MEANING
Corporate social responsibility is basically a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment.
Thus CSR is no charity or mere donation.
DEFINITION
CSR is defined in Section 135 of Companies Act 2013
CSR means and includes but is not limited to:
1.Projects of programs relating to activities specified in schedule VII to the Act; or
2.Projects or programs relating to activities undertaken by the board of directors of a Company in pursuance of recommendations of the CSR committee of the Board as per declared CSR policy of the Company subject to the condition that such policy will cover subjects enumerated in schedule VII of the Act.
APPLICABILITY
All companies that have either of the following:
1. Net worth of 500 crores or more
2. turnover of 1000 crores or more
3. Net Profit of 5 crores or more
The central Government has announced the CSR Rules, 2013 which will be applicable from 1st April 2014.
Please find the ppt on CSR in the link below
http://www.mediafire.com/view/1k5d9b2dlktskaf/CSR.pptxCorporate social responsibility is basically a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment.
Thus CSR is no charity or mere donation.
DEFINITION
CSR is defined in Section 135 of Companies Act 2013
CSR means and includes but is not limited to:
1.Projects of programs relating to activities specified in schedule VII to the Act; or
2.Projects or programs relating to activities undertaken by the board of directors of a Company in pursuance of recommendations of the CSR committee of the Board as per declared CSR policy of the Company subject to the condition that such policy will cover subjects enumerated in schedule VII of the Act.
APPLICABILITY
All companies that have either of the following:
1. Net worth of 500 crores or more
2. turnover of 1000 crores or more
3. Net Profit of 5 crores or more
The central Government has announced the CSR Rules, 2013 which will be applicable from 1st April 2014.
Please find the ppt on CSR in the link below
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