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CORPORATE SOCIAL RESPONSIBILITY

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nithyam40

CORPORATE SOCIAL RESPONSIBILITY Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. Activities undertaken by the companies under the umbrella of CSR.

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CORPORATE SOCIAL
RESPONSIBILITY (CSR)
UGC NTA NET
SET
TRB
Commerce
SSC
UPSC
TNPSC
BANK EXAMS
For
Competitive
Exam
Prof. M Nithyalakshmi
DRBCCC HINDU COLLEGE
For
Commerce
&
Management
What is CSR?
• Corporate social responsibility (CSR) is a
self-regulating business model that helps
a company be socially accountable—to
itself, its stakeholders, and the public.
• By practicing corporate social
responsibility, also called Corporate
citizenship, companies can be conscious
of the kind of impact they are having on
all aspects of society, including economic,
social, and environmental.
Activities undertaken by the companies under
the umbrella of CSR.
• To promote education in society.
• To organize programs to enhance the career
skills among people.
• To promote health care and sanitation.
• To organize seminars and programs in order
to educate people about the environment
and sustainable development.
• Setting up of orphanages, old age homes and
day-care centres.
• Promote training for sports
• To contribute during the times of natural
calamities like earthquakes, droughts and
floods.
• To promote programmes and schemes for
poverty alleviation, eradication of hunger,
providing safe drinking water, health care
measures, rural development programs.
• To promote infrastructure development for
building schools, hospitals, sports training
complexes, etc.
Is CSR Mandatory?
As per section 135 of the Companies Act, 2013,
every Company, including its holding or
subsidiary whose :
• "Net worth is RS 500 Crores or more" OR
• "Is having a turnover of Rs 1000 crores or
more" OR
• "Whose Net Profit is Rs 5 crores or more",
during the immediately preceding financial
year, have to contribute towards CSR activities
mandatorily.
As per the CSR Rules & CSR provisions the need
to form a CSR Committee
• Shall set up 3 or more Directors, out of which
at least one of the Directors shall be an
Independent Director.
• In case of a foreign company at least two
persons should be there in the committee of
which one person shall be an authorized
person, resident in India and the second one
should be nominated by the Company itself.
• In the case of Private Company having only
two directors, the committee shall also be
constituted having 2 Directors.

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CORPORATE SOCIAL RESPONSIBILITY

  • 1. CORPORATE SOCIAL RESPONSIBILITY (CSR) UGC NTA NET SET TRB Commerce SSC UPSC TNPSC BANK EXAMS For Competitive Exam Prof. M Nithyalakshmi DRBCCC HINDU COLLEGE For Commerce & Management
  • 2. What is CSR? • Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. • By practicing corporate social responsibility, also called Corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.
  • 3. Activities undertaken by the companies under the umbrella of CSR. • To promote education in society. • To organize programs to enhance the career skills among people. • To promote health care and sanitation. • To organize seminars and programs in order to educate people about the environment and sustainable development. • Setting up of orphanages, old age homes and day-care centres.
  • 4. • Promote training for sports • To contribute during the times of natural calamities like earthquakes, droughts and floods. • To promote programmes and schemes for poverty alleviation, eradication of hunger, providing safe drinking water, health care measures, rural development programs. • To promote infrastructure development for building schools, hospitals, sports training complexes, etc.
  • 5. Is CSR Mandatory? As per section 135 of the Companies Act, 2013, every Company, including its holding or subsidiary whose : • "Net worth is RS 500 Crores or more" OR • "Is having a turnover of Rs 1000 crores or more" OR • "Whose Net Profit is Rs 5 crores or more", during the immediately preceding financial year, have to contribute towards CSR activities mandatorily.
  • 6. As per the CSR Rules & CSR provisions the need to form a CSR Committee • Shall set up 3 or more Directors, out of which at least one of the Directors shall be an Independent Director. • In case of a foreign company at least two persons should be there in the committee of which one person shall be an authorized person, resident in India and the second one should be nominated by the Company itself. • In the case of Private Company having only two directors, the committee shall also be constituted having 2 Directors.
  • 7. Roles Played By the CSR Committee: • To plan and approve CSR strategies. • To allocate the budget for CSR activities. • To access the performance of the CSR policy of the Company. • Monitor the implementation of CSR projects in a more transparent manner and a better way.
  • 8. • To ensure that at least 2% of the average profits of the Company, made during the three immediately preceding financial years are spent in CSR Activities • The CSR Rules also states that the Board of Directors of the Company shall disclose the contents of the CSR policy in its report, and should be shown on the website of the Company.