Government provides help to Companies for incorporation and exit under Ease of Doing Business initiatives

Union Minister of State for Corporate Affairs Harsh Malhotra today said that under the Ease of Doing Business initiatives the Centre is providing several help to Companies for incorporation and exit. Replying to a question in Lok Sabha the Union Minister said during the time of incorporation of companies the process takes place now one to two days instead of earlier 15 to 16 days.

Mr. Malhotra said the necessary permission regarding PAN and TAN allocation, EPFO, ESIC and account opening is completed nowadays in one or two days under the Ease of Doing Business under the leadership of Prime Minister Narendra Modi-led government. He said for the exit or strike-off option for the companies the process is disposed within 80 days in comparison to earlier 2 to 3 years. The Minister said those who opt for exit are also exempted from filing of financial information and Annual Return for the current year.