LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

kamal (TL)     07 March 2014

Companies act, 2013

Hi,

I'm a Software Engineer in a private limited company and want to start my own work.

Is it possible by working with a company I can register my own company ? I see people are working individually as well as giving services to other employers.

Since my client will be seated abroad, definitely our communication will be online and I'll get money against digital signed voucher.

How can I do this legally ?

What is Companies Act, 2013 where a company can be formed with just one individual ?

Please suggest.

Thanks.

 

 

 

 



Learning

 6 Replies

sahil kumar (cosultancy)     08 March 2014

IF WE TALK ABOUT COMPANIES ACT IT LAYS NO RESTRICTIONS  AS SUCH IF YOU ARE WORKING IN A COMPANY  YOU  CAN NOT MAKE YOUR OWN COMPANY.

YOU CAN MAKE YOUR OWN COMPANY. FOR FURTHER STEPS SEE THE ATTACHED FILE FOR YOUR HELP HOW U WILL BE ABLE TO INCORPORATE A COMPANY


Attached File : 309350035 steps to be taken to incorporate a new company.docx downloaded: 81 times

sahil kumar (cosultancy)     08 March 2014

FORMATION OF COMPANY REQUIRES MINIMUM TWO INDIVIDUALS AND MINIMUM CAPITAL OF RS 1 LAC BOTH INDIVIDUAL HAVE TO OBTAIN DIRECTOR IDENTIFICATION NO AND ANY ONE CANE HAVE DIGITAL SIGNATURE.

U MAY CONCERN SOME CA FOR WHAT TREATMENT TO BE DONE FOR INCOME RECEIVED FROM ABROAD.

sahil kumar (cosultancy)     08 March 2014

FORMATION OF COMPANY REQUIRES MINIMUM TWO INDIVIDUALS AND MINIMUM CAPITAL OF RS 1 LAC BOTH INDIVIDUAL HAVE TO OBTAIN DIRECTOR IDENTIFICATION NO AND ANY ONE CANE HAVE DIGITAL SIGNATURE.

U MAY CONCERN SOME CA FOR WHAT TREATMENT TO BE DONE FOR INCOME RECEIVED FROM ABROAD.

kamal (TL)     08 March 2014

Hello Sir, Thanks for reply..

But I don't understand answer properly that I can own my company or not by working in another company.

Regarding minimum requirement of two individuals, I gone thru the article below which is explaining about OPC (One Person Company).

https://www.thehindubusinessline.com/economy/an-individual-can-register-only-5-oneperson-companies/article5206680.ece

What is it about ? Please provide me detailed info so I can know about procedure properly.

Thanks.

 

 

 

 

 

 

T. Kalaiselvan, Advocate (Advocate)     09 March 2014

Do you want a clarification about OPC (One person company) which was facilitated through Company's act 2013 or what else?,  if your query is whether you while working with one company can establish your own company and is it legal?,  If you are a government employee, you are not eligible to have a company on your own name, in the private sector, it depends on the terms and conditions of employment given in the offer letter of that company.  The latest company act, 2013 about OPC is about its own provision and your question will not find an answer in the said provisions.

sahil kumar (cosultancy)     09 March 2014

Dear Kamal   as on date one person company falls in section 2(62) of Companies Act 2013 which is not applicable, list of sections applicable as on date is attached for your reference .

If Your employment agreement  prohibits you  for starting a new Company then only you are not eligible otherwise as i have told you earlier you have to comply with the minimum requirement for starting a private Company which is attached in my above answer. Dont get confused with one person Company concept as it is not applicable as on date.

list of sections applicable as on date is attached for your reference.

Only query which I am not able to solve is the treatment  income which will be earned by  you through your Foreign clients. 


Attached File : 523272308 commencementnotificationofca2013.pdf downloaded: 101 times

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query