Start-up & Registration

Bookkeeping & Advisory

Taxation & Compliance

Audit & Assurance

Start-up & Registration

‘Start a business’ is a dream of many of us. It is an exciting and enriching experience in our life to become our own boss and create ideas that leads to high end success. Persons having great ideas can always enjoy their life as an employer rather than working for someone’s dream. As a business owner, when all the work we put in starts to bring results it can be thrilling and gainful experience, however we should be aware of the benefits as well as the risks. Accovet team can assure the service of making your thoughts in to a born and legally exist Start-up.

Incorporation/ Start-up

Company

Companies are the most accepted business model in India because of the essential features like limited liability, separate legal entity, transferability of shares, raising of fund from public etc. Public Limited companies offering Shares and Securities to public, Private Limited companies which are most popular corporate entity amongst small, medium and large businesses, One Person Company (OPC) which is recently introduced for bringing the sole proprietor under the Companies Act, Producer Companies which is a hybrid between a private limited company and a cooperative society etc. are the various companies registered under the Companies Act. Accovet Team can assure the service of a consultant partner for incorporating various breeds of companies in India. For More details place a request.

Format:

Useful link: Companies Act, 2013

Limited Liability Partnership (LLP)

Limited Liability Partnership is the most trending and worldwide recognized form of business organization introduced in India by way of Limited Liability Partnership Act, 2008. LLP can be described as an advanced form of Partnership Firms which combines the advantages of both the Company and Partnership into a single form of organization.Just like Companies, LLP’s also possess the feature of separate legal entity and limited liability. Features likeLow cost of Formation, Easy to establish, Less Compliance level and Government Interventions etc. makes more and more entrepreneurs opting LLP. Accovet Team can assure the service of a consultantpartner on the matters relating to the Registrations of Limited Liability Partnership. For More details place request.

Format:

Useful link: Limited Liability Partnership Act, 2008

Partnership Firms

Partnership Firms are the traditional business form still active in Indian Economy. Partnership is an agreement between two or more people to finance and operate a business. Small and medium Start-ups mostly prefer partnership model of business because of the simplicity of its constitution.Cost-effective as each partner specializes in certain aspects of their business and provide moral support and will allow for more creative brainstorming.Accovet Team can assure the service of a consultantpartner on the matters relating to the Registrations of Partnership Firm. For More details place request.

Format:

Useful link: Partnership Act, 1932

Sole Proprietorship

Sole Proprietorship is themost common and simplest formof business owned and operated by single person. Start-ups with small scale operations and investments can prefer to start as a sole proprietorship as they are relatively easy to start up and less costs. Registration and licensing requirements a sole proprietorship may vary depends upon the nature of business and the location you propose to start. Single Proprietor can also startOne Person Company (OPC). Accovet Team can assure the service of a consultantpartner on the matters relating to the Registration and licensing requirements of your Sole Proprietorship Business. For More details placerequest.

Format:

Useful link: Limited Liability Partnership Act, 2008

Non-profit organizations

Society, Trust& Sec 8 Companies are the main types of social entrepreneurship or non-profit organizations in India. They are socially responsible and promoting welfare of public. Private trusts are governed by Indian Trust Act, 1882 and Public charitable trusts Governed by State Laws are the types of Trust.

Format:

Useful link: Societies Registration Act, 1860

Registrations

SSI / MSME / Udyog Aadhaar registration

Small Scale Industries (SSI) or Micro, Small and Medium Enterprises (MSME) can register under the MSMED Act. It isn't necessary, but very beneficial to avail various incentives for development of industrial estates, tax subsidies, power tariff subsidies, capital investment subsidies and to avail some benefits like Excise Exemption, Exemption under Direct Tax Laws, Statutory support such as reservation and the Interest on Delayed Payments Act, Credit prescription (Priority sector lending), differential rates of interest etc. Both the Centre and the State, whether under law or otherwise, target their incentives and support packages generally to units registered with them.

Format:

Useful link: Companies Act, 2013

Import Export Code / Licence (IE Code)

IEC Stands for Importer Exporter Code which is issued by Director General of Foreign Trade, is required for undertaking import of export transactions and availing benefits under schemes like SEIS or MEIS. Any bona fide person/ company starting a venture for International trade of Export and Import and for any foreign transfer on account of business, IEC number is mandatory. Import Export Code number is the primary proof of a firm as an Exporter/Importer in India. IEC number can be submitted with government authorities as a proof of exporter/importer to obtain various benefits on their exports / imports from DGFT, customs, Export Promotion Council etc.

Format:

Useful link: Limited Liability Partnership Act, 2008

Trade License / Shops & Establishment Licence

Shops & Establishment Licencealso known as Trade Licence is a must have document for shops, businesses and establishments of any kind in India, it is necessary to have one even to open a bank account for your business.One such important legislation is the Shops and Establishments Act, enacted by every state in India to regulate conditions of work and to provide for statutory obligations of the employers and rights of the employees in un-organized sector of employment and other establishments in their jurisdiction. This act lays down the following rules likeWorking hours per day and week,, Guidelines for spread-over, rest interval, opening and closing hours, closed days, national and religious holidays, overtime work., Rules for employment of children, young persons and women., Rules for annual leave, maternity leave, sickness and casual leave, etc., Rules for employment and termination of service., Maintenance of registers and records and display of notices., Obligations of employers as well as employees.

Format:

Useful link: Kerala Shops and Commercial Establishment Act 1960 and Rules

FSSAI / Food Safety licence

FSSAI is an abbreviation used for Food Safety and Standards Authority of India. FSSAI license is mandatory before starting any food business.This step is taken by government to ensure that food products undergo certain quality checks, thereby reducing the instances of adulteration, substandard products and improve accountability of manufacturers. All the manufacturers, traders, restaurants who are involved in food business must obtain a registration or a license number which must be printed on food packages. Food Business Operators can apply for the Registration and Licensing On the basis of your assessment and eligibility criteria of each of your businesses as basic registration, state registration, central registration etc.

Format:

Useful link: Limited Liability Partnership Act, 2008

ESI registration

Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, free supply of physical aids etc. to the employees and their family.Units or Establishments that have 10 or more employeesdrawing the wages of up to the limits notified are required to be registered for ESIC. The benefits provided by the scheme are funded from the contributions raised from covered employees and their employers at the fixed percentage of wages.

Format:

Useful link: ESI Act 1948

EPF registration

EPF is one of the main platform of savings in India for nearly all people working in Government, Private or Public sector organizations. It is implemented by the Employees Provident Fund Organization (EPFO) of India.Units or Establishmentswhich have employee strength of 20 or more are required to be registered with PF Department. The capacity of 20 includes contract employees like housekeeping, security or other contractual workers in the business. Those units which do not have the endorsed number of employees but willing to register themselves to provide the advantages of Provident Fund to their employees can register voluntarily. Registration has to be done within One month from the date of hiring 20 employees.

Format:

Useful link: Employees Provident Fund and Miscellaneous Provisions Act, 1952

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Accovet Business Solutions LLP

TC 9/1340-2, First Floor, Parvathy Complex, Opp. Market,

Sreekariyam P.O, Thiruvananthapuram,

Kerala, 695017, India

Phone: +91 956 778 1143

Phone: +91 984 680 4165

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