1) The document outlines the key provisions around corporate social responsibility (CSR) as mandated by Section 135 of the Indian Companies Act of 2013. It requires companies meeting certain criteria to spend 2% of their net profits on CSR activities specified in Schedule VII of the Act.
2) The Act requires companies to form a CSR committee and approve a CSR policy. The board is responsible for ensuring CSR activities are undertaken as outlined in the policy and spend targets are met. Qualifying CSR activities are in areas such as poverty reduction, education, healthcare, environment and more.
3) Details are provided around formulating a CSR policy, modes of implementation, eligible vs. non-eligible activities, reporting requirements and penalties for non
This brief ppt is based on the provisions of sec 135 of Indian companies act 2013 as applicable towards CSR Corporate Social Responsibility on Companies in India.
Lasting success requires credible business practices and the prevention of such activities as fraudulent accounting and labour exploitation.
Recognition of the need for more ethically responsible business practices has seen the emergence of a strong global movement to embrace and promote the concept of social responsibility.
ISO 26000 : 2010 standard offers a definition of what it means to be a socially responsible organization and why it is important that companies adopt this position.
This brief ppt is based on the provisions of sec 135 of Indian companies act 2013 as applicable towards CSR Corporate Social Responsibility on Companies in India.
Lasting success requires credible business practices and the prevention of such activities as fraudulent accounting and labour exploitation.
Recognition of the need for more ethically responsible business practices has seen the emergence of a strong global movement to embrace and promote the concept of social responsibility.
ISO 26000 : 2010 standard offers a definition of what it means to be a socially responsible organization and why it is important that companies adopt this position.
India became the first country to mandate spend on CSR activities through a statutory provision after the President of India gave assent to the Companies Bill, 2013,.
The Provision of Corporate Social Responsibility (CSR) are effective from financial year 2014-15.
As per Section 135 of the Act, every company with a specified net worth or turnover or net profit are required to mandatorily spend 2 percent of its average net profit towards specified CSR activities.
Though many corporate houses in India have been doing CSR activities voluntarily, the new CSR provisions put formal and greater responsibility on companies to set out clear framework and process to ensure strict compliance.
The Board of Directors of the companies are responsible to ensure that the company spends the mandatory CSR spend on specified CSR activities in accordance with the CSR policy of the company and disclose the CSR policy and CSR activities of the company as specified in the provisions.
Each qualifying company should form a CSR committee which will formulate the CSR policy of the company and effectively monitor the CSR activities of the company.
The Ministry of Corporate Affairs (MCA) has issued draft rules on CSR for public discussion. The said draft CSR rules lay down the framework and guidance on the manner in which every eligible company is expected to undertake CSR initiatives.
Why building sustainable businesses are important for the 21st Century Corporation. The rationale for India's 2% CSR law, and why it makes sense.
A journey from global imperatives to national law, and the road ahead for creating sustainable businesses which include all stakeholders in creating value across people, plant and profits.
Corporate Social Responsibility - FiinovationFiinovation
Fiinovation understands evolution of industries leads to organized economies. Gradually, the focus of the corporations shifted from a demand-supply relationship to marketing themselves among the target audience in order to sustain them among increased competition. Fiinovation believes the consumers in advancing economies entrust a brand which contributes towards improvement of their society.
