- The Ministry of Corporate Affairsis set to launch the new company incorporation form “Spice+”. This is a part of a comprehensive package to make life easier for someone starting a business. It will be launched on 15 February 2020.
- The form has at least five new formalities including Employees’ Provident Fund Organisation (EPFO), Employees’ State Insurance Corporation (ESIC)and professional tax registration, the opening of bank account and GST registration.
- The new form will reduce the time taken and the cost of registering a company that was estimated at around 4 hours in December-January.