Corporate Social Responsbility

Corporate Social Responsibility ( CSR ) has been playing a major role in the development and social welfare activities in India. As compared to other countries, India is considered to be having the richest traditions in CSR. There are lots of corporate houses in India who contribute a huge amount of fund in social welfare activities. Companies like TATA, Birla has been practicing the Corporate Social Responsibilities for decades long before CSR become a popular basis.

Under the new Companies Act , 2013 all profitable companies with a sizeable business would have to spend every year at least 2 % of 3 year average profit on CSR activities. This would apply to all the companies with net worth of Rs 500 crore or more, or a turnover of Rs 1,000 crore or more, or a net profit of Rs 5 crore or more. During financial year 2012-13, state owned oil companies like ONGC and OIL Corporations spent almost Rs 385 crore in CSR activities as per statement from Oil Ministry.

The new rules, which would be applicable from the next fiscal 2014-15, also require the companies to set up a CSR committee of their board members, including at least one independent director. Corporate Organisations prefer those NGO’s or Welfare Organisations who have 12A and 80G registration of Income Tax Act, 1961.

CSR Funds are mostly granted in the following areas of welfare activities:-

  1. Skill Development / Empowerment
  2. Community Development
  3. Drinking / Water & Sanitation
  4. Education / Literacy Enhancement
  5. Environment Protection / Horticulture
  6. Medical / Healthcare
  7. Infrastructure Development (Building, Roads, Electrification, Street Lighting in Rural areas, etc).

Minimum Criteria to apply for CSR Funds

  1. NGO should have a permanent office address in India.
  2. NGO should be registered under Society Registration Act.
  3. Should have 12A , 80G Registration under Income tax Act, 1961
  4. NGO should have PAN CARD.
  5. Bank Account in a nationalised bank.
  6. Last 3 years Balance Sheet and Annual Report.

TOP CSR CORPORATES IN INDIA

  1. Tata Steel
  2. ONGC
  3. Larsen & Turbo
  4. Aditya Birla Group
  5. Indian Oil Corporation
  6. Bharat Petroleum Corporation Limited
  7. GAIL
  8. Maruti Suzuki India Limited
  9. Hindustan Unilever Limited
  10. Mahindra & Mahindra Limited
  11. TCS
  12. ICICI BANK
  13. Tata Motors
  14. Reliance Industries
  15. Hindalco Industries
  16. CISCO
  17. IBM
  18. Intel Foundation

To know more about how to apply for CSR funds please send us a mail at info@brngoconsultancy.in

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