A sole proprietorship is a type of unregistered business entity that is owned, managed and controlled by one person. Sole proprietorship's are one of the most common forms of business in India, used by most micro and small businesses operating in the unorganised sectors. Proprietorships are very easy to start and have very minimal regulatory compliance requirement for started and operating. However, after the startup phase, proprietorship's do not offer the promoter a host of benefits such as limited liability proprietorship, corporate status, separate legal entity, independent existence, transferability, perpetual existence - which are desirable features for any business. Therefore, proprietorship registration is suited only for unorganised, small businesses that will remain small and/or have a limited period of existence. There is no mechanism provided by the Government of India for the registration of a Proprietorship. Therefore, the existence of a proprietorship must be established through tax registrations and other business registrations that a business is required to have as per the rules and regulations. For instance, VAT or Service Tax or GST Registration can be obtained in the name of the Proprietor to establish that the Proprietor is operating a business as a sole proprietorship. Thus, all the registrations for a proprietorship would be in the name of the Proprietor, making the Proprietor personally liable for all the liabilities of the Proprietorship. YKDC Fincorp is the market leader in company registration services in India, offering a variety of company registration like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration , Producer Company Registration and Indian Subsidiary registration. The average time taken to complete a proprietorship registration is 3 - 5 working days, subject to government processing time and client document submission. Get a free consultation for proprietorship registration and business setup in India by scheduling an appointment with a YKDC Fincorp Advisor. Only one person is required to start a Proprietorship and a Proprietorship can have only one promoter.

The Proprietor must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India.

PAN Card for the Proprietor along with identity and address proof is sufficient to start a Proprietorship and obtain other registration, as applicable or required.

A YKDC Fincorp Associate will understand your business requirements and help you start a Proprietorship by obtaining the relevant registrations. YKDC Fincorp will help obtain the necessary registrations to help the Proprietor open a bank account in the name of the business, thereby proving an identity for the business.

To open a bank account for a Proprietorship, Reserve Bank of India mandates that the proprietor provide two forms of registration for the Proprietorship along with the PAN Card, identity proof and address proof of the Proprietor. The two forms of registration can be any two of the following: service tax registration, MSME registration, VAT/TIN/CST registration, shop & establishment Act registration, Professional license, Chartered Accountant certificate or others as provided in the RBI Know Your Customer norms.

Proprietorship firms do not have a Certificate of Incorporation or Certificate of Registration. The identity and legitimacy of a Proprietorship firm is established by registering with the relevant or applicable Government authorities.

There is no registry or regulation for the registering the name of a Proprietorship. Therefore, proprietorship firms can adopt any name that do not infringe on registered trademarks. Since there are no registry or regulation for registering the name of a Proprietorship, the only way to ensure exclusive use of the business name is to obtain a trademark registration of the business name.

A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start are is prevalent amongst small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership. There are two types of Partnership firms, registered and un-registered Partnership firm. It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages. Partnership firms are created by drafting a Partnership deed amongst the Partners and YKDC Fincorp can help start a registered or un-registered Partnership firm in India.

A minimum of two Persons is required to start a Partnership firm. A maximum number of 20 Partners are allowed in a Partnership firm.

The Partner must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India.

PAN Card for the Partners along with identity and address proof is required. It is recommended to draft a Partnership deed and have it signed by all the Partners in the firm.

An YKDC Fincorp Associate will understand your business requirements and help you start a Partnership firm by drafting the Partnership deed. Based on the requirements, YKDC Fincorp can also help register the Partnership deed with the relevant Authorities to make the Partnership Firm a Registered Partnership firm.

The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). Similar to a Company, a One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate. Though a One Person Company allows a lone Entrepreneur to operate a corporate entity with limited liability protection, a OPC does have a few limitations. For instance, every One Person Company (OPC) must nominate a nominee Director in the MOA and AOA of the company - who will become the owner of the OPC in case the sole Director is disabled. Also, a One Person Company must be converted into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year like all types of Companies. Therefore, it is important for the Entrepreneur to carefully consider the features of a One Person Company prior to incorporation. YKDC Fincorp is the market leader in company registration services in India, offering a variety of company registration like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration and Indian Subsidiary registration. The average time taken to complete a one person company registration is about 10 - 15 working days, subject to government processing time and client document submission. Get a free consultation for one person company registration and business setup in India by scheduling an appointment with a YKDC Fincorp Advisor. To incorporate a One Person Company, a Director and a nominee is required. A nominee member is one, who shall, in the event of promoter member`s death or incapacitation become a member of the Company.

Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.

Authorized capital of a Company is the amount of shares a company can issue to it shareholders. Companies have to pay the Government an authorized capital fee to issue shares in a Company. Companies have to pay authorized capital fee for a minimum of Rs.1 lakh.

Only a natural person who is an Indian citizen and a resident in India is eligible to incorporate a One Person Company or be a nominee member. The Director or Nominee must also be over 18 years of age. A person can incorporate upto five One Person Companies.

Identity proof and address proof is mandatory for all the proposed Director and Nominee of the One Person Company. PAN Card is mandatory. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.

Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners. Since, its introduction in 2010, LLPs have been well received with over 1 lakhs registrations so far until September, 2014. The main advantage of a Limited Liability Partnership over a traditional partnership firm is that in a LLP, one partner is not responsible or liable for another partner's misconduct or negligence. A LLP also provides limited liability protection for the owners from the debts of the LLP. Therefore, all partners in a LLP enjoy a form of limited liability protection for each individual's protection within the partnership, similar to that of the shareholders of a private limited company. However, unlike private limited company shareholder, the partners of a LLP have the right to manage the business directly. LLP is one of the easiest form of business to incorporate and manage in India. With an easy incorporation process and simple compliance formalities, LLP is preferred by Professionals, Micro and Small businesses that are family owned or closely-held. Since, LLPs are not capable of issuing equity shares, LLP should be used for any business that has plans for raising equity funds during its lifecycle. YKDC Fincorp is the market leader in LLP registration services in India. In addition to LLP registration, YKDC Fincorp also offers a variety of business registration services like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration and Indian Subsidiary registration. The average time taken to complete a LLP registration is about 15 - 20 working days, subject to government processing time and client document submission. Get a free consultation on LLP registration and business setup in India by scheduling an appointment with a YKDC Fincorp Advisor. To incorporate a Limited Liability Partnership, a minimum of two people are required. A Limited Liability Partnership must have a minimum of two Partners and can have a maximum of any number of Partners.

The Designated Partners needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, the LLP Act 2008 allows Foreign Nationals including Foreign Companies & LLPs to incorporate a LLP in India provided at least one designated partner is resident of India.

You can start a Limited Liability Partnership with any amount of capital. There is no requirement to show proof of capital invested during the incorporation process. Partner's contribution may consist of both tangible and/or intangible property and any other benefit to the LLP.

Yes, an existing partnership firm or a company that is unlisted can be converted into LLP. There are many advantages of converting a partnership firm into a LLP; however, the same doesn't apply for the conversion of a Company to a LLP.

To incorporate a LLP quickly, make sure the proposed name of the Limited Liability Partnership is very unique. Names that are similar to an existing private limited company / limited liability partnership / trademark can be rejected and additional time will be required for resubmission of names.

Private Limited Company is the most prevalent and popular type of corporate legal entity in India. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. To register a private limited company, a minimum of two shareholders and two directors are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be a shareholder. Further, foreign nationals, foreign corporate entities or NRIs are allowed to be Directors and/or Shareholders of a Company with Foreign Direct Investment, making it the preferred choice of entity for foreign promoters. Unique features of a private limited company like limited liability protection to shareholders, ability to raise equity funds, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses that are family owned or professionally managed. YKDC Fincorp is the market leader for services relating to company registration in India. YKDC Fincorp can help you register a private limited company, one person company, nidhi company, section 8 company , producer company or Indian subsidiary. The average time taken to complete company formation is about 10 - 15 working days, subject to government processing time and client document submission. Get a free consultation for private limited company registration and business startup by scheduling an appointment with a YKDC Fincorp Advisor. To register a private limited company, a minimum of two people are required to act as directors and shareholders. The directors must be natural persons, while the shareholders can be natural persons or corporate entities. In addition, a registered office address in India is also required for company registration.

Starting a company is easy through YKDC Fincorp. All that is required are PAN card of the promoters, address proof and bank statement copies of the promoters along with address proof for the registered office address. A company can be started in about 10 - 15 days. If you have the necessary documents, sign up for one of our packages and have a company registered with guidance from one of our Advisors.

Limited liability is the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a private limited company the liability of the shareholders in respect of the company’s liabilities is limited. In other words, the liability of the shareholders of a company is limited only to the value of shares taken up by them.

Yes, every company registered in India must have a registered office where all official communication is sent by the MCA, governmental agencies, financial institutions, etc., The registered office of a company can be in any state of India.

