CORPORATE LAW PRESENTATION ON CORPORATE SOCIAL RESPONSIBILITY by: Pooja nagar Shamli rai Sushmita rai Sourav nagar Deepak mourya Jaya pandey Barak.

CORPORATE LAW PRESENTATION ON CORPORATE SOCIAL RESPONSIBILITY by:

Pooja nagarShamli raiSushmita raiSourav nagarDeepak mouryaJaya pandeyBarak

What is corporate social responsibility Corporate initiative to assess and take

responsibility for the company's effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups.

Importance of corporate social responsibility As mentioned in our earlier blog about

corporate social responsibility, current times don’t allow for companies to simply be in business for the sake of making a profit anymore. While consumers may rely on corporations for goods and services.

Importance of CSR

Better public image Better and more media coverage Foster a positive workplace evvironment Greater funding through employee

matching programmee Csr involved everyone involved

Pyramid /levels of corporate social responsibility

Economic responsibility Legal responsibility Ethical responsibility Philanthropic responsibility

What is corporate social responsibility in company act 2013 The Ministry of Corporate Affairs has notified Section 135 and

Schedule VII of the Companies Act 2013 as well as the provisions of the Companies (Corporate Social Responsibility Policy) Rules, 2014 to come into effect from April 1, 2014.

With effect from April 1, 2014, every company, private limited or public limited, which either has a net worth of Rs 500 crore or a turnover of Rs 1,000 crore or net profit of Rs 5 crore, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility activities. The CSR activities should not be undertaken in the normal course of business and must be with respect to any of the activities mentioned in Schedule VII of the 2013 Act. Contribution to any political party is not considered to be a CSR activity and only activities in India would be considered for computing CSR expenditure.

Example of corporate social responsibility While many companies now practice some form

of social responsibility, a few have made it a core of their operations. Ben and Jerry's ice cream offers one prominent example; the company uses only fair trade ingredients, and developed a dairy farm sustainability program in its home state of Vermont. Starbucks has created its C.A.F.E. Practices guidelines, which are designed to ensure the company sources sustainably grown and processed coffee by evaluating the economic, social and environmental aspects of coffee production. Tom's Shoes, another notable example of a company with CSR at its core, donates one pair of shoes to a child in need for every pair a customer purchases.

What is corporate social responsibility committee The Corporate Social Responsibility

Committee is a Committee of the Board of Directors.  It shall act in an advisory capacity to the Board and management with respect to policies and strategies that affect the Company’s role as a socially responsible organization.  

Function of corporate social responsibility committee

The Corporate Social Responsibility Committee shall perform any other duties assigned to it by the Board.

The Corporate Social Responsibility Committee shall annually review its own performance.

The Corporate Social Responsibility Committee shall monitor the process that is undertaken to prepare the Company’s annual Corporate Social Responsibility Report and shall review and be consulted with regarding the Report prior to its publication.

The Corporate Social Responsibility Committee shall meet with the Company’s human rights department regarding human rights matters of significance to the Company.

Activities under csr

Organizational governance Fair operating practices Human rights Consumer issue Labour practice Environment Community involvement and

development.

Thank you.....