Why and How of working on CSR in India
Evolution of CSR legislation in India
Benefits of doing CSR - Design | Innovation | Sales
Implementation | Challenges
Reporting | Monitoring of CSR Strategy
Assessment of CSR Law in Companies Act, 2013 – An Analysis of the Performance...inventionjournals
Introduction: The new law making CSR expenditure and reporting mandatory for certain companies is a new chapter in the Indian corporate world and has provided a necessary boost to the status of companies’ responsibility towards the stakeholders, and transparency and accountability of their actions. Need: The mandatory 2% spending of profits on CSR activities got mixed reaction from corporate executives. To ensure that the enforcement of the law isn’t limited to the term “cheque-book CSR”, regular exploration of the companies’ CSR expenditures and their consequent outcomes is absolutely essential. Objective: The paper aims to assess the outcome of Section 135 of the Companies Act, 2013, in the first year of its implementation among the BSE-SENSEX companies. Research methodology: Secondary sources were utilized for collecting profits and CSR expenditure figures of the selected 30 companies for conducting an ex-post analysis for the year 2014-15. Key findings of the study: Less than 15% of the BSE-SENSEX companies had spent on CSR activities an amount that is equal to or greater than the stipulated 2% of the average profits of the preceding 3 years as per Section 135 of Companies Act, 2013. Implications: Immediate attention of regulatory bodies is desired towards companies failing to dispense the funds earmarked for CSR as stipulated by the law to ensure compliance.
Corporate social responsibility | 2015 - Recent TrendsAadhit B
This paper predominantly enumerates the role of Corporate Social responsibilities in the present scenario, its evolution, impact of Clause 135 of Companies Act, 2013, Role of CSRs in SMEs and also its Global Impact.
|Clause 135, Companies Act, 2013 | Companies (CSR policies) Rules, 2014 |
The Companies Bill 2012 was passed in the Lok Sabha on 18 December 2012. The bill seeks to consolidate and improve corporate governance and further strengthen the regulations for the corporates. One of the noticeable features of the bill is introduction of the most debated concept of Corporate Social Responsibility (CSR). The attached presentation by Ms Gayatri Subramanian, Program Coordinator - CSR & Corporate Governance, Indian Institute of Corporate Affairs, New Delhi, presents a clear picture on the new CSR Bill.
What is CSR, History and Phases of CSR, Constituents of CSR, CSR Development in India, CSR Law - Sec 135, Why CSR, Benefits of CSR, CSR Life Cycle, CSR Process, CSR Initiative.
Article on Corporate Social Responsibility - an insightFCS BHAVIK GALA
India is the first country in the world to have a regulatory framework for CSR by law. The Companies Act, 2013 has introduced the idea of CSR to the forefront and through its disclose-or-explain mandate, is promoting greater transparency and disclosure. Schedule VII of the Act, which lists out the CSR activities, suggests communities to be the focal point. On the other hand, by discussing a company’s relationship to its stakeholders and integrating CSR into its core operations, the rules suggest that CSR needs to go beyond communities and beyond the concept of philanthropy.This Article provides insight to the regulatory aspects of CSR in India
Business Responsibility and Sustainability .pdfaakash malhotra
Read Deloitte India’s Business Responsibility and Sustainability Report and what it means for the top 1,000 listed entities in India. The Securities and Exchange Board of India (SEBI) introduced new requirements for sustainability reporting by listed companies. It aims to establish links between the financial results of a business with its ESG performance.
India became the first country to mandate spend on CSR activities through a statutory provision after the President of India gave assent to the Companies Bill, 2013,.
The Provision of Corporate Social Responsibility (CSR) are effective from financial year 2014-15.
As per Section 135 of the Act, every company with a specified net worth or turnover or net profit are required to mandatorily spend 2 percent of its average net profit towards specified CSR activities.
Though many corporate houses in India have been doing CSR activities voluntarily, the new CSR provisions put formal and greater responsibility on companies to set out clear framework and process to ensure strict compliance.
The Board of Directors of the companies are responsible to ensure that the company spends the mandatory CSR spend on specified CSR activities in accordance with the CSR policy of the company and disclose the CSR policy and CSR activities of the company as specified in the provisions.
Each qualifying company should form a CSR committee which will formulate the CSR policy of the company and effectively monitor the CSR activities of the company.
The Ministry of Corporate Affairs (MCA) has issued draft rules on CSR for public discussion. The said draft CSR rules lay down the framework and guidance on the manner in which every eligible company is expected to undertake CSR initiatives.
Why building sustainable businesses are important for the 21st Century Corporation. The rationale for India's 2% CSR law, and why it makes sense.
