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Corporate Social Responsibility (CSR) policy

B.V.S.Prakash B.Com , L.L.B.; FCA. CEO, Nhance CSR HYDERABAD 4 th July, 2014. Corporate Social Responsibility (CSR) policy. In India GIVING has been a part of our culture.

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Corporate Social Responsibility (CSR) policy

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  1. B.V.S.Prakash B.Com, L.L.B.; FCA. CEO, Nhance CSR HYDERABAD 4th July, 2014. Corporate Social Responsibility (CSR) policy

  2. In India GIVING has been a part of our culture

  3. Corporate Philanthropy also called CSR was a voluntary gesture on part of companies and their management. It is for the first time Indian Companies have been driven into CSR through a legislation. INDIA LEADS THE WORLD ONCE AGAIN

  4. CSR – Our Understanding Demonstration of - a commitment to society’s values, - contribution to society’s social goals - environmental goals and - economic goals -- through action

  5. The Law: SECTION 135

  6. Ringing in the new Against this backdrop, on 27 February, 2014, the Ministry of Corporate Affairs has notified the Companies (Corporate Social Responsibility Policy) Rules, 2014, which came into force on 1st day of April 2014. A Host of New Definitions • Private company, • One person company, • Small company, • GDR, • IDR, accounting standards, • Auditing standards etc. • This has the potential to be a model of improved corporate governance and enhancing the interests of not only stakeholders but community at large.

  7. Who is applicable?

  8. How to implement

  9. Dos & Don’ts • Has to be in India • Not to political parties • Not for the exclusive benefit of Employees & their families • Not to be Business as usual

  10. Readying for CSR • Companies are permitted to spend on building capabilities or training of its personnel or their implementation agencies ( with 3 year track record ) • Such expenditure not to exceed 5% of the CSR spend.

  11. Approved activities for CSR • The following activities are approved U/S 135 of the Companies Act 2013 for CSR spend • Eradicating hunger, poverty, malnutrition and promoting preventive healthcare and sanitation and making available safe drinking water • Promoting education, including special education and employment enhancing vocational skills especially among children, women, elderly, and the differently-abled and livelihood enhancement projects

  12. Approved activities for CSR • Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers, and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups. There has been a clarification from the ministry that the company can take up any activity so long as it is approved by the board

  13. Approved activities for CSR • Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water • Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up libraries; promotion and development of traditional arts and handicrafts

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