Need for MSME Registration for Your Organization in India

MSME registration India is necessary to derive numerous benefits and incentives floated by the Indian government for MSMEs in India. MSMEs are the backbone of the Indian industry and economy of India. To take benefits of the incentives and Schemes, MSMEs shall be registered with the Government of India. MSME registration india helps MSMEs in the country to easily gain major benefits from the Government. MSME registration was introduced in the year 2006 and has been classified based on investment criteria. These are applied across the plant and machinery, equipment and many more. MSME classification was also updated by inserting the annual investment along with the annual criteria. MSME registration fulfils MSME classification from the government portal.

Eligibility for MSME Registration:

Normally, all the retail trade companies, manufacturing, wholesale and service industries fulfill revised MSME classification criteria. These involve annual turnover as well as investment applied for the MSME registration. MSME registration eligibility will be completely based on the annual turnover along with the investment of the entity. The company needs to be a startup, business owner, Sole proprietorship, Limited Liability Partnership (LLP) or even Partnership firm for making the MSME registration in the country. The organization gets more benefits such as taxation, credit facilities, taxation, setting up the business, availing loans and more.

 POSH Act:

PoSH Act is implemented in India, and it defines sexual harassment, including unwelcome acts. These are sexual advances, physical contact, requests for sexual favours, showing pornography, making sexually coloured remarks and many more. Sexual Harassment of Women in the Workplace has been implemented in posh law India. Prevention, Prohibition and Redressal Act, 2013 (PoSH) has been implemented by the Supreme Court Bench of India. These have been enabled in every Union, State, and Union Territories in the country. POSH Act has been enabled in India to address issues regarding the sexual harassment of women in the workplace. The main aim of this Act is to create a conducive and safer working space or environment for women. These also provide better protection against sexual harassment. PoSH Act defines sexual harassment as unwelcome acts that include unwelcome physical, verbal, or even non-verbal conduct. Based on Section 19 (b) of the POSH Act states displaying penal provisions of sexual harassment could lead to imprisonment for a term extended to three years.