Corporate Social Responsibility (CSR) is a way for companies in India to give back to society by investing in socially and environmentally responsible initiatives. The CSR rules and regulations in India are governed by the Companies Act of 2013, which requires certain companies to spend a certain percentage of their profits on CSR activities.
The main rules and regulations for CSR in India include:
Companies with a net worth of INR 500 crore or more, or a turnover of INR 1,000 crore or more, or a net profit of INR 5 crore or more, are required to spend 2% of their average net profits for the last 3 years on CSR activities.
Companies are required to form a CSR committee, which must include at least one independent director.
Companies are required to disclose their CSR activities and spending in their annual reports.
Companies are required to undertake CSR activities that fall under specified categories such as promoting education, eradicating hunger and poverty, and promoting gender equality.
Companies can undertake CSR activities through their own CSR initiatives or through partnerships with NGOs, or by contributing to a government-run fund or trust.
Companies are also required to disclose the details of their CSR activities, and the amount spent, in their annual reports filed with the Registrar of Companies.
The Ministry of Corporate Affairs (MCA) has been empowered to prescribe the CSR rules, and the Ministry has also issued a CSR rules and regulations compliance manual.
CSR activities can be done within India or outside India, if it is in the interest of the country.
It's important to note that the CSR rules and regulations in India are subject to change, and it's always recommended to consult with the appropriate authorities and to follow the latest guidelines.
Corporate Social Responsibility (CSR) in healthcare in India has been a growing trend in recent years, with many companies choosing to invest in healthcare-related initiatives as part of their CSR efforts.
In 2021-2022, the CSR activities of healthcare companies in India is likely to focus on the following areas:
COVID-19: With the ongoing COVID-19 pandemic, healthcare companies may focus on providing support and assistance to COVID-19 patients, including through the donation of medical equipment, funding for vaccination drives, and supporting the setting up of COVID-19 care centers.
Mental health: Mental health is expected to be one of the key areas of focus in CSR activities, with companies likely to invest in programs that promote mental well-being and support those suffering from mental illnesses.
Rural healthcare: Many companies are likely to continue to focus on providing healthcare services in rural and underprivileged areas, as well as providing support for the development of rural healthcare infrastructure.
Training and capacity building: Healthcare companies may also invest in training and capacity building for healthcare professionals and support for the development of medical education.
Non-communicable diseases: Companies may also continue to focus on the prevention and management of non-communicable diseases such as diabetes, hypertension, and cancer.
Women's health: Companies may also invest in programs that promote women's health and support the development of women's healthcare services.
Telemedicine: With the rise of telemedicine, Companies may also focus on providing telemedicine services and support in order to bridge the gap in accessibility of healthcare services.
It's important to note that the CSR activities in healthcare may vary based on the company's mission, vision and target population. It's always recommended to consult with the appropriate authorities and to follow the latest guidelines.
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