CORPORATE SOCIAL RESPONSIBILITY (CSR) AND ITS COMPLIANCE BY MAHARATNA AND NAVARATNA CPSES IN INDIA
Keywords:
CSR: Corporate Social Responsibility, CSPE: Central Public Sector Enterprise, DPSE:Department of Public Sector Enterprises, PAT: Profit After Tax, PSU: Public Sector Undertaking, NA: No AllocationAbstract
The companies’ Bill 2012 which was passed by Lok Sabha mandates that every company having net worth of Rs.500 crore or more, or turnover of Rs 1000 crore or more or a net profit of Rs 5 crore or more during any financial year is required to constitute a Corporate Social Responsibility Committee. The Corporate Social Responsibility Committee will formulate a Corporate Social Responsibility Policy. Such a company is required to spend at least two per cent of the average net profits of the company made during the three immediately preceding financial year. This made the CSR a buzz word in Corporate World
