Employees Provident Fund and Miscellaneous Provisions Act, 1952 | Introduction | Applicability and Non-Applicability of the Act | CA, CMA, CS, LLB Student

PUBLIC COMPANY [SEC.2(71)]

• Public company means a company which is not a private company and has a minimum paid up share capital as may be prescribed. [Sec.2(71)]
• A company which is a subsidiary of a company, not being a private company shall be deemed to be a public company for the purpose of the act even where such subsidiary company continues to be a private company in its articles.
• Seven or more members are required to form a Public Limited Company. [Sec.3(1)(a)]
• A public limited company should have at least 3 Directors.
• Public limited companies can offer shares and debentures to the general public through an invitation and deal on a stock exchange.

Types of Companies [more reading click the following links]

Private Limited Company

Public Limited Company