Q1.What is the difference between MSME and Udyam registration?
MSME registration was the old procedure of registration for MSMEs and involved additional forms namely - EM-I & EM-II registrations. Whereas, the Udyam registration is the latest process of registration for the MSMEs which require only the Aadhar & PAN for the registration.
Once you register under Udyam, you cannot change the state and district details of your address. However, you can change the local address in case of relocation within the same city/ town.
If you want to update your address details in the MSME certificate, you must update the MSME certificate from the official portal.
Q4. What is the difference between Udyog aadhar and Udyam?
Udyog Aadhar was another procedure of registration for the Micro, Small, and Medium Enterprises. It was introduced to replace EM-I & EM-II. The unique identification number for Udyog Aadhar was known as Udyog Aadhar Memorandum.
The Udyam registration is the latest procedure of registration for the Micro, Small, and Medium Enterprises. The unique identification provided for Udyam is known as the Udyam registration number.
No, a person cannot have more than 2 Udyam registration. A person can file for only 1 Udyam with his Aadhar. However, the other activities/ branches related to the enterprise must be mentioned under single Udyam registration.
Yes, the following are the turnover limit for Micro, Small, and Medium Enterprises :
(i) Micro enterprises: These enterprises must have turnover below Rs. 5 crores.
(ii) Small enterprises: These enterprises must have turnover below 50 crores.
(iii) Medium enterprises: These enterprises must have turnover below Rs. 250 crore.
The EM is Entrepreneurs Memorandum form which had two forms namely - EM-I & EM-II which were filled up for availing the benefits from the government. The EM-I & EM-II forms were later replaced by Udyog Aadhar.
Q.13. What is the validity of the Udyam certificate?
Udyam certificate is valid for a lifetime. Once you have applied for Udyam registration with an Aadhar you can use it for a lifetime. However, if you want to rectify the mistakes in the Udyam registration, you can update your details from the official website of Udyam registration.
Yes, you can easily apply for a loan with your Udyog Aadhar certificate. Since the MSMEs are given the benefit of Primary Sector Lending by the government you can easily access the loans from various financial institutions without the need for collateral security and at low-interest rates.