One Person Company compliance in India

A Company which is organized by a single person as per the companies Act of 2013 managing limited liabilities. People whose are in medium level of financial status are interested to start such lone entrepreneurship in any industry. That means the annual sales turnover of such companies will be less than 200 Lakhs. Limitation for OPC (One Person Company) is limited compared to the Private Limited concerns in India.

Here in this article we shall discuss about the basic compliance requirements about One Peron Company

After OPC Company registration

Once you are registered with your OPC Company, then the time to use the following stationary is advisable by our expert suggestion. We Corproots have our expert specialized in OPC company registration in Bangalore as well as in other locations in safest view.

Name board requirements

Business organization are supposed to mention the company name and address of the registered office in every place and locations for the safest perspective.

Rubber stamp

Company stamp is must for OPC Company including the name of the company and name of the authorized person. It is used for the execution of various legal documents.

Letter head

For your company a letter is must to be used including the company name and address printed for the use of various purposes. Invoices, letters etc. is performed using the letter in the name of company. Another important thing is the company name should be printed in the letter head with adjacent “One Person Company”.

PAN Application for OPC

PAN Card issue is the basic step for the OPC registration in online as a part of company incorporation certificate. Once the PAN Card is requested an allotment letter is received by the company which is signed by the OPC Director name mentioned in rubber stamp which is sent to the NSDL Office. Around 15 days of time is taken for obtaining the PAN Card for the applicant.

Bank Account

OPC registration requires less procedures for the bank account opening, following documents are required for the process:

• Company incorporated certificate with self-attestation
• MOA and AOA of OPC
• Company resolution
• Company PAN Allotment letter copy
• Director’s identity proof
• Telephone bill of directors

Appointment of auditors

Incorporation process include the auditing process with the help of Chartered Accountant within 30 days

Annual meeting

Companies are required to conduct general annual meeting in each financial year without elapsing 15 month gap. Director board of the company who are signing the meeting occasion is evaluated.

Financial Statements

Financial statement requirements are provided as follows:

• Balance sheet
• Profit and Loss
• Cash flow statement
• Document explanatory document