The copilot, irrespective of his/her P1 license or Type Rating on the airplane, or even if he/she is a captain/commander performing the duties of a copilot, . . . neither carries the responsibilities of PIC, nor the designation of PIC, [Commander].
In airline operations the airline designates the PIC for every flight when two "captains" are aboard. Therefore, being the "pilot at controls" on a particular sector does not in itself qualify as "PIC" time.
A type rated copilot cannot claim PIC time. How would this work? A copilot claims to have flown 5000hrs PIC time with a major carrier, but was never a captain nor paid as captain....? Think about it.