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picture1_Corporate Powerpoint Templates 72923 | Csr Item Download 2022-08-31 22-34-03


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File: Corporate Powerpoint Templates 72923 | Csr Item Download 2022-08-31 22-34-03
corporate social responsibility csr legislation for the first time anywhere in the world csr for companies including cpses has been mandated through legislation in india section 135 of the companies ...

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                  Corporate Social Responsibility 
                                  (CSR) Legislation
         • For the first time, anywhere in the world, CSR for companies, including CPSEs 
           has been mandated through legislation in India
         • Section 135 of the Companies Act, 2013 contains CSR provisions 
         • Schedule VII of the Act enumerates activities that can be undertaken by CPSEs as 
           CSR
         • Section 135, amended Schedule VII of the Act, and the Companies (Corporate 
           Social Responsibility Policy) Rules, 2014 were notified by M/o Ministry of 
                                    th
           Corporate Affairs on 27  Feb 2014
         • All came into force from 01.04.2014. This is the first year of implementation of 
           CSR by CPSEs under the Act
         • 2014-15 was the first year of implementation of CSR by Companies under the Act
                                                                                             2
                            Highlights of Statutory 
                                             Provisions
         • Under Section 135 of the Act, companies, including CPSEs crossing thresholds, i.e.,
             • Net Worth of INR 500 crore or more; OR 
             • Turnover of INR 1000 crore or more; OR 
             • Net Profit of INR 5 crore or more, are required to discharge the obligations of CSR.
         • At least 2% of the average net profits of the company made during 3 immediately preceding 
           financial years are to be spent on CSR activities every year.
         • ‘Net profit’ for computation of CSR spends is to be computed as per Section 198 of the Act 
           and is ‘Profit Before Tax’ (PBT).
         • Such companies have to constitute a CSR committee of the Board, comprising of three 
           Directors or more with at least one Independent Director.
         • The CSR projects or programs or activities undertaken in India only shall amount to CSR 
                                                                                                        3
           Expenditure, though companies shall give preference to the local area and areas around its 
           operations.
                          Responsibilities of the CSR 
                    Committee & Company’s Board
              Responsibilities of the CSR Committee :
              • To formulate and recommend a CSR policy which shall indicate activities as specified 
                in Schedule VII of the Act.
              •  To recommend amount of expenditure to be incurred on CSR activities
              • To monitor the CSR policy of the company from time to time.
              Responsibilities of the Company’s Board :
              • Approve and disclose CSR Policy in the Annual  Report and on the company website 
              • Ensure implementation of CSR activities as per the Policy
              • Directors’ Report to specify reasons in case the specified amount is not spent 
                                                                                                        4
              Activities covered in Schedule VII of the Act
          •Eradicating hunger, poverty, malnutrition, promoting healthcare including contributions to 
           “Swach Bharat Kosh”
          •Promoting education and employment enhancing vocational skills; 
          • Promoting gender equality, empowering women;
          •Ensuring environmental sustainability including contribution to “Clean Ganga Fund”;
          •Protection of national heritage, art and culture;
          •Measures for the benefit of armed forces, war widows and their dependents;
          •Promotion of sports;
          •Contribution to the Prime Minister's National Relief Fund or any other fund set up by the 
           Central Government; 
          •Contribution to technology incubators;
          •Rural development projects;                                                             5
          •Slum-area development;
               Activities outside the Purview of 
                                                     CSR
              • The CSR projects or programs or activities that benefit only the employees of the 
                company and their families 
              • One-off events such as marathons/ awards/ charitable contribution/ 
                advertisement/sponsorships of TV programmes etc.
              •  Expenses incurred by companies for the fulfillment of any Act/ Statute of 
                regulations (such as Labour Laws, Land Acquisition Act etc.)
              • Contribution of any amount directly or indirectly to any political party 
              • Activities undertaken by the company in pursuance of its normal course of business.
              • Contributions flowing out of budgetary resources, profits or from the balance sheets 
                of CPSEs to PMNRF.
                                                                                                       6
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