Rejecting reasons cited for not spending on CSR, MCA has told companies that they can contribute to the Prime Minister’s Relief Fund to meet their targets. The ministry of corporate affairs (MCA) has criticized companies for failing to meet the mandatory spending requirement on corporate social responsibility (CSR) initiatives.
Companies spent around Rs 5,082 crore or 92.7% of the mandated Rs 5,478 crores on CSR activities. The Nifty 50 companies have spent about 27% more in CSR (corporate social responsibility) activities this year, compared to last year, said a report by CimplyFive Corporate Secretarial Services, a tech solution provider for compliance. According to the …
Nifty 50 companies’ 2016 CSR spending rise by 27% Read More »
Minister for Industries and Commerce, Chander Parkashrecently inaugurated various works under ‘Corporate Social Responsibility’ initiatives being undertaken by United Phosphorous Limited (UPL) at Vijaypur and Ramgarh. The initiatives which were dedicated to the public included, toilet facilities at Govt Higher Secondary Schools Vijaypur and Ramgarh constructed at a cost of Rs. 3.5 lakh.
In order to integrate concrete CSR commitments into corporate compliance programs, a company must establish how each commitment translates into performance requirements for the relevant business units and departments. The nature of these requirements may differ considerably depending on a company’s industry and operating context, and the extent and nature of their CSR commitments.
Globally there is a growing emphasis on employee volunteering. The “Giving in Numbers: 2016 Edition” annual survey on corporate community engagement surveyed 272 multi-billion dollar companies globally (including 62 Fortune 100 companies).