A journey from global imperatives to national law, and the road ahead for creating sustainable businesses which include all stakeholders in creating value across people, plant and profits.
Corporate Social Responsibility - FiinovationFiinovation
Fiinovation understands evolution of industries leads to organized economies. Gradually, the focus of the corporations shifted from a demand-supply relationship to marketing themselves among the target audience in order to sustain them among increased competition. Fiinovation believes the consumers in advancing economies entrust a brand which contributes towards improvement of their society.
Why and How of working on CSR in India
Evolution of CSR legislation in India
Benefits of doing CSR - Design | Innovation | Sales
Implementation | Challenges
Reporting | Monitoring of CSR Strategy
Assessment of CSR Law in Companies Act, 2013 – An Analysis of the Performance...inventionjournals
Introduction: The new law making CSR expenditure and reporting mandatory for certain companies is a new chapter in the Indian corporate world and has provided a necessary boost to the status of companies’ responsibility towards the stakeholders, and transparency and accountability of their actions. Need: The mandatory 2% spending of profits on CSR activities got mixed reaction from corporate executives. To ensure that the enforcement of the law isn’t limited to the term “cheque-book CSR”, regular exploration of the companies’ CSR expenditures and their consequent outcomes is absolutely essential. Objective: The paper aims to assess the outcome of Section 135 of the Companies Act, 2013, in the first year of its implementation among the BSE-SENSEX companies. Research methodology: Secondary sources were utilized for collecting profits and CSR expenditure figures of the selected 30 companies for conducting an ex-post analysis for the year 2014-15. Key findings of the study: Less than 15% of the BSE-SENSEX companies had spent on CSR activities an amount that is equal to or greater than the stipulated 2% of the average profits of the preceding 3 years as per Section 135 of Companies Act, 2013. Implications: Immediate attention of regulatory bodies is desired towards companies failing to dispense the funds earmarked for CSR as stipulated by the law to ensure compliance.
Corporate social responsibility | 2015 - Recent TrendsAadhit B
This paper predominantly enumerates the role of Corporate Social responsibilities in the present scenario, its evolution, impact of Clause 135 of Companies Act, 2013, Role of CSRs in SMEs and also its Global Impact.
|Clause 135, Companies Act, 2013 | Companies (CSR policies) Rules, 2014 |
The Companies Bill 2012 was passed in the Lok Sabha on 18 December 2012. The bill seeks to consolidate and improve corporate governance and further strengthen the regulations for the corporates. One of the noticeable features of the bill is introduction of the most debated concept of Corporate Social Responsibility (CSR). The attached presentation by Ms Gayatri Subramanian, Program Coordinator - CSR & Corporate Governance, Indian Institute of Corporate Affairs, New Delhi, presents a clear picture on the new CSR Bill.
What is CSR, History and Phases of CSR, Constituents of CSR, CSR Development in India, CSR Law - Sec 135, Why CSR, Benefits of CSR, CSR Life Cycle, CSR Process, CSR Initiative.
Article on Corporate Social Responsibility - an insightFCS BHAVIK GALA
India is the first country in the world to have a regulatory framework for CSR by law. The Companies Act, 2013 has introduced the idea of CSR to the forefront and through its disclose-or-explain mandate, is promoting greater transparency and disclosure. Schedule VII of the Act, which lists out the CSR activities, suggests communities to be the focal point. On the other hand, by discussing a company’s relationship to its stakeholders and integrating CSR into its core operations, the rules suggest that CSR needs to go beyond communities and beyond the concept of philanthropy.This Article provides insight to the regulatory aspects of CSR in India
Business Responsibility and Sustainability .pdfaakash malhotra
Read Deloitte India’s Business Responsibility and Sustainability Report and what it means for the top 1,000 listed entities in India. The Securities and Exchange Board of India (SEBI) introduced new requirements for sustainability reporting by listed companies. It aims to establish links between the financial results of a business with its ESG performance.
