What Are the Compliance Required for OPC Private Limited Company

What Are the Compliance Required for OPC Private Limited Company


The concept of One Person Company (OPC) was introduced by the Companies Act, 2013. Earlier it was mandatory to have a minimum of two directors and shareholders for incorporation of a company. But now, with the introduction of OPC, a single person can incorporate a private company. This is a boon for start-ups as they can now register themselves as a company with only one director and sharer.

But the fact is that One Person Company has to comply with the laws and regulations as per the Companies Act of 2013 like any other private limited company. Failure to comply with these rules can lead to penalties and fines which can be a big blow for any business. Thus, it is very important for every OPC to make sure that they abide by all the terms and conditions of the Companies Act. This can be done by timely filing all the mandatory annual compliances.

These compliances include Auditor appointment, statutory audit, annual Registrars of Companies filings, DIN KYC of Directors and Income Tax filing. Also, it is advisable for the OPC to maintain its letterhead with the name and CIN printed clearly on it along with Email id, Contact no. and Website if any. Also, it is required to paint or affix the name of the company and its registered office address on a board outside each place where the company carries out business.


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