Corporate Social Responsibility(CSR)-post amendment & in Pandemic scenario. CSR can be defined as a Company’s sense of responsibility towards the community and environment, both ecological and social in which it operates. CSR is not charity or mere donations. CSR is a way of conducting business, by which corporate entities visibly contribute to the social good. On 31 July 2019, the Companies (Amendment) Act 2019 (Amendment) received the assent of the President of India. The Amendment also retains the ‘crackdown’ provisions on black money and shell companies. The new crackdown provision is the revisions to the existing framework of Corporate Social Responsibility (CSR). The CSR regime is now no longer “comply or explain” but “comply or imprisonment”. Erstwhile CSR requirements under Section 135: Under the erstwhile framework, all companies having net worth of INR 500 Crore or more, or turnover of INR 1000 Crore or more, or net profit of INR 5 Crore or more during any financial year, are required to constitute a CSR committee. Such companies were required to develop a dedicated CSR policy (giving preference to local areas where the company operates) and establish a CSR fund equivalent to 2 percent of the average net profits made by the company in 3 (three) immediately preceding financial years. Under the Companies Act 2013 (Companies Act), if the company failed to meet its CSR obligations, the reasons for not spending the CSR amounts were required to be disclosed If there are any unspent CSR funds during a financial year (in respect of an ongoing CSR Project), in accordance with its CSR policy, the company must transfer such unspent CSR funds into a special account within a period of 30 (thirty) days from the end of the financial year. Such account, to be opened with a scheduled bank by the company, will be called an Unspent Corporate Social Responsibility Account (Unspent CSR Account) and the proceeds of the Unspent CSR Account will have to be spent by the company towards the CSR projects (under its CSR policy) within 3 (three) financial years from the date of such transfer. If the company is unable to spend the sum in the Unspent CSR Account within the prescribed period of 3 (three) financial years, then, such unspent amount should be transferred to a fund specified under Schedule VII of the Companies Act (Schedule VII Fund) within 6 (six) months from the end of the relevant financial year. Considering the spread of novel Coronavirus (COVID-19) in India, the Ministry of Corporate Affairs (MCA) has announced that spending of CSR Funds for COVID-19 is an eligible CSR activity of a company. The Government clarified that the funds spent on measures to tackle the Covid-19 outbreak would be considered as the corporate social responsibility (CSR) activity of firms. Eligible CSR Expenditure Related to COVID-19 Activities are:- 1.Contribution to PM CARE Fund 2.Contribution to the State Disaster Management Authority. 3.Spending of CSR fund for Covid-19. Ineligible spending on CSR are:- 1.Contribution to CM’s/ state relief fund. 2.Payment of wages to employees. 3.Payment to casual workers during the lockdown period. KAMAL NATH THAKUR DGM-FINANCE NTPC Ltd. SSC-DBF& HYDRO.
Dear Friends, I have observed (mostly on Quora) that it is very common query about how to start our journey for preparing ourselves for any kind of exam related to job. I am listing here very basic steps to start for preparation. 1. Decide for which exam you want to prepare (like UPSC civil services / State services / NDA / SSC CGL / Teacher recruitment exam / CA etc). 2. Read the latest recruitment notice in details to understand the exam pattern (stages of exam - pre/mains/interview, o...
Most of the time we are hearing the stories of bad luck as a reason for failure. However when hard work and determination combines, even permanent disability could not stop a person from having success . In this story a person with disability took loan for his livelihood and started one small shop. After years of handwork he came up with a very famous retail store …”Vishal Megha Mart”. Ram Chandra Aggarwal was born into a common family. Even after several tries of his family could not even ...
Hi friends hope all are doing good with their lives. As the day of the exam is nearing, the tension and pressure on exam preparation would also be increasing for many if not all the aspirants. An Important component of any Exam preparation is Motivation. If an individual is motivated enough, he or she will find the entire preparation period very enjoyable. On the other hand, if the motivation is lacking the most talented and intelligent aspirants also find it very difficult to concentrate...
“May be this article is not complete, but it is not incomplete.” UPSC, an exam to which I had been so closely attached that till today, I feel the void in me of not clearing it. But anyways, that’s how the life is meant to be: Sometimes success and sometimes failure. How it feels like to clear UPSC Civil services exam: I think I am not the right person to comment on this, but after I realized one thing( which I would be sharing later in this article) made me confident of commenting o...
"UPSC demands a dedicated and committed student life" Student life is the Golden period of life. During this period there is opportunity for learning and becoming what one dreamt of. So, if student life is managed carefully and guided properly, then one can realize the golden fruits of this period. A student should have following qualities in him/her: Effort: Student should try hard to achieve his/her aim. Like, an eagle while flying keeps an eye on its prey and catches it wit...
