{"id":23070,"date":"2019-08-16T17:02:56","date_gmt":"2019-08-16T11:32:56","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=23070"},"modified":"2019-09-05T18:41:01","modified_gmt":"2019-09-05T13:11:01","slug":"updates-on-csr-rules","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/updates-on-csr-rules\/","title":{"rendered":"Companies may be Penalized For not Meeting CSR Rules"},"content":{"rendered":"

Recently CSR Rules have been amended. By the way of an amendment<\/a> to Company law, Finance Minister Nirmala Sitharaman has passed a specific reform to ensure more transparency and also strengthen the company regulation and accountability of the organization. The bill was passed to avoid the violation of the Corporate social responsibility and could land company officials in jail for up to 3 years. The bill advocates that the company will have to give entire details about the spending of money and also the company cannot get away without meeting the corporate social responsibility requirements.<\/p>\n\n\n\n

What\nare CSR Rules?<\/h2>\n\n\n\n

The full form of CSR is Corporate Social Responsibility<\/a>. CSR is the compliance for eligible business organizations that aims to create  socially accountable business entities. In CSR, a company makes initiative to enhance society and the environment. CSR programs, philanthropy events, and volunteer efforts are major channels of CSR implementation.<\/p>\n\n\n\n

Businesses can benefit the society while boosting their brand presence through various activities during the implementation of CSR policy<\/a>. CSR works on the policy that the more visible and successful the organization is, the more responsibility it has, to set standards of ethical behavior for its transparency, competition, and the industry.<\/p>\n\n\n\n

<\/p>

In CSR Policy the activities not only includes compliance\nwith human rights standards, labor, and social security arrangements but also works\nfor the cause of climatic change, the sustainable management of natural\nresources, consumer protection, philanthropic initiatives, and volunteer\nprojects.<\/strong><\/div>\n\n\n\n

Which\nActivities does not Include in CSR?<\/h2>\n\n\n\n

The activities\/programs\/events that benefit only the\nemployees of the company and their families shall not be considered as a part\nof CSR. Further as per section 135 of the Act following activities is not\nconsidered as CSR activities;<\/p>\n\n\n\n