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Any of this announcement hits your mind then your best business choice is to join a One Person Company. So let us investigate about OPC.
The idea of One Person Company was presented without precedent for Companies Act, 2013. One individual Company implies a Company oversaw and keep running by 1 individual i.e. single individual. So the OPC gives a different character to the matter of the sole proprietor as Company. OPC is a mix of Sole proprietorship and Company where a solitary individual is the proprietor and all the while getting a charge out of the advantages of an organization. In the event of the demise of the individual, the proprietorship goes to the chosen one straightforwardly without influencing the never-ending progression highlight.
In this manner, OPC is a Private Limited Company which is run and oversaw by single individual and getting a charge out of the advantages of a Company by working for its. The advantages of framing an OPC are:
Manufactured Person: OPC is a simulated lawful individual made by law having its own particular personality.
Isolate Legal Entity: OPC can procure and moves resources in its own particular name and go into an authoritative association with some other individual.
Never-ending Succession: if there should arise an occurrence of the demise of the Sole part, the power vest with the candidate.
Restricted Liability: The obligation of part is constrained to the degree of offers subscribed. In this way the individuals are not by and by at risk.
Simple access to credit: OPC being a Company can without much of a stretch profit advances from banks and money related foundations when contrasted with sole proprietorship.
Basic leadership control: The ability to bring choice exclusively vests with the sole part. Along these lines, the business is overseen just at the watchfulness of the sole part.
Terms and Restrictions of OPC
A man should not be qualified to enlist more than a One Person Company or move toward becoming chosen one in more than one such organization.
An OPC can't be changed over into an organization under Section 8 of the Act. [Company not for Profit].
An OPC can't begin financing exercises incorporating interest in offers of any organization.
An OPC can't change over at its own carefulness into any sort of organization unless two years have terminated from the date of consolidation of One Person Company, aside from edge point of confinement of paid up share capital is expanded past Rs.50 Lakhs or its normal yearly turnover amid the pertinent period surpasses Rs.2 Crores i.e., if the Paid-up capital of the Company crosses Rs.50 Lakhs or the normal yearly turnover amid the important period surpasses Rs.2 Crores, at that point the OPC needs to constantly record shapes with the ROC for transformation in to a Private or Public Company, with in a time of Six Months on breaking the above edge limits.
