What is Company? Types of Company, How to Make a Private Limited Company?
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Company means a union of many individuals created to achieve a common goal. In other words, the company refers to a group of people who contribute to a joint fund, or any other asset equal to currency or currency, which is used to fulfill a common purpose.

What is Company?

The word Company comes from the Latin word Companies, which means Com together with and Panies means bread, under the Companies Act 2013, Comapny means legal and natural or a combination of both, a group of individuals who are commercial and industrial. The enterprise is designed to run and the organization of many individuals is created to achieve many common business objectives.

The company works as a statutorily created artificial person, due to which its existence is also different. That is why we can say that if a person comes or goes away from the company, the company works like before, there is no effect on its existence. Today we are going to tell you in this article what are the types of company.

Types of Company

According to the activities and needs of the commercial world, the types of different companies have been mentioned in India under the Comapnies Act 2013. They are mainly as follows:

1- Proprietorship

In this type of business, only one man is the owner of the entire industry. He uses the same capital to run the business. It is also responsible for buying laborers and machines etc. In this type of business, only one person makes all business related decisions. Therefore, he is also a participant of advantages and disadvantages.

2- Partnership

In partner ship business, two or more people are running a company or business. Therefore, according to the Indian Partnership Act 1932, a partnership deed is signed in writing by all the partners to decide who will be the role in the organization. And according to the terms and conditions written in this partnership deed, the business is run by the partners. Hence, it is also clear that all the partners of profit and loss in the company are partners.

3- Private Limited Company

A private limited company can have at least 2 and not more than 15 directors. And if we talk about share holders, there can be at least 2 and not more than 200 share holders.

Organizations of this type are contracted by the Register of Companies under the Companies Act 1956. A memorandum and articles of association of the company are made in the Private Limited Company. In which the terms and conditions are described against all the work areas of the organization. And based on this, the company is operated.

4 – Public Limited Company

Public limited company must have at least 7 share holders and at least 3 directors. The PLC is also registered under the Registrar of Companies as per Companies Act 1956.

Such companies have to get a Trading Certificate before starting a business. Management requires the approval of the government to make any appointment and to hold statutory meetings. Apart from this, public limited company can advertise in the market to sell its shares. While a private limited company cannot do this.

How to Make a Private Limited Company?

Friends, if you are opening a private limited company, then in this case you will need formal registration ie you have to register your company with the Ministry of Corporate Affairs (MCA). And after registering your company, you also have to get GSTIN number.
LLP (Limited Liability Partnership Act 2008):

: Friends, if you are opening a LLP ie Limited Liability Partnership Company, you will also have to formally register this company in the Ministry of Corporate Affairs MCA.
OPC (One Person Company In Hindi) One Person Company Registration Process In Hindi:

OPC is an individual company but its registration is done formally. So if you are opening an OPC company, then you will have to register it with the Ministry of Corporate Affairs. At the same time, you have to give all the information related to the number of members working with you, their liability, legal status.

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