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The Ministry of Corporate Affairs has came out with a new simple application to make it easier for starting and incorporating a business entity in India through SPICE+ (Simplified Proforma for Incorporating Company Electronically Plus) thereby integrating 10 services from various ministries and Departments.
The new form consist of two parts namely Part A and Part B where PART – A deals with reservation of name which was earlier done through RUN (Reserving Unique Name) and PART – B for other host services like Incorporation, issuance of PAN, TAN, DIN allotment, Mandatory issue of EPFO and ESIC, Mandatory issue of opening Bank Account, Professional tax registration (Maharashtra) etc.
Benefits offered through new SPICE+
- On-screen filing and real time data validation for seamless incorporation of companies
- Structured format hence ensuring ease in filing data
- Information once entered can be saved and modified
- Mandatory issue of EPFO and ESIC for all new companies incorporated through SPICE+ and no EPFO and ESIC registrations will be done by the respective authorities.
- Saving time and cost for starting business in India.
Some of the Highlights of SPICE+
- Being a web based form it has a user friendly dashboard along with other applicable linked form.
- The new form offers an optional services to the user to either choose to submit Part A for reservation of name and after that submitting Part B for incorporation or may file Part A and Part B together availing multiple services together.
- With the introduction of SPICE+ RUN services will only be applicable for change of name of Company.
- Resubmission of applications for Company name reservation and/or incorporation shall be handled through the application number/Name applied for link on the new dashboard.
- A hyperlink will be provided for the SRN/application number, making it easy to resubmit, wherever required.
- Declaration as filed earlier under INC-9 for all the subscriber and Directors shall be auto generated in pdf form and is required to be submitted in electronic form except where:-
- Total number of subscribers and/or directors is greater than 20 and/or
- Any such subscribers and/or directors have neither DIN nor PAN.
- All check form and pre scrutiny validations shall be done on the web itself and except DSC Validation.
- Once all the relevant information is filed the said form is require to be converted into pdf and is required to be filed along with the linked forms as per the existing process.
- Changes and modifications are allowed even after generating pdf and affixing DSC and editing can be done in the saved web form and again the new pdf can be generated for affixing DSC and upload.
- All other validations will be done at uploading level.
