EPF & ESIC Registration Mandatory for all New Companies

The Ministry of Corporate Affairs has introduced noteworthy amendments to the provisions for the companies from time to time. With a view to boost as well as simplify the business compliance among the Indian companies, MCA has brought a new compact e-Form SPICe+. With its effect, all new companies are supposed to obtain Mandatory EPF Registration as well as ESIC Registration.

In order to understand this rule in detail, we need to first get familiar with the compact e-Form SPICe+.

1. What is all about SPICe+?

SPICe+ is an abbreviation for Simplified Proforma for Incorporating Company Electronically plus (SPICe+). This is a compact e-Form which is to be filed for the company incorporation. SPICe+ form will enable the new startup companies to fulfill the following business compliances through a single form:-

• Company name reservation, 

• company incorporation, 

• Allotment of the DIN, 

• mandatory PAN registration 

• TAN registration, 

• EPF registration, 

• ESIC registration, 

• Profession Tax registration (in case of Maharashtra) and 

• Opening of Company Bank Account.

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2. How will SPICe+ form ensure Mandatory EPF & ESIC Registration?

With the SPICe+ form being effective, EPF Registration and ESIC registration shall now be mandatory for all the new companies that are to be incorporated through SPICe+ with effect from 23rd February 2020. 

Henceforth, the separate EPFO & ESIC registration of new companies shall not be done by the respective agencies.

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If you want any sort of guidance regarding the process of filing the e-Form SPICe+, you can feel free to contact our business advisor at 8881-069-069.

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