Authorised capital is the maximum value of equity shares that can be issued by a company. On the other hand, paid up capital is the amount of shares issued by the company to shareholders. Authorised capital can be increased after incorporation at anytime to issue additional shares to the shareholders.

A limited company grants limited liability to its owners and management. Being a public company allows a firm to sell shares to investors this is benificial in raising capital. A minimum of three Directors are required for establishing a Public Limited Company and it has more stringent regulatory requirements compared to a Private Limited Company. Public Limited Companies are those types of companies where minimum number of members is seven and there is no cap on the maximum number of members. A public limited company has most of the characteristics of a private limited company. A public limited company has all the advantages of private limited company and the ability to have any number of members, ease in transfer of shareholding and more transparency. Identifying marks of a public limited company are name, number of members, shares, formation, management, directors and meetings, etc., To incorporate a Limited Company, a minimum of seven people are required. A Limited Company must have a minimum of three Directors and seven shareholders.

The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Indian Private Limited Company. You can start a Limited Company with any amount of capital. However, fee must be paid to the Government for issuing a minimum of shares worth Rs.5 lakhs [Authorized Capital Fee] during the incorporation of the Company. There is no requirement to show proof of capital invested during the incorporation process.

Identity proof and address proof is mandatory for all the proposed Directors of the Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.

Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number. Authorized capital of a Company is the amount of shares a company can issue to it shareholders. Companies have to pay the Government an authorized capital fee to issue shares in a Company. Companies have to pay authorized capital fee for a minimum of Rs.5 lakhs.

Yes, a NRI or Foreign National can be a Director in a Limited Company after obtaining Director Identification Number. However, atleast one Director on the Board of Directors must be a Resident India. Yes, NRIs / Foreign Nationals / Foreign Companies can hold shares of a Limited Company subject to Foreign Direct Investment (FDI) Guidelines. 100% Foreign Direct Investment is allowed in India in many of the industries under the Automatic Route. Under the Automatic Route, only a post-investment filing is necessary with the RBI indicating the nature of investment made. There are a few industries that require prior approval from the RBI, in such cases, approval must first be obtained from RBI prior to investment.

Nidhi Company is a company registered under the Companies Act, 2013, which has a sole objective of cultivating the habit of thrift and savings amongst its members. Nidhi companies are allowed to take deposit from its members and lend to its members only. Therefore, the funds contributed for a Nidhi company are only from its members (shareholders) and used only by the shareholders of the Nidhi Company. Nidhi company is a class of NBFCs and RBI is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these Nidhis deal with their shareholder-members only, RBI has exempted the notified Nidhis from the core provisions of the RBI Act and other directions applicable to NBFCs. Therefore, Nidhi Company is an ideal entity to take deposit from and lend to a specific group of people. A minimum of 3 directors and 7 shareholders are required to register a Nidhi company in India.

An address in India where the registered office of the Company will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received. Identity proof and address proof is mandatory for all the proposed Directors of the Nidhi Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.

YKDC Financial Services can incorporate a Nidhi Company for in 20-30 days. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.

Once a Nidhi Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. A Nidhi Company must have a minimum of 200 shareholders and comply with other criteria within one year of incorporation. In case, annual compliances are not complied with, the Nidhi Company will be asked to refund the deposits.

Nidhi's are companies registered under section 620A of the Companies Act, 1956(Section 406 of the new Companies Bill 2012, as passed by Lok Sabha) and is regulated by Ministry of Corporate Affairs (MCA).

Section 8 Company is named Section 8 of the Companies Act, 2013, which pertains to a established 'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object', provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. Therefore, Section 8 Company or Section 25 Company is a company registered under the Companies Act, 2013 for charitable or not-for-profit purposes. A Section 8 Company is similar to a Trust or Society; expect, a section 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 company has various advantages when compared to Trust or Society like improved recognition and better legal standing. Section 8 company also has higher credibility amongst donors, Government departments and other stakeholders. A minimum of two people are required to register a section 8 company in India.

The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Indian Section 8 Company. Identity proof and address proof is mandatory for all the proposed Directors of the Section 8 Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.

YKDC Financial Services can incorporate a Section 8 Company for in 20-30 days. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.

Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.

Yes, a NRI or Foreign National can be a Director in a Section 8 Company after obtaining Director Identification Number. However, atleast one Director on the Board of Directors must be a Resident India.

