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SOCIAL RESPONSIBILITY OF CORPORATE CS Executive

SOCIAL RESPONSIBILITY CS Executive CORPORATE

Corporate Social Responsibility is a regulation which obliges companies to take an active part in complying with the legal spirit of the ethical norm and international norm. CSR activities help the organization to have a better impact on society, consumers and our stakeholders. It gives the edge to CSR-following business over others.

 

APPLICABILITY OF CSR ON BUSINES

As per section 135 of the Act 2013 of the Company,

 Every company that lies in these conditions must spend the prescribed amount on CSR activities:-

 1. Company with a net value of 500crore ropes or more

2. Company with a turnover of roupees 1000crore or more

3. Company with a net profit of 5crore or more

Upon compliance with any of the above conditions, the company shall establish a CSR committee, which shall establish policies related to CSR expenditure and shall be disclosed in the report of the board of directors.

The company shall make expenditure of at least 2 per cent of the average net profit made by the company during the three immediate financial years in accordance with the activities of corporate social responsibility.

 SOCIAL RESPONSIBILITY BENEFITS OF CORPORATE

  • It will help retain the employee in the organization
  • It will increase the goodwill and corporate image of our organization
  • Benefit our society for the sake of greater good
  • Increase the trust of stakeholders such as investors and financial analysts
  • It is going to increase our sales

 CSR COMMITTEE CONSTITUTION

 Each committee to which section 135 of the Company Act 2013 applies is required to set up a CSR committee.

The Committee shall consist of three or more directors

1 director out of 3 directors should be an independent director.

A private company and unlisted company not required to appoint an independent director shall not be required to appoint an independent director to the CSR Committee.

A private company with 2 directors may constitute a CSR committee with only 2 directors.

 

Read More About CORPORATE SOCIAL responsibility on our blog section.

 

Thanks for Reading, Hope that this article will Help.

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