By mit_youthbuildNovember 17, 20220Uncategorized What is CSR? Corporate Social Responsibility (CSR) in India is an activity in the social interests driven by the provisions of Companies Act, 2013. Said act not only defines CSR but also prescribes guidelines on how to spend , where to spend the CSR funds and report their utilisation as well as how to monitor such spending. From mere charity , CSR now has become a deliberate process for social development with complete regulatory framework to be implemented by the Corporates like GST, PF or ESI. Pleasantly Corporates too are enjoying this phase of doing social good.By practicing corporate social responsibility,also called corporate citizenship, companies are conscious of its impact on various aspects of society, including economic, social, and environmental. Corporates also see this as an opportunity to enhance their social image. Provisions of Indian Companies Act , 2013 Section 135 of the Companies Act of 2013 includes provisions for CSR. As a result, India’s CSR regulations must be followed by all Companies by forming a CSR Committee if they have net value of Rs. five hundred crores or more or turnover of Rs. one thousand crores or more, or average net profit of Rs. five crores or more during the past three financial year. A least 2% of a company’s average net earnings over the previous three years must be spent CSR. Schedule VII of section 135 of Companies Act , 2013 defines the activities on which CSR funds are to be spent. • Eradicating extreme hunger and poverty • Promotion of education • Promoting gender-equality and empowering women • Reducing child mortality and improving maternal health • Combating HIV, AIDS, malaria and other diseases • Ensuring environmental sustainability • Employment-enhancing vocational skills • Social business projects • Contribution to the Prime Minister’s National Relief Fund YouthBuild Foundations active contribution to CSR : Youth Build Foundation had opportunities to work on various CSR projets sponsored by eminent corporates like TATA Motors, TACO, Associated Capsules Ltd and Huntsman Ltd. YouthBuild has also spent from its resources on developing water reservoirs, green plantations, butterfly park , building primary and secondary schools, ladies toilets , sponsoring gyms and play ground for rural children. In the further blogs to come YouthBuild shall apprise readers on some such live projects.