Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) is the funding and grants process under which Non-Profit Organisations (NGOs) can get financial and other support from the corporate sector. Under the Companies Act, 2013 it is a mandatory provision to provide a contribution of 2 percent of the average net profits of companies. CSR is required and applicable according to Sub-Section 1 of Section 135 of Companies Act, 2013. According to the Companies Act, the CSR provision is applicable for a company having a net worth of rupees 500 crores or more, or a turnover of rupees 1000 crores or more or a net profit of rupees 5 crores or more during any financial year. The company also has a Corporate Social Responsibility Committee of the Board.
The funds provided under Corporate Social Responsibility are for social development issues and make a positive impact on the living standards of the economically poor and disadvantaged people of society so they can live a productive and dignified life.
The CSR is a corporate initiative to assess and take responsibility for the company’s effects on the environment and impact on social welfare. CSR is related to efforts of companies for environmental protection and promotes positive social and environmental change.
The provisions of this Act are social welfare programmes and activities including promotion of education, health, water, environment, social empowerment, employment generation vocation skills for youth and women, child welfare and the differently abled people (divyang) by the livelihood enhancement projects.
How to get CSR Funding
- To get Empanelment with “National CSR Hub” at the Tata Institute of Social Sciences (TISS)
- Through the Companies who can Provide funding under Corporate Social Responsibility (CSR)
CSR Policy of Government of India (Source: http://finance.bih.nic.in/documents/csr-policy.pdf)