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PF & ESI Return Filing

incorporation of one person company, one person company documents required, incorporation of one person company

We help you pick the right company name.

Step 2

We help you pick the right company name.

Step 2

We draft and file the documents required for your company registration (MoA and AoA).

Step 3

What is One Person Company?

The new concept of ‘One Person Company(OPC)’ has been launched by the Companies Act,2013. It provides a new whole idea of the opportunity to those who are eager to start their own businesses with the structure of the organized business. It also defined in Sub-Section 62 of Section 2 of the Companies Act,2013 which defined as below :
“One person company means a company which has only one member”
Incorporation of One Person Company was published as a good rectification over the sole proprietorship. Only the residents of India who born here are eligible for the One Person Company Registration.

Why choose one person company incorporation in India?

An OPC is perfect for anyone who wants to run a business by himself or her own self, thinks to have effective control overall operations of the business, and works in a structured framework.
One person company is one in which best one individual is the member, according to segment 2(62) of the companies act,2013. the previous companies act, 1956, particularly supplied that at least two directors and shareholders are mandatory to form a non-public constrained enterprise.
An OPC can be registered with a minimum capital of just Rs 1 Lakh. Earlier, if the paid capital of One Person Company exceeds fifty lakh rupees or it’s average annual turnover during the relevant period exceeds 2 crore rupees, it will cease to be entitled to continue as a One Person Company. Now, the Government has removed the limit of paid-up share capital and turnover for the conversion of OPC which is mostly done by the startups.

Advantages of One Person Company

Good reputation and credibility in the market

In India, OPC is a Private Limited Company, which is the most popular and leading business structure in the business sector. Various Govt. Agencies, Corporate Customers, and vendors prefer to trust and deal with Private Limited Company rather than proprietorship firms.

Limited liability Protection to Directors Personal Assets

The various startups need to buy loans to establish their business and take things on credit. In the case of normal partnerships, the property and personal savings would be at risk because a business is not able to repay its loans. At the same time, in one person’s private limited company, the personal assets of the director are safe, only the investment gets lost.

Assist for Testing of Business Model and Enables Funding

The OPC business helps the startup entrepreneurs to test their business models, and building up a marketable product, to do this approach venture capitalists for funding and easily convert OPC into multi shareholder Private Limited company.

Disadvantages of One Person Company

Business activities

One person company can not be able to carry out Non-Banking Financial Investment activities including investment in securities of anybody corporates.

Taxation

Since the Income Tax Act, 1961, recognizes an OPC as a separate entity, the same tax rules which are applied to a private limited company apply to an OPC too. Moreover, as compared to a sole proprietorship, an OPC could lead to higher tax liability as the profit rise, since the flat rate benefits (in a sole proprietorship) fade off gradually.

Consistency cost

Compliance cost of partnership firm or proprietary is very less as compared to One Person Company.

OPC is Included in Name

You are required to mention a one-person company in your company name in the bracket. There is a slightly lower impression that the organization is kept running by one and only person.

Procedure for Incorporation of One Person Company

One Person Company Registration process includes various steps that need to be followed carefully. The steps are as below

Apply for DSC

It includes the Digital Signature Certificate (DSC) of the proposed director which needs different documents such as:

Apply for DSC

One Person Company Registration process includes various steps that need to be followed carefully. The steps are as below

Aadhar Card

Residential Address Proof

PAN Card

Photographs

Email Id

Phone Number

Apply For DIN

After the Digital Signature Certificate (DSC) is made, the next step is to apply for the Director Identification Number(DIN) of the proposed director.

Fill Up the Name Approval Application

The next step is to come up with the name of the company which should be in the form of “ABC(OPC)Private Limited”. The name is to be approved by the MCA and then we can move to the next step.

Mandatory Documents

The following documents are required to be submitted to the ROC:-
a. The Memorandum of Association (MoA) It is a legal document prepared in the formation of a limited liability company to mention the relationship with stakeholders and define the company’s purpose.
b. The Articles of the Association (AoA) It is a kind of document that define the regulation of company’s operations.
The MoA and AoA serve as the constitution of the company.
c. There is only 1 Director and a member, and a nominee on the behalf of such a person has to be appointed because in case he becomes disabled or dies and not be able to perform his duties the nominee will take his position and perform on the behalf of the director.

Filling Up the Forms with MCA

The documents should be attached to SPICe Form, SPIC e- MOA, and SPICe-AOA along with the DSC of the Director, and will be uploaded to the MCA site for approval.

Get the certificate of Incorporation

For verification, the Registrar of Companies (ROC) will issue a Certificate of Incorporation, and can begin your business.

One Person Company Documents Required

The Director of OPC have to submit the scanned transcripts/copies of the following files that are obligatory for the OPC Registration:-

PAN Card and Passport

Scanned transcript of Driving license / Voter’s ID or Driving License

Recent Electricity or gas invoice/Bank account statement/Mobile or Landline phone invoice

Passport-sized photograph

Why EnterpreneurCell Helps You?

EntrepreneurCell is one of the most famous and trustworthy company which provides progressive services to get One Person Company registration in very simple steps. We committed to providing the following strategies to every business owner are as follow:-

Easy and simple to Incorporation of One Person Company

Full and extensive support in filling up the documents requirement form.

All the documents required for registration will be filed in a proper manner.

Answers for all your questions and concerns

These are some of our commitments join hands with us to know more about our services and start your one person company in very little time and come in the market soon.

Leading Brands Rely On Our Expertise

Help Center

FAQ’s about One Person Company

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A. OPC company registration can be done only by Resident Person. The term “Resident Person” here means a person who has stayed in India for a period of not less than 182 days during the immediately preceding financial year. Criteria of 180 days have been reduced to 120 days to allow Non-Resident Indians to operate OPCs in India and enjoy the unlimited benefits of a One Person Company (OPC).

A. The capital to start your own OPC is around 1 Lakh, but no need to be paid-up. So, this means you actually don’t need any investment to begin your business.

  • A. Easy to Make Decisions In a Company With a Single owner
  • Limited Liability Protection
  • Better image and credibility in the marketplace
  • Easy to raise funds

A. There are no tax benefits are available as the tax rate is flat 30%,.

A. No not at all, you can show your rented home or own residential address as the registered office address of the company.

Why choose Entrepreneurcell?

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