A Digital Signature is the equivalent of a physical signature in electronic format, as it establishes the identity of the sender of an electronic document in the Internet. Digital Signatures are used in India for online transactions such as Income Tax E-Filing, Company or LLP Incorporation, Filing Annual Return, E-Tenders, etc., There are three types of Digital Signatures, Class I, Class II and Class III Digital Signature. Class I type of Digital Signatures are only used for securing email communication. Class II type of Digital Signatures are used for Company or LLP Incorporation, IT Return E-Filing, Obtaining DIN or DPIN, and filing other forms with the Ministry of Corporate Affairs and Income Tax Department. Class III type Digital Signatures are used mainly for E-Tendering and for participating in E-Auctions. Digital Signatures come in the form of a USB E-Token, wherein the Digital Signature Certificate is stored in a USB Drive and can be accessed through a computer to sign documents electronically. With E-Return filing becoming mandatory for Income Tax Assesses with an income of over Rs.5 lakhs per annum, the requirement and prevalence of Digital Signatures has increased manifold. YKDC Fincorp can help you obtain your Digital Signature hassle-free online. YKDC Financial Services is a Registered Partner of Capricon CA.

MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required. Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support. YKDC Fincorp can help your business obtain MSME Registration to avail a host of benefits.

Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 - 20 working days or less. Validity of IE Code IE Code registration is permanent registration which is valid for life time. Hence, there will be no hassles for updating, filing and renewal of IE Code registration. It is valid till the business exists or the registration is revoked or surrendered. Further, unlike tax registrations like GST registration or PF registration, the importer or exporter does not require to file any filings or follow any other compliance requirement like annual filing. As IE code registration is one-time and require no additional compliance, it is recommended for all companies and LLPs to obtain IE code after incorporation. IE Code Exemption An Import Export Code is required for import of any type of goods by a business. However, the following are category of persons are exempted from obtaining an IE Code: Importer and export by central government or agencies or undertakings for defense purpose or other specified list under Foreign Trade (exemption from application of rules in certain cases) Order, 1993. Import or Export of Goods for personal use. RCMC Registration Persons having import export code can apply for and obtain RCMC registration. Registration-Cum-Membership Certificate (RCMC) is a certificate that validates an exporter dealing with products registered with an agency/ organization that are authorised by the Indian Government. The certificate is issued for five years by the Export Promotional Councils or commodity board in India. An exporter desiring to obtain an RCMC has to declare his mainstream business in the application. This application would be submitted to the Export Promotion Council/ Commodity Board relating to that line of business.

No. IE Code is not a tax registration. So no tax is levied based on IE Code during import or export of goods or services. However, customs duty maybe levied. Any person who proposes to import or export goods and services from or to India must obtain IE Code.

Yes, individuals acting as Proprietors of a business can obtain IE Code Registration. To obtain IE Code registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a letter from the banker is required.

IE Code is not a mandatory registration, only importers and exporters of goods or services must have IE Code. Therefore, there is no penalty for not having IE Code; however, import / export will not be possible without an IE Code. IE Code Registration can be obtained from the DGFT in 10-15 working days after submission of all required documents and application.

IE Code is valid for life-time of the entity and renewal is also not necessary. No. Returns need NOT be filed for IE Code.