Why to choose ITI? If you are a class10 student and you are planning to pursue ITI courses. Don’t worry you are choosing a right career options. Now a day’s professional degree works more than getting academic degree in getting good jobs. Today Indian govt running various skill development programmes to empower the youth to become more employable and more productive. Industrial training Institutes are providing courses across India which supports the capability and skill enhancement of you...
This story is about a boy, who was wandering in the darkness of his own life and by his strong determination he reached the height of a sky. Shrikant Bolla Srikanth Bolla — a 19-year-old sophomore who is blind — recently realized a dream when he traveled to Hyderabad, India, to develop a computer-training center for visually challenged students Source: https://spectrum.mit.edu/spring-2011/living-his-dream/ He was bor...
The coronavirus pandemic is an unprecedented situation in modern times. It is hard to gauge the full impact that the situation is having on children and young people’s mental Conditions. Return to school is important but we are not sure who is having corona in school. It is very important to make a holistic strategy for return. Although it is unclear when schools will open but when the decision will come we will not be in situation to send or stop our kids to school. These 5 thing will com...
International Commercial Terms(Incoterms) Incoterms, a widely-used terms of sale, are a set of 11 internationally recognized rules which define the responsibilities of sellers and buyers. Incoterms specifies who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities. The Incoterms- are a set of 11 individual rules issued by the International Chamber of Commerce (ICC) which define the responsibilities of seller...
#आईएएस_परीक्षा_के_लिए_कुछ_तथ्य -------------------------------------------------- यह अक्सर कहा जाता है कि IAS परीक्षा को क्वालिफाई करने के लिए प्रतिदिन 16-18 घंटे गहन अध्ययन की आवश्यकता होती है। एक धारणा यह भी है कि IAS परीक्षा की तैयारी के दौरान IAS उम्मीदवारों को किसी अन्य कार्यों में शामिल नहीं होना चाहिए तथा दैनिक कार्यों के लिए कम-से-कम समय बर्बाद करना चाहिए। इस लेख में हमने IAS उम्मीदवारों को ऐसी गलत धारणाओं से दूर रहने का सुझाव दिया है तथा ऐसी स्ट्राटेजी के बारे में भी ब...
Dear all ( Marks of few of my students in offline batch 99/100 , 98/100, 96/100, 95/100, 94/100, 93/100, 92/100 ) As Corona is spreading and we are facing a problem that never happened before. A segment that is most affected are Students. Due to situation of schools and lack of techno friendly infrastructure in them and few other reasons like fee submission refusal by parents ( parents are also not at fault as financial condition is not good due to corona) only few students are getting...
Corporate Social Responsibility(CSR)-post amendment & in Pandemic scenario. CSR can be defined as a Company’s sense of responsibility towards the community and environment, both ecological and social in which it operates. CSR is not charity or mere donations. CSR is a way of conducting business, by which corporate entities visibly contribute to the social good. On 31 July 2019, the Companies (Amendment) Act 2019 (Amendment) received the assent of the President of India. The...
The ancient science of Yoga is India’s great gift to the world. Glad to see more and more people adopting it. Amid stress and strife, especially with #Covid19, practicing Yoga can help keep the body fit and mind serene.
Biodiversity is the presence of different species of plants and animals on the earth. It is also called biological diversity as it is related to the variety of species of flora and fauna. Biodiversity plays a major role in maintaining the balance of the earth. But due to increasing population, industry and materialism, biodiversity is decreasing day by day. Biodiversity is extremely important to maintain ecological system at earth. Plant and animal is dependent on each other. If one plant o...
A small kid of a tribal village mesmerised when people of his village touching feet of an IAS Officer. The kid started focussing his studies with dedication and hard work. A decade later, He did his graduation in Mechanical engineering with a gold medal. He started teaching in An Engineering College for his livelihood, same time he was also preparing for UPSC civil services. He became IPS officer in his first attempt but he could not satisfy because of his childhood Dream. He appeared agai...
There is always a debate, who is most qualified person in India. We can consider Dr Shrikant Jichkar as one of the most qualified and talented person in India . Shrikant Jichkar was born to a farmer in a Kumbi familynear Katol, Nagpur District. He had one of the biggest personal libraries in India with 52,000 books and was also a painter, on stage performer and a professional painter. He started with medical profession (MBBS and MD from Nagpur), he did his Law (LL.B.) with post-graduatio...
New date has been announced for NEET 2020 and it is 26 July. So students you have only 60 days for your preparation. I will share you strategy to score more in the Exam. 1. Set for your optimistic target Please coax yourself to increase your target first as your target will turn into your efforts and definitely you will increase your marks. 2. Work on your mental state Less time always puts pressure on your mind. Output level always drops in pressure. You need to be confident during you...