Ministry of Corporate Affairs to launch Spice plus form

  • 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.

Spice+ form:

  • 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.
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