The Food Safety & Standards Act, 2006 introduced to improve the hygiene and quality of food has brought about tremendous changes in the food industry. As per the Act, no person shall commence or carry on any food business except under a FSSAI license or FSSAI registration. Therefore, any food manufacturing or processing or packaging or distributing entity is now required to obtain a FSSAI License or Registration. FSSAI Registration FSSAI registration is required for all petty food business operator. Petty food business operator is any person or entity who: Manufacturers or sells any article of food himself or a petty retailer, hawker, itinerant vendor, juice stall, sweets shops or temporary stall holder; or Hawker selling packaged or freshly prepared food by travelling on movable cart or foot from one location to other. Small scale or cottage or such other industries relating to food business or tiny food businesses with an annual turnover not exceeding Rs 12 lakhs and whose: Production capacity of food (other than milk and milk products and meat and meat products) does not exceed 100 kg/ltr per day or Procurement or handling and collection of milk is up to 500 litres of milk per day or Slaughtering capacity is 2 large animals or 10 small animals or 50 poultry birds per day or less. Petty food business operators are required to obtain a FSSAI registration by submitting an application for registration in Form A. On submission of a FSSAI registration application, the registration should be provided or application rejected in writing within 7 days of receipt of an application by authority. FSSAI License - State Any person or entity that does not not classify as a petty food business operator is required to obtain a FSSAI license for operating a food business in India. FSSAI license is of two types, State FSSAI License and Central FSSAI License. Based on the size and nature of the business, the licensing authority would change. Some of the types of entities that require FSSAI state license are: Hotel providing lodging, meals and other guest services - upto four star rating. Restaurants and bars having turnover of upto Rs.20 crores per year Club/Canteen Caterers having turnover of upto Rs.20 crores per year Food vending agencies having upto 100 vending machines in only 1 state Mid day meal caterers having turnover of upto Rs.20 crores Mid day meal canteens having turnover of more than Rs.12 lakhs per year Food product marketers with a turnover of upto Rs.20 crores per year Food retailers with a turnover of upto Rs.20 crores per year Food suppliers with a turnover of upto Rs.20 crores per year Food product distributors with a turnover of upto Rs.20 crores per year Food product wholesales with a turnover of upto Rs.30 crores per year Food transporters having upto 100 vehicles and a turnover of upto Rs.30 crores per year Dairy units processing over 500 liters of milk per day or 2.5 MT of milk solids per year Vegetable oil processing units with turnover of more than Rs.12 lakhs per year Slaughter house processing more than 50 poultry birds or 11 small animals or 3 large animals Meat processing unit with a capacity of more than 500kg of meat per day or 150 MT of meat per year All grains, cereals, pulses milling units without any limit on production capacity Food manufacturing or processing or packing unit with turnover of more than Rs.12 lakhs per year or production capacity of more than 100kg or 100 liters per day Cold storage unit with turnover of more than Rs.12 lakhs per year Cold + Atmospheric Controlled Storage with turnover of more than Rs.12 lakhs per year Storage unit with turnover of more than Rs.12 lakhs per year FSSAI License - Central Large food manufacturers / processors / transporters and importers of food products require central FSSAI license. Some of the types of entities that require FSSAI central license are: Five star hotels Restaurants with a turnover of more than Rs.20 crores per year Caterers with a turnover of more than Rs.20 crores per year Food vending agencies with more than 100 vending machines or having machines in two or more states Food product importers Food product exporters Selling food products through e-commerce Registered office of food business operators having operations in two or more state Food business activity in premises belonging to Central Government Agencies Departmental Canteens at the premises belonging to Central Government Institutions Food business activity in Airport or Seaport Food business activity in Railway Stations Food product marketers with turnover of more than Rs.20 crores per year Food product retailers with turnover of more than Rs.20 crores per year Food product suppliers with turnover of more than Rs.20 crores per year Food product distributors with turnover of more than Rs.20 crores per year Food product wholesalers with turnover of more than Rs.30 crores per year Food product transporters with turnover of more than Rs.30 crores per year and having more than 100 vehicles Proprietary or novel food manufacturers Mid-day meal caterers with a turnover of more than Rs.20 crores per year Food manufacturing or processing or packing unit with a production capacity of more than 2MT per day Dairy units with capacity to process more than 50,000 liters of milk per day or more than 2500MT of milk solids per year Vegetable oil processing units with a processing capacity of more than 2MT per day Slaughtering house with a capacity to process over 1000 birds or 150 small animals or 50 large animals per day Meat processing units with processing capacity of more than 500kg of meat per day or 150MT of meat per annum Cold storage units with a capacity of more than 10,000 MT Cold storage that is atmospheric controlled with a capacity of more than 1000 MT Food storage with a capacity of more than 50,000 MT

A place of business within a State, Corporation or Municipality will require a trade license from the concerned State Government or Corporation or Municipality for operating. Rules and regulations pertaining to trade license varies from state to state. Hence, to obtain trade license, the applicant must first understand the jurisdiction under which he/she is operating the business and the applicable Act. In most states, the application for grant or renewal of license will be made to a Commissioner in the Corporation. The application must be made within 30 days of starting to operate a business. On applying with the required information and documents, the concerned Officer will ensure that the business is suitable for the purpose used, there is no possibility of danger or nuisance for any person around and issue the license. Trade license would normally be issued within a period of 7-15 days on submission of application. YKDC Fincorp can help you obtain trade license for your business. Get in touch with a YKDC Fincorp Advisor to know more about the rules and regulations applicable for your business and begin the process of applying for a trade license.

