Main objective of this article is to discuss basic components of Virtual Team. Virtual team is a small group of individuals who work around time, space and organizational limits with links strengthened by simply webs of communication technological. There are three main aspects to virtual team – function, people and links. Virtual team effectively manage the realities of time period compression, distributed resources, improving dependency on knowledge-based enter, a premium on flexibility and adaptability, and the point that most of the information they use in electronic form.