Difference Between One Person Company and Private Limited Company
One Person Company (sometimes known as an OPC) is a type of entity owned by a single individual. It enables a single individual to own and manage the entire organisation. The OPC as a business structure was recently introduced in India by the Companies Act 2013 to govern and promote proprietorship enterprises in an organised manner. This is the structure that offers the advantages of corporate structure to people who do not want a partition in firm ownership. As a result of the ownership and control features, it is compared to a sole proprietorship firm. Yet, because of its registration process, corporate structure, and attributes, it is frequently likened to private companies. The OPC is a sort of Private Limited Corporation as well, but with minimal distinction. The Indian Companies Act 2013 governs OPC registration and activities in the same way as it governs Private Limited Companies. Because their basic characteristics are similar, this blog provides a clea...