CORPORATE SOCIAL RESPONSIBILITY

The Ministry of Corporate Affairs in India notified Section 135 and Schedule VII of the Companies Act 2013 and provisions of the Companies (Corporate Social Responsibility Policy) Rules, 2014 to be effective from April 1, 2014.

The Section 135 defines that every company, private limited or public limited, which either has a net worth of Rs 500 crore or a turnover of Rs 1,000 crore or net profit of Rs 5 crore, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility activities. The CSR activities should not be undertaken in the normal course of business and must be with respect to any of the activities mentioned in Schedule VII of the 2013 Act.

Activities which may be included by companies in their Corporate Social Responsibility Policies could be activities related to:

• eradicating extreme hunger, poverty and malnutrition
• promotion of education and preventive healthcare;
• promoting gender equality and empowering women;
• reducing child mortality and improving maternal health;
• combating human immunodeficiency virus, acquired immune deficiency
• syndrome, malaria and other diseases;
• ensuring environmental sustainability;
• employment enhancing vocational skills;
• social business projects;
• contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government or the State Governments for socio-economic development and relief and funds for the welfare of the Svheduled Castes, the Scheduled Tribes, other backward classes, minorities and women; and
• such other matters as may be prescribed.

Vishad has implemented several milestone CSR project involving Training, Women Empowerment and Renewable energy directly impacting lives of underprivileged and persons in need. Vishad’s real time approach and exposure to work at ground level is the distinguishable factor.

Please feel free to connect with us to discuss how we can help to implement your CSR initiative.