A trademark is a visual symbol, which may be a word, name, device, label or numerals used by a business to distinguish it goods or services from other similar goods or services originating from a different business. A registered trademark is an intangible asset or intellectual property for a business and is used to protect the company's investment in the brand or symbol. A trademark is registrable if it is distinctive for the goods and services you provide. Proposed trademarks that are similar or identical to an existing registered trademark cannot be registered. Also, trademarks are not registrable if it is offensive, generic, deceptive, not distinctive, contains specially protected emblems, etc., Trademarks in India are registered by the Controller General of Patents Designs and Trademarks, Ministry of Commerce and Industry, Government of India. Trademarks are registered under the Trademark Act, 1999 and provide the trademark owner with a right to sue for damages when infringements of trademarks occur. Once a trademark is registered, R symbol can be used and the registration will be valid for 10 years. Registered trademarks nearing expiry can be easily renewed by filing a trademark renewal application for a period of another 10 years. YKDC Fincorp is the market leader in trademark filing services in India, offering a variety of trademark services like trademark filing, trademark objection reply, trademark opposition, trademark renewal and patent registration. Get a free consultation for trademark registration by scheduling an appointment with a YKDC Fincorp Trademark Expert. Any word, name, device, label, numerals or a combination of colors that can be represented graphically (in a paper) can be registered as a trademark. The trademark to be registered must also be distinctive for the services or goods for which it is proposed to be registered.

Any trademark, which is identical or deceptively similar to an existing registered trademark or trademark for which application for registration has been made, cannot be registered. Also trademark that would likely cause deception or confusion or is offensive may not be registered. Geographical names, common names, common trade words and common abbreviation can also not be registered as a trademark. To standardise the goods or services, which the trademark will represent, the Trademark Registry has a list of 45 Classes under which all types of goods and services are represented. The trademark application must mention the type of goods or services the trademark will represent under one or more of the classes, and trademark registration is granted for that specific class of goods or service.

The TM mark can be used along with the trademark once the trademark application is filed with the Controller General of Patents Designs and Trademarks.

The ® mark can be used once the trademark application is approved by the Controller General of Patents Designs and Trademarks and trademark registration is provided.

Registered trademarks are valid for 10 years from date of filing. Prior to the end of the validity, the trademark owner can file for renewal to keep the trademark protection current.

An entity liable to be registered under GST should apply for registration under GST within 30 days from the date on which the entity becomes liable to register for GST. Casual taxable persons and non-resident taxable persons are required to be registered under GST, prior to commencing business.

No. An entity operating in multiple states will have to get registered separately for each of the States from where taxable supply of goods or services is made. Procedure has been provided in the GST portal for migration of existing service tax or VAT or central excise to GST. Entities registered under old tax laws must complete GST migration mandatorily to obtain GST.

GST certificate is provided by the Government only in soft-copy format. Once GSTIN is allotted, GST certificate can be downloaded from the GST Portal at anytime by the taxpayer.

Aggregate turnover is the aggregate value of all taxable supplies, exempt supplies, export of goods or services or both and inter-State supplies of a person having same PAN. Aggregate turnover does not include CGST, SGST, IGST and GST cess.

After submission of GST application with all the required documents, GSTIN is alloted within 7 working days.

Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the umbrella of Employees’ Provident Fund Organisation (EPFO). PF registration is applicable for all establishment which employs 20 or more persons. PF registration can also be obtained voluntarily by establishments having less than 20 employee. The PF contribution paid by the employer is 6% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee. In case of establishments which engage less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and the employer is restricted to 10%. For most employees working in the private sector, it’s the basic salary on which the contribution is calculated. It is obligatory that employees’ drawing less than Rs 15,000 per month, to become members of the EPF. As per the guidelines in EPF, employee, whose ‘basic pay’ is more than Rs. 15,000 per month, at the time of joining, is not required to make PF contributions. Nevertheless, an employee who is drawing a pay of more than Rs 15,000 can still become a member and make PF contributions, with the consent of the Employer.

Employee's State Insurance(ESI) is a self-financing social security and health insurance scheme for Indian workers. For all employees earning INR 21000 or less per month as wages, the employer contributes 4.75 percentage and employee contributes 1.75 percentage, total share 6.5 percentage. This fund is managed by the ESI Corporation (ESI) according to rules and regulations stipulated therein the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. But most of the dispensaries and hospitals are run by concerned state governments. Employees registered under the ESI enjoy a range of benefits under the scheme. Employee enjoy medical attendance and treatment for the person insured and their families including full range of medical, surgical and obstetric treatment, supply of all drugs, ambulance services, super-specialty consultation, etc., In addition, to the medical care, insured persons also enjoy sick pay benefits. Registration with ESI provides the employee with tremendous benefits and improves worker morale and retention. IndiaFilings can help your Company obtain and manage ESI Registration.