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Difference Between OPC vs Pvt Ltd

Aspects Private Ltd Company One-person Company(OPC)
Governed by Companies Act 2013 Companies Act 2013
Minimum No of Members Min.2 members (Can be body corporate also) 1 member who is resident of India, and 1 nominee should be present.
Minimum No of Directors Min.2 Directors out of which 1 Director has to be present in India. 1 Director who has to be a resident of India.
Name shall include Name of the Private Company to end with “Private Limited”. “One-person Company” shall be mentioned in brackets below the name of such company.
Minimum Capital No minimum requirement No minimum requirement
Taxation Taxed at 30% + Surcharge + Cess. Taxed at 30% + Surcharge + Cess.
Annual filings Annual accounts and annual returns to be filed with ROC. Financial Statements and Annual return to be filed with ROC.
Statutory Audit Compulsory Compulsory
Time taken for Registration 5-7 days 7-10 days
Conversion Can be converted into LLP. Can be converted only after the expiry of 2 years from the date of incorporation.
Minimum Number of Meeting (Including Board & AGM)
  • Atleast 4 Board Meetings, 1 in each quarter & the gap between 2 meetings should not be more than 120 days.
  • AGM to be held within 6 months from closure of Accounts (usually in the month of September of every year)
  • Atleast 1 Board Meetings, 1 in each half year & the gap between 2 meetings should not be less than 90 days.
  • No requirement of AGM.
Suitability More suitable for businesses, trade, manufactures, large industrial establishments etc. Suitable for Individuals whose Capital requirements are less than 50 lakhs or Turnover is less than 2 Cr.
Procedure for Incorporation
  • Obtain Director Identification Number(DIN).
  • Obtain Digital Signature Certificate(DSC)
  • Name Approval
  • Filing of Various Documents & forms required for Incorporation
  • Obtain Director Identification Number(DIN).
  • Obtain Digital Signature Certificate(DSC)
  • Name Approval
  • Filing of Various Documents & forms required for Incorporation
  • Filing Nominee Details
Liability Limited Liability Limited Liability

Conclusion:

  • One-person Company is a new concept that has been introduced in India. Still there are lot of Changes having to be undergone and lot more review for the improvement of OPC Company is required.
  • In an LLP, one partner is not responsible or liable for another partner’s misconduct or negligence. This is an important difference from the traditional unlimited partnership under the partnership Act, in which each partner has joint and several
  • Private Limited Company the business owners hold all shares of the company privately. Shareholders may operate the business themselves, or hire directors to manage the Company on their
  • Forming a private limited Company results in protection of personal assets, access to more resources, financial assistance and greater