India is first and only nation with legislated CSR
Law mandates that all companies, including foreign firms, with a minimum net worth of Rs 500 cr, turnover of Rs 1,000 cr and net profit of at least Rs 5 cr, spend at least 2% of their profit on CSR. The new law mandates that all companies, including foreign firms, with a minimum net worth of Rs 500 crore, turnover of Rs1,000 crore and net profit of at least Rs 5 crore, spend at least two percent of their profit on CSR.According to industry estimates, around 8,000 companies will fall into the ambit of the CSR provisions and this would translate into an estimated CSR spend of $1.95 billion to $2.44 billion. With higher economic growth and increase in companies profits, this mandatory spending will go up.
India is the only country that has made legislation for CSR spending. And, the new law is expected to lead to a significant increase in spending by companies on CSR activities.
Consult to get your company's CSR activities audited!
With a rich experience of working actively in the area of social justice for over three decades, DraftCraft's founder head Gajanan Khergamker undertakes CSR audit and offers consultancy services to state bodies and corporates. The roadmap for the projects broadly includes:
* Showcasing niche social justice needs from among projects all of India to state bodies and corporates. The projects involve child labour, women, health, education, justice, children, environment, animal welfare, consumer guidance and legal aid besides a range of others all over India.
* Creating pertinent tailor-made briefs to suit a state body's or a corporate's niche requirements will be created after an analysis of the need and requirement by law.
* Identifying the beneficiaries in question will be identified and marked for closer coordination.
* Generating a detailed plan of action to ascertain the need of the 'marginalised group', the 'relief to be offered', 'the quantum and quality of relief being offered,' and 'the bonafides of the relief providers'.
* Creating an audit of the CSR works undertaken, at regular predetermined periods for the the state body or corporate in question.
* Undertaking exhaustive documentation and media-generation during field trips undertaken through the process of CSR consultancy.
As a part of the independent audits undertaken, the state body or corporate's outreach programmes and CSR activities will be collated and recorded for a final review brief.
And finally, legally-binding audit will be generated by Gajanan Khergamker for the state body or corporate in question.
Click here to send in a mail or call Gajanan Khergamker on 08080441593 to address your CSR concerns now.