CSR Compliance & Advisory
Companies Act, 2013 under Section 134, makes it compulsory to constitute Corporate Social
Responsibility Board, if a company has
net worth of rupees five hundred crore or more, or
turnover of rupees one thousand crore or more or
a net profit of rupees five crore or more during any financial year.
The Board of every such company shall ensure that the company has CSR policy and it
spends, in every financial year, at least two per cent of the average net profits of the
company made during the three immediately preceding financial years as per the policy.
The company violating the provision would face penalty of Rs.50000 to Rs.25 Lakh.
White Code Legal would help its clients to frame effective CSR policy and monitor spending as per the policy.