Corporate Social Responsibility
As per the Section 135 of Companies Act, 2013, every company having a net worth of rupees five hundred crore or more, or a turnover of rupees one thousand crore or more, or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors. The Board of a company may decide to undertake its CSR activities approved by the CSR committee, through a registered trust or a registered society.
Indo-American Society can act as implementing agency, since it has track record of more than three years [CSR Rule (2)], for the schedule VII Activities, i.e.
promotion of education, employment enhancing vocational skills, advise & assist CSR committee of companies in formulation of CSR Programs related to areas as below:
- Eradicating extreme hunger and poverty.
- Promotion of education.
- 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 socioeconomic development and relief and funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women.
- such other matters as may be prescribed CSR rule (6) permits expenditure on administration overheads not exceeding 5% of total CSR expenditure as part of CSR expenditure. Thus, IAS can charge CSR Program administration fees to the companies as an implementing agency.
If you wish to appoint the Indo-American Society as your CSR Implementing Partner, then feel to write us on : firstname.lastname@example.org