Other Registrations

1) Shop and Establishment Registration:

Every Business Establishments are required to obtain Shop and Establishment Registration under respective State Shop and Establishment Act and Rules within 30 days of registration.

This is a state specific mandatory registration for all the business and establishments. All types of firm has to obtain the Shop and Establishment Registration in every state wherever they have offices and establishments.

2) Professional Tax Registration – Employer & Employee

Every organization is required to obtain Professional Tax – Employer Registration (Enrolment Certificate) within 30 days of incorporation. This again is a state specific labour registration mandatory for all registered business whether you have any employees or not. This registration is subject to renewal every year after payment of prescribed fee. Delay in obtaining the registration will attract penalty to business on yearly basis.

Also, every organization who employs people with more than the specified limit of salary (this limit varies from State to State) has to obtain Professional Tax – Employee Registration (Registration Certificate), when they start employing people. For this purpose, the Partners / Designated Partners shall be treated as employees if they are drawing salary beyond the specified limits. Also, the employer must deduct the Professional Tax from the salary of employee and pay to the State Govt. on monthly basis.

3) Goods and Services Tax (GST) Registration

Every business with annual turnover exceeds Rs. 40 lakhs (Service providers 20 lakhs) is required to GST Registration under Goods and Services Tax (GST) Act and Rules.

It is not mandatory to obtain GST immediately after incorporation of the organization. The organization can obtain this registration as and when required.

4) Importer Exporter Code Registration

Importer Exporter Code (IEC) is a unique 10-digit code issued by the Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India.

Importer Exporter Code (IEC) is mandatory for export/import from/to India. No person or entity can make any import or export without IEC number. DGFT has recently introduced the facility of issuing Importer Exporter Code in electronic form (e-IEC).

If there is any change in the particulars of a company, changes in directors, change of address, an application has to be made to the Director General of Foreign Trade to effect such changes in the IEC Records/Certificate. Processing of would be done online and a digitally signed e-IEC would normally be issued/ e-mailed to the applicant within 2 working days on submission of all required particulars and documents.

5) MSME Registration

The term MSMEs stands for Micro, Small and Medium Enterprises. MSME Registration is also known Udyog Aadhar Registration.MSME refers to those business entities that are engaged either in manufacturing or services with investments in plant and machinery/equipment being limited to a particular limit.Any business organisation engaged in the manufacture or production of goods or engaged in any service can be registered as a MSME. It can be a Proprietorship, HUF, Association of Persons, Cooperative Society, Partnership Firm, Company, LLP or any other legal entity.

Micro, small and medium enterprises (MSMEs) are the largest contributors to our economic growth. They constitute over 90% of the total enterprises in most economies and are credited with generating the highest employment rates. In terms of value, the MSME sector accounts for about 45% of the manufacturing output and around 40% of the country’s total exports.

To facilitate the promotion, development and enhancement of the competitiveness of MSMEs, the Goverment of India has introduced various stimulus packages like cluster development, market development assistance, credit guarantee, financial assistance, International Cooperation Schemes, etc.

6) Provident Fund Registration

Provident Fund is a method of employee welfare measure to provide employees with lump sum payments at the time of exit from their place of employment. Under Provident Fund employer and employee contribute a defined amount every month and deposit to the employee account with Employers Provident Fund Organization (EPFO). Provident Fund Registration is mandatory for every establishments if the number of employees exceeds 20. The Registration is required to be obtained from Employers Provident Fund Organization (EPFO). In case the number of employees is less than 20, the establishment can obtain Provident Fund Registration voluntarily.

7) ESI Registration

Employee State Insurance or ESI is a scheme commenced by the Government of India to offer medical, monetary, and other advantages to workers. ESI is managed by an autonomous authority – Employee State Insurance Corporation – which lies under the jurisdiction of the Ministry of Labour and Employment. By law, any company that has more than 10 employees mandatorily needs to have ESI. In some states, the number of employees is 20. For employees earning more than ₹21,000 per month, including basic salaries and dearness allowance, the insurance is deducted from their pay. Also, taxpayers with a turnover of less than ₹1.5 crore can opt for the composition scheme to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.