Business Valuation Principles for EntrepreneursBen Wann
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
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Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
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Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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2. Historic and Social Economic Context
Religious background
Charity and Philanthropy
Principle of Trusteeship
Social Responsibility -The Western Thought
Environmental Concerns
CSR and Beyond
Business Responsibility-A Holistic Approach
3. Government and Business Responsibility
2007
•PM’s Ten-Point Social Charter2009
•Voluntary Guidelines on CSR
2011
•National Voluntary Guidelines on Social, Environmental and Economic Responsibilities (NVGs) 2012
•SEBI mandate on disclosure in the form of Business Responsibility Reports (BRRs) on NVGs for top 100 listed companies
2013
•Section 135 of Companies’ Act, mandating CSR spend of 2% profit
3
Ministry of Corporate Affairs & CSR
4. MILESTONES IN CSR2
1 Apr 2010 18 Dec 201208 Aug 201330 Aug2013
27 Feb
2014
•CompaniesBill 2013 approved by LokSabha
•DPE Guidelineson CSR
•CompaniesBill 2013 approved by RajyaSabha
•GazetteNotificationof the New Companies Act 2013
•Rules on section 135 Notified on MCA’S website
4
5. CSR PROVISIONS OF THE COMPANIES ACT
SECTION135
1)Everycompanyhavinganetworthofrupeesfivehundredcroreormore(100million$ormore),oraturnoverofrupeesonethousandcroreormore(200million$ormore),oranetprofitofrupeesfivecroreormore(1million$ormore)duringanyfinancialyearshallconstituteaCorporateSocialResponsibilityCommitteeoftheBoardconsistingofthreeormoredirectors,outofwhichatleastonedirectorshallbeanindependentdirector;
2)TheBoard'sreportshalldisclosethecompositionoftheCorporateSocialResponsibilityCommittee.
5
10. CSR CommitteeThree or more directors with at least one independent
ROLEOF THE CSR COMMITTEE810Formulate and recommend a CSR policy to the boardRecommend activities and the amount of expenditure to be incurredMonitor the CSR policy
11. Role of the Board
Formulate a CSR CommitteeApprove the CSR Policy, disclose its contents in the Board Report and place it on the company's websiteEnsure Implementation of CSR activities
Ensure 2% spendDisclose reasons for not spending under clause (o) of sub -section (3) of Section 134911
12. Sub Section (8) of Section 134
Ifacompanycontravenestheprovisionsofthissectionclause(oofsub-section(3)ofSection134),thecompanyshallbepunishablewithfinewhichshallnotbelessthanfiftythousandrupeesbutwhichmayextendtotwenty-fivelakhrupeesandeveryofficerofthecompanywhoisindefaultshallbepunishablewithimprisonmentforatermwhichmayextendtothreeyearsorwithfinewhichshallnotbelessthanfiftythousandrupeesbutwhichmayextendtofivelakhrupees,orwithboth.
PENAL PROVISIONS for COMPANIES
10
12
13. Schedule VII –CSR THEMATIC AREAS
1. Eradicating hunger, poverty and malnutrition, promoting health care, sanitation & safe drinking water including contribution to SwachaBharat kosh2. Promotion of education, special education and vocational skills3. Gender Equality, Women empowerment , senior citizens and economically backward groups4. Protection of National Heritage, art and culture
5. Benefits to armed forces veterans, war widows
11
14. Schedule VII –CSR THEMATIC AREAS… 6. Ensuring environmental sustainability, ecological balance, wildlife & natural resources conservation including clean Ganga movement7. Technology incubators within academic institutions8. Rural sports, Paralympic and Olympic sports
9. PM National Relief Fund and any other funds setup by the Central Govt. for socio economic development & welfare of SC/ST/OBC
14
17-11-2014
16. Schedule VII –CSR THEMATIC AREAS…
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 citizensand measures for reducing inequalities faced by socially and economically backward groups
16
17. AMOUNT TO BE SPENT ON CSR
EverycompanywhichisfallingundertheCSRbracket,shouldspend,ineveryfinancialyear,atleasttwopercentoftheaveragenetprofits(section198)ofthecompanymadeduringthethreeprecedingfinancialyears.
