FAR
61.51 covers pilot logbooks and what must or may be logged according to the type of pilot flight time. Logging of PIC and SIC time is covered in the below excerpt.
(e) Logging pilot-in-command flight time. (1) A sport, recreational, private, or commercial pilot may log pilot-in-command time only for that flight time during which that person—
(i) Is the sole manipulator of the controls of an aircraft for which the pilot is rated or has privileges;
(ii) Is the sole occupant of the aircraft; or
(iii) Except for a recreational pilot, is acting as pilot in command of an aircraft on which more than one pilot is required under the type certification of the aircraft or the regulations under which the flight is conducted.
(2) An airline transport pilot may log as pilot-in-command time all of the flight time while acting as pilot-in-command of an operation requiring an airline transport pilot certificate.
(3) An authorized instructor may log as pilot-in-command time all flight time while acting as an authorized instructor.
Note that, as pointed out by
A squared, if you are rated in the category and class of aircraft, (no type required) you may log all time spent as sole manipulator of the controls as PIC time. The rules under which the flight is conducted is immaterial to the issue of logging PIC time.
ACTING as PIC is a different matter. To do that, you must be qualified as a PIC under the rules which the flight is conducted. If 135, several training, testing and qualification requirements will have to be satisfied. You may log PIC time in the Caravan if you are the holder of a pilot certificate with an ASEL rating and are sole manipulator.
Be aware that some airlines have minimum "dispatched as PIC" times required for employment qualification. While logging the sole manipulator PIC time is legal, this time may be disregarded by potential employers in considering your qualification for employment as a pilot with their company. It may be worthwhile to track "acting as PIC" and "sole manipulator" PIC times separately if planning to apply at airlines in the future to avoid the appearance of "augmenting" your PIC times. There's legal definitions and then there's the definitions that get you hired! Check with the companies you wish to work for to find out what kind of flying experience would best qualify you for employment there.
(f) Logging second-in-command flight time. A person may log second-in-command time only for that flight time during which that person:
(1) Is qualified in accordance with the second-in-command requirements of §61.55 of this part, and occupies a crewmember station in an aircraft that requires more than one pilot by the aircraft's type certificate; or
(2) Holds the appropriate category, class, and instrument rating (if an instrument rating is required for the flight) for the aircraft being flown, and more than one pilot is required under the type certification of the aircraft or the regulations under which the flight is being conducted.
If the aircraft being flown requires an SIC under either the aircraft type certificate or the rules under which it is being flown, then the SIC time is legitimate and may be logged under the rules. Whether or not a future employer considers this time to be credible experience which qualifies you for employment at their company is up to them. Once again, check with the employers you wish to work for.
Meanwhile, working for this company may help you to qualify for a PIC position in the Caravan in the future or it may give you a leg up in the search for another SIC position in a two pilot aircraft. Get as much multi time as you can and get as much PIC time as you can. Actual IFR experience is also important in landing that first job as a real required crewmember. Teaching will get you
ALL PIC time and maybe some actual and multi if you have those instructor ratings. Make sure you get that "acting as PIC" time!
Best of success,
