TMI BlogCHAPTER IX-CSR RULESX X X X Extracts X X X X X X X X Extracts X X X X ..... that increase only their profits. They use CSR to integrate economic, environmental and social objectives with the company s operations and growth. ................................................ In exercise of the powers conferred under clause (o) and clause (q) of sub-section 3 of Section 134 read with Section 135 and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 the Central Government hereby makes the following Rules namely: PART I Short title and commencement 1. These rules may be called the Corporate Social Responsibility Rules, 2013. 2. They shall come into force on the date of their publication in the official gazette and shal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Policy of the company which shall include the following: a. specify the projects and programmes that are to be undertaken. b. prepare a list of CSR projects/programmes which a company plans to undertake during the implementation year , specifying modalities of execution in the areas/sectors chosen and implementation schedules for the same. c. CSR projects/programmes of a company may also focus on integrating business models with social and environmental priorities and processes in order to create shared value. d. CSR Policy of the company should provide that surplus arising out of the CSR activity will not be part of business profits of a company. e. CSR Policy would specify that the corpus would include the following: a. 2% of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sideration as are undertaken within India. 8. Only activities which are not exclusively for the benefit of employees of the company or their family members shall be considered as CSR activity. 9. All companies falling under the provision of Section 135 (1) of the Act shall report, in the prescribed format, the details of their CSR initiatives in the Directors Report and in the company s website. Annexure - 1 FORMAT FOR THE ANNUAL REPORT ON CSR INITIATIVES TO BE INCLUDED IN THE BOARD REPORT BY QUALIFYING COMPANIES 1. Provide a brief outline of the company s CSR policy including the statement of intent reflecting the ethos of the company, broad areas of CSR interest and an overview of activities proposed to be undertaken. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TOTAL *Give details of implementing Agency: 7. In case the company has failed to spend the 2% of the Average Net Profit (INR) of the last 3 financial years, please provide the reasons for not spending the amount 8. A Responsibility statement, of the CSR Committee, that the CSR policy implementation and monitoring thereof is, in letter and spirit, in compliance with CSR objectives. Signed .. (CEO/Managing Director/Director) (Chairman CSR Committee) SCHEDULE VII (See sections 135 ) Activities which may be included by companies in their Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X
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