migrate from Udyog to Udyam Registration portal, the following essential documents are required: r

1. Owner’s Name and Aadhar Number
2. Organization or Business Name
3. Type of Organisation or Enterprise
4. Enterprise Details (Previous Registration)
5. National Industrial Classification (NIC) Code
6. Current Activities of the Firm
7. PAN Number and Entrepreneur’s Expenditure
8. Total No. of Employees or Workers
9. Entrepreneur’s Email ID and Mobile Number
10. Current Address and Owner’s Account Details

Migration Procedure from Udyog Aadhaar to the New Udyam Registration

Migration of Udyog Aadhar to Udyam One may register online and it is straightforward and basic. All you have to do is apply by following the easy guidelines and completing the necessary information. Before beginning the application procedure, it is usually good to carefully review the guidelines. This will guarantee the absence of migration procedure delays or issues.

Step 1: Visit https://udyamregistrations.org.

Step 2: Depending on whether they have previously registered using Udyog, registered earlier via any Assisted filling, or are new to Udyam and registering themselves for the first time, various alternatives are shown on this home page for different individuals. Choose "For those already having registration as UAM," if you registered before using Udyog Aadhar.

Step 3: The third step will send you to another page where you must enter your Udyog Aadhar Number.

Step 4: The next step is to verify identification after your Aadhar number. You will be given two verification choices: either you could use your previously given telephone number to confirm your account, or you could use your previously given email address via OTP. Out of these two, you may choose whichever would be most handy for you. 

Step 5: Once this procedure is finished, the system will confirm every detail you supplied. If no problems arise and your Udyog Aadhar is verified satisfactorily, you will get a notification asking you to review the system to finish the process a few days later. You will then get your Udyam Certificate with a unique 19-digit permanent registration number with lifelong validity. The certificate as an identity document is also valid for your company at banks and other financial organizations. 

Conclusion

Although the entrepreneur alone decides whether or not to migrate to Udyam, the legislation does not require this. Nonetheless, registration helps businesses take advantage of government policies. 

Migrating from udyog aadhar to udyam helps to promote employment opportunities in rural and backward areas, so it enjoys many benefits from the government in many forms, including schemes, support, and concessions offered. It simultaneously builds image and credibility in the corporate market. Their minimal investment needs, operational flexibility, and capacity to create appropriate native technology have helped India to reach new heights and reflect its incredible rate of economic development.