CSR

In India, Corporate Social Responsibility (CSR) is governed by clause 135 of the Companies Act, 2013, which was passed by both Houses of the Parliament, and had received the assent of the President of India on 29 August 2013. The CSR provisions within the Act is applicable to companies with an annual turnover of 1,000 crore INR and more, or a net worth of 500 crore INR and more, or a net profit of five crore INR and more. The Act encourages companies to spend at least 2% of their average net profit in the previous three years on CSR activities.[1]

General Circular No. 21/2014 of the Ministry of Corporate Affairs (MCA) dated June 18, 2014 clarifies that Contribution to Corpus of a Trust/ Society/ Section 8 companies etc. will qualify as CSR expenditure as long as:

(a) the Trust/ Society/ Section 8 company etc. is created exclusively for undertaking CSR activities or

(b) where the corpus is created exclusively for a purpose directly relatable to a subject covered in Schedule VII (http://www.mca.gov.in/SearchableActs/Schedule7.htm) of the Act[2]

Amongst the ten activities listed in Schedule VII, Ekonnect is involved in the following

 (ii) promotion of education;

 (vi) ensuring environmental sustainability;

(vii) employment enhancing vocational skills;

(viii) social business projects;

For activities meeting above criteria, Ekonnect is eligible to receive CSR funds as sponsorship to conduct the activities.

Please reach us if our interest align and we would be happy to work with you to deliver ysponsor the 

Ekonnect Knowledge Foundation is registered as a Section 8 company (Corporate Identity Number: U93030MH2012NPL235985) under the Companies Act, 2013.

[1] https://www.pwc.in/assets/pdfs/publications/2013/handbook-on-corporate-social-responsibility-in-india.pdf

[2] http://www.mca.gov.in/MinistryV2/faq+on+csr+cell.html

Established in 2012, Ekonnect Knowledge
Foundation is a Section 8 not-for-profit
company offering awareness, training and
education programs in the domains of
environmental management and sustainability.

Contact Ekonnect

Ekonnect Knowledge Foundation
504/505, 5th Floor, Balarama Building,
BKC, Near MMRDA Office,
Bandra (East) Mumbai – 400051
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Email: prasad.modak@ekonnect.net 
Phone: 91-22-62215944 / 5946

 

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