8,307.15-290.6
Stock Analysis, IPO, Mutual Funds, Bonds & More

New portal: SPICe+ Web form, new rules for company incorporation

The simplified application provides for Employees' Provident Fund Organisation (EPFO) and Employees' State Insurance Corporation (ESIC) registration among other things. The ministry of corporate affairs and labour, department of revenue and the Maharashtra government have collaborated for the new offering.

ET Bureau|
Last Updated: Feb 25, 2020, 12.02 AM IST
0Comments
Business
India had improved its ranking to the 63rd spot on the World Bank’s Ease of Doing Business (EODB) survey, out of 190 countries. However, the report had cited India was lagging behind in certain parameters such as starting a business.
NEW DELHI: The government has rolled out a new simple application to make it further easier for incorporating a business in India. The new web form, Simplified Proforma for Incorporating Company Electronically Plus (SPICe+), which integrates 10 services from various ministries and departments went online on Sunday.

The simplified application provides for Employees' Provident Fund Organisation (EPFO) and Employees' State Insurance Corporation (ESIC) registration among other things. The ministry of corporate affairs and labour, department of revenue and the Maharashtra government have collaborated for the new offering.

India had improved its ranking to the 63rd spot on the World Bank’s Ease of Doing Business (EODB) survey, out of 190 countries. However, the report had cited India was lagging behind in certain parameters such as starting a business.

This is seen as an effort towards achieving the government’s target of reaching the 50th spot. The new form is split into two parts, one for reserving a company name, and one for a host of services such as PAN and TAN issue, DIN allotment, professional tax registration in Maharashtra, etc.

The reserve unique name (RUN) web service will now only be applicable for a change of name with SPICe+ coming in. In the 2019 EODB rankings, the World Bank had placed India at the 136th spot for ease of starting business. The country was ranked 154th and 115th for paying taxes and enforcing contracts in the survey.

Also Read

How to link PAN with Aadhaar

PAN-Aadhaar linking: What will happen if PAN is not linked with Aadhaar by December 31?

What happens if you don't link PAN, Aadhaar and PAN becomes inoperative?

How to get 'free' e-PAN using Aadhaar

Foreign entities seek relief from furnishing hard copies for PAN

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service