Licences & Registration

ESIC stands for Employees State Insurance Corporation which is established by ESI Act. It is an independent Corporation under the Ministry of Labour and Employment, Government of India.

Primarily, if any entity or a company employs 10 or more small or low earning employees then the ESI registration is compulsory. Moreover, according to the act, if any employee is having a salary of less than 15,000 per month needs to give 1.75% of her or his salary towards the ESI and in return, the company will contribute 4.75%towards her or his ESI which indeed proves beneficial for the employee.

Provident Fund i.e. PF is very essential for an individual to secure their old age time as it is a mode to offer a financial helping hand to the employees of a respective company. Moreover, investing in the provident fund is also a tax-saving alternative for the people who work in several private, public, or government department sectors.

Registration of the Provident fund can be achieved voluntarily by starting an organization having less than 20 employees. However, the employee can withdraw the provident fund savings at the time of her or his retirement or at some specific time if they wish to have it to fulfill their needs. Monthly File returns are essential for all the employees who have PF registration.

Hosted by DGS&D and launched on 9th August 2016 by the Commerce and Industry Minister, GEM is a Centralised Government e-Marketplace which is an e-commerce portal run by the government to promote and permit the hassle-free online acquisition of the Consumer Goods and Services that are required by several PSUs, Organisations, Government departments, etc.

Indeed, GEM is a very user-friendly, vital, effective, self-sufficing portal for the Government officer’s procurement.

Fundamentally, Udyog Aadhar which started in September 2015, can be defined as a recognition certificate and a 12 digit Unique Identification Number rendered by the Ministry of Small, Medium, and Micro Enterprises, Government of India for medium and small sizes of businesses.

However, the Udyog Aadhar Registration is an online method by which an MSME receives its 12- digit Udyog Aadhar Number. The proprietor, director, or the owner of the business will have to provide her or his 12-digit Aadhar Card Number.

Those who wish to start a quick import or export business in the country need an IEC i.e. Import Export Code, which is a 10 digit code with a lifetime validity facility issued based on the entity’s PAN.

The Import Export Code (IEC) is granted by the regional office of the Director-General of Foreign Trade (DGFT), Department of Commerce, Government of India to the respective Importer or an Exporter.

Import Export Code can be issued in the name of an individual or the name of the respective company.

FSSAI is an abbreviation for Food Safety and Standard Authority of India. It is an Organisation that keeps a close eye on and governs the food business in India. FSSAI is a self-governing body that is established under the Ministry of Health & Family Welfare, Government of India.

FSSAI License is issued to all traders, manufacturers, restaurants carrying any kind of food business which may be involved in processing or manufacturing operations. A unique 14 digit licence number is generated after applying for the FSSAI registration and this unique number has to be mentioned in all packages of food mandatorily.

Shop and Establishment Act is also known as a Shop License casually. The Shop and Establishment Registration is a state-based registration that is essential while starting any commercial place, shop, public amusement or entertainment, theatres, hotels, etc.

However, under the Shop and Establishment Act, it is applicable for every latest shop establishment to get it registered within 30 days of the opening of work. The issued license can be used as proof of a commercial business.