Netprofitshouldnotinclude:-
Dividendreceivedfromothercompanies
Incomereceivedfromoverseas/foreignbranchesorsubsidiaries.
IncaseofForeignCompaniesthenetprofitofsuchcompanyshallbedeterminedaspertheprofitandlossaccountpreparedundersection381(1)(a)readwithsection198oftheCompaniesAct,2013.
17
18. SURPLUS GENERATED FROM CSR ACTIVITIES
TheCSRPolicyofthecompanyshallspecifythatthesurplusarisingoutoftheCSRProjectsorprogramsoractivitiesshallnotformpartofthebusinessprofitofacompany.
18
20. MACRO PICTURE -SIZE OF THE CSR SPACE
Around16,000companiesfallwithinthepurviewofSection135;
Around₹20,000croresintotal,willbespentbyCorporatesincurrentFYonCSR;
148CPSUs*willcontributeCSRspendtothetuneofapprox₹3378cr.;
184SLPEs**willcontributeCSRspendtothetuneofapprox₹263cr;
Therestareprivatesectorcompanies.
Around25pcwouldbecontributedbyPSUs
13* CPSU-Central Public Sector Undertaking* * SLPE-State Level Public Enterprises
21. METHOD OF IMPLEMENTATION OF CSR
TheBoardofacompanymaydecidetoundertakeitsCSRactivitiesapprovedbytheCSRCommittee,throughanyofthefollowingthreeagencies:
Aregisteredtrust
Aregisteredsociety
ASection8company
1421
22. METHOD OF IMPLEMENTATION OF CSR (CONT’D)
Providedthat:
Ifsuchtrust,societyorcompanyisnotestablishedbythecompanyoritsholdingorsubsidiaryorassociatecompany,itshallhaveanestablishedtrackrecordofthreeyearsinundertakingsimilarprojectsorprograms;
Thecompanyhasspecifiedtheprojectorprogramstobeundertakenthroughtheseentities,themodalitiesofutilizationoffundsonsuchprojectsandprogramsandthemonitoringandreportingmechanism.
•
1522
26. 1. SrNo.
2.
CSR project/ activity identified
3.
Sector in which the project is covered
4.
Projects/ Progra- mmes
1.Local
areas/
others
1.Specify
the state/ district
5.
Amount outlay (budget) project/ programme wise
6.
Amount spent on the programme / project
Subheads
1.Direct
Expenditure
on projects
2.Over heads
7.
Cumulative spend up to the reporting period
8.
Amount
spent
Direct
or
through
Implem-
enting
agency*
26REPORTING TEMPLATE
* Give details of Implementing Agency
26
27. Signed
…………………………………………..
(CEO/Managing Director/Director)
……………………………………
(Chairman CSR Committee)
……………………………………
(Person specified under clause (d) of sub-section (1) of section 380 of the Act) (wherever applicable)
Reporting on CSR Initiatives
22
27
29. A CSR project needs to haveBaseline survey Duration of the ProjectAmount allocated to the Project
Amount allocated to the Project in current FY
Start Date / End Date
Monitoring and Documentation
Objective Evaluation
30. THE SECTION 135: IMPLEMENTATION PROCESSDeveloping a CSR Strategy Operationalizing the institutional mechanism – team identification & capacity building Identifying the Implementing Agencies (conducting due diligence, if required)
Project Development – Detailed Project Report (DPR)Clear identification of CSR Budget
Finalizing agreement with the implementing agency
Documentation, Monitoring (at Board and Sub-board level)
Project Implementation
Project impact assessment
Preparation of reporting format and placement in public domain
1352
4Identifying the Implementing Agencies (conducting due diligence, if required)
3698
7
Project approval – insertion of the approved projects in the policy
Evaluation (Concurrent, Final & preferably Third Party)
8
10
17-11-2014
30