Corporate Social Responsibility---- Is it a just a responsibility ????

Corporate Social Responsibility---- Is it just a responsibility ???

Corporate Social Responsibility (CSR) can be traced the way back. In India, before independence, the activity of social responsibility is done in various mediums for this they have made many charitable trusts for the community development to the overall impact of prevailing societal elements such as religion, tradition, culture, moral standards, etc. and its influence on the general public. These were the major contributing factors to develop CSR in India.

APPLICABILITY:

under section 135 the company whose turnover is more than rupees five hundred crores or more, or turnover of rupees one thousand crores or more, or a net profit of rupees five crores or more, during immediately preceding financial year. 

If either of the above conditions is satisfied by any company, then, to carry out all the CSR functions smoothly

AMOUNT DETERMINATION:

The company as to spend 2% of Amt from there net profit proceeding three financial year

for the CSR activity.

FUNCTIONS:

FUNCTIONS OF CSR COMMITTEE :

Formulate and Recommend CSR Policies

Recommend the amount of expense required for CSR Activities

Monitor the CSR policies from time to

FUNCTIONS OF BOARD

Consider and Approve or Reformulate the recommended policies

Disclose the CSR policy contents in Board Report and on the official website of the Company as well

Ensure that CSR activities are timely and adequately undertaken by the company