In this paper, the reduction of Multiple Access Interference (MAI) in Multi Carrier-Code Division Multiple Access (MC-CDMA) uplink system is analyzed. Simultaneous access over channels by numerous users results in MAI which leads to high Bit Error Rate (BER). Therefore the data received at the receiver is intended to numerous users. As a result, it is necessary to separate the data corresponding to different users efficiently. So in this paper, the Vertical-BELL Laboratories Layered Space-Time (V-BLAST) algorithm with Parallel Interference Cancellation (PIC) technique based MC-CDMA system is proposed. Due to the combination of V-BLAST and PIC in MC-CDMA system the MAI is reduced to a certain extent, which is shown in simulation result. Further the system performance is analyzed using Binary Orthogonal Codes (BOC) as spreading sequence. The result shows that Binary Orthogonal Coded V-BLAST and PIC based System provide better performance than conventional spreading sequence like Walsh Hadamard and Pseudorandom Noise (PN) sequence.