CORPORATE SOCIAL RESPONSIBILITY
An organisation cannot survive long without interacting with the society it operates in. Therefore, social responsibility and ethical practices are paramount for the business nowadays. The Companies Act, 2013 has come up with the concept of Corporate Social Responsibility(CSR) thereby encouraging Companies to integrate social and environmental concerns in their business operations and to improve interactions with their stakeholders.
MEANING OF CORPORATE SOCIAL RESPONSIBILITY:
CSR means that it becomes the responsibility of every Company to take steps towards the Development of its Society where the company is operating its business.
APPLICABILITY OF CSR:
- As per Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility) Rules, 2014, Every Company having:
- Net worth of Rupees 500 crore or more;
- Turnover of Rupees 1000 crore or more;
- Net Profit of Rupees 5 Crore of more;
during the immediately preceding Financial year, shall constitute a CSR committee of the Board consisting of three or more Directors, out of which one shall be Independent Director, if appointed.
- Every Company including a Foreign Company having its branch/project office in India and falling under above provisions shall spend in every financial year, at least 2.00% of the average Net Profits of the Company made during the three immediately preceding financial years.
THE J&P ADVANTAGE:
Our CS Team at J&P handles the whole process with utmost due diligence. From documents compiling to completion of the process our team works with utmost care leaving no potential loopholes. Our Team will assist you in the following activities in respect to your CSR compliances to bring about a virtuous social standing for your business organisation:
- Providing assistance in deciding the activity for spending CSR amount;
- Providing assistance in calculation of amount to be spent;
- Providing assistance in formulating CSR policy;
- Providing assistance regarding all compliances for formation of CSR committee and holding its meetings