Companies (Incorporation) Amendment Rules 2020 & Release of new Company Incorporation Form (SPICE+)

As part of Government of India’s ease of doing Initiatives, Central Government on 6th February, 2020 has amended Companies (Incorporation) Rules, 2014 by issue of Companies (Incorporation) Amendment Rules, 2020. The rule shall be made applicable for all new company incorporation with effect from 15th Feb, 2020.

To implement these rules MCA is going to release new incorporation Form ‘SPICe+’ which will be an integrated Web Form that will have two Parts, ‘Part A’ for reservation of Name of Company and ‘Part B’ for registration related services.

It is to bring it to your kind attention that the Second part of the form viz. “Part B” of the form it has been now made mandatory for the new companies to apply for “EPFO Registration”, “ESIC Registration”, “Professional Tax Registration (For Maharashtra)” and “Opening of Bank Account”.

List of services offered through Part B of the form and their applicability has been tabulated below for reference:

S. No. Services offered Applicability
1 Incorporation Mandatory
2 DIN Allotment If director does not possess DIN
3 PAN Allotment Mandatory
4 TAN Allotment Mandatory
5 EPFO Registration Mandatory
6 ESIC Registration Mandatory
7 Profession Tax Registration (Maharashtra) Mandatory
8 Opening Bank Account Mandatory
9 GSTIN Allotment If opted

 However, it’s a good move by government to afford a single window for the new companies to get all registrations on a single go, but at the same time making PF and ESI registrations mandatory for new companies will add further to the compliance burden on the new companies.

Please refer following link “http://www.mca.gov.in/Ministry/pdf/Rules4_07022020.pdf” for amended rules. Yet Spice + e-Form is not introduced by Ministry.