Key Features:

Legal Identity: The registration provides a shop or establishment with legal recognition and proof of business incorporation. 
Business Proof: It serves as a crucial document for obtaining other business licenses and registrations in India. 
Bank Account Opening: A Shop and Establishment Act license is essential for opening a current bank account in the name of the shop or establishment. 
Government Benefits: Registration can unlock access to various government schemes and benefits for businesses. 
Compliance: The Act ensures compliance with labor laws, including regulations regarding working hours, wages, leave, and employee rights. 
Record Keeping: Employers must maintain accurate records of employees and other relevant business operations. 

Benefits:

Legitimacy: It proves the authenticity of the business, when required. 
Financial Management: It facilitates dedicated business bank accounts, separating personal and business finances. 
Investment Platform: It helps in raising investments through loans or venture capital for the business. 
Protection of Employee Rights: The Act protects the rights and benefits of employees, including those regarding wages, working hours, and leave. 
Smooth Inspections: Having a license can streamline the process of inspections by local authorities. 
Access to Government Schemes: Registration allows businesses to avail of various government schemes and benefits.