Evolution of CSR
CSR in India has evolved from mere Philanthropy to a more wider concept called Creating Shared Value (CSV). Under CSV, Companies integrate social issues into their business operations, thereby making CSR a part of their revenue strategy.
Following the concept of CSV, businesses can reap in a lot of tangible and intangible benefits and at the same time create social impact for a better future.
Avad India specializes in guiding the corporate partners to ensure their CSR spends benefit the community and company both.
Return on CSR Investment
CSR is not a mere expense but an investment. By aligning your CSR strategy with your business objectives, its values and your core products you can actually deliver a solid return on investment.
-
Employee engagement activities lead to more motivated and happy employees leading to reduced attrition, increased productivity and morale.
-
Employee Volunteering imparts much needed skill and learning to employees.
-
Greater acceptance and strengthened relations with your local community.
-
Enhanced brand image and increased customer loyalty.
-
Cost savings resulting from Sustainable business operations.
-
A more holistic corporate identity.
-
Removing obstacles in your business.
Legal Requirements of CSR in India
Turnover of Rs.1000 crore or more; or
Net Profit of Rs.5 crores or more,
It is also mandatory for such company to form a CSR Committee, CSR Strategy and Policy containing activities specified in Schedule VII of Companies Act. Such policy must be disclosed in Annual Report and on company website. The CSR Act and rules make it mandatory for a company to institute a 'Transparent Monitoring Mechanism' for their CSR projects, defining & documenting the progress. Also, there are compliance relating to Business Responsibility reporting, The CSR Rules 2014 and Sexual Harassment of Women at Workplace Act, 2013.
Avad India can help you understand and comply with all your CSR regulatory requirements.