CSR Governing Law
In India, Corporate Social Responsibility (CSR) provisions are governed by Section 135 of the Companies Act, 2013. The CSR provisions mandate certain classes of companies to spend a specific amount of their net profit on CSR activities. Here are some key points about CSR provisions in India:
Applicability: Companies falling under the criteria specified in the Act need to comply with CSR provisions. This includes companies with a net worth of rupees 500 crore or more, or turnover of rupees 1,000 crore or more, or a net profit of rupees 5 crore or more during a financial year.
Spending Requirement: Covered companies are required to spend at least 2% of their average net profits made during the three immediately preceding financial years on CSR activities.
Eligible CSR Activities: The Act provides a list of activities that qualify as CSR spending. This includes but is not limited to eradicating hunger, promoting education, gender equality, environmental sustainability, and healthcare.
CSR Committee: Companies meeting the criteria must constitute a CSR committee consisting of at least three directors, with at least one being an independent director.
Disclosure and Reporting: Covered companies are required to disclose their CSR policies, initiatives, and spending in their annual reports. They must also submit an annual report on CSR activities to the Ministry of Corporate Affairs.
Implementation: Companies have the flexibility to implement CSR activities through their own entities or collaborate with other firms or NGOs.
Penalties for Non-Compliance: Failure to comply with CSR provisions may result in penalties, including fines and other legal consequences.
It's important to note that the details and requirements related to CSR provisions may change due to amendments in the Companies Act or subsequent government notifications. Therefore, it's advisable for companies to stay updated with the latest regulations and guidelines issued by the Ministry of Corporate Affairs or relevant authorities.
Companies engaging in CSR activities often focus on initiatives that align with sustainable development goals and contribute positively to society while enhancing their brand reputation and stakeholder relationships.
Welcome to Vibrant World Foundation's CSR Initiatives
At Vibrant World Foundation, we believe in the power of giving back to society and contributing to the well-being of communities. Our commitment to Corporate Social Responsibility (CSR) is at the heart of our values, guiding our actions to make a meaningful impact on the world around us.
Our CSR Vision
We envision a world where every individual has access to essential resources, education, healthcare, and opportunities for growth. Our CSR initiatives are driven by the core values of:
Sustainability: Upholding environmentally friendly practices and promoting sustainable development.
Community Empowerment: Investing in initiatives that empower communities through education, healthcare, and skill development.
Ethical Conduct: Ensuring ethical business practices across all our operations and engagements.
Our CSR Approach
Our CSR initiatives are driven by a deep sense of responsibility towards society and the environment. We focus on areas that align with our core values and global sustainability goals, aiming to address pressing social challenges.
Key Focus Areas
At Vibrant World Foundation, We channel our CSR efforts into diverse areas to create a comprehensive impact, including:
Education: Enabling access to quality education, scholarships, and educational infrastructure improvements for underserved communities.
Empowerment: We have faith in the transformative potential of learning. Our initiatives focus on providing quality education, promoting digital literacy, and supporting skill development programs.
Environment: Promoting environmental sustainability through initiatives like tree planting, waste management, renewable energy promotion, eco-friendly practices, biodiversity conservation, and initiatives aimed at reducing our ecological footprint.
Employment: We empower individuals and communities by supporting livelihood enhancement programs, fostering entrepreneurship, and promoting economic independence.
Equallity
Energy
Earth
Our Initiatives
"NSKFDC
Training program for manual scavengers / dependents and safai karmcharis / dependents
Course Duration 3 months post that Placements
Mobilization of 400 students for the social development in the area of Home Health Aid and GDA"
"NSDC UDAAN
Skill Development Program ran for youth of J&K"
Collaborations and Partnerships
We believe in the strength of partnerships hence we collaborate with NGOs, governmental bodies, and local communities to amplify the reach and effectiveness of our CSR initiatives. These partnerships help us leverage expertise, resources, and knowledge to create sustainable and scalable solutions.
Transparency and Accountability
We are dedicated to maintaining transparency in our Corporate Social Responsibility initiatives. Our annual reports and disclosures provide detailed insights into the projects undertaken, funds allocated, and the impact generated. Upholding accountability is at the core of our CSR strategy.
Get Involved
We encourage stakeholders, employees, and communities to engage and participate in our CSR endeavors. We welcome you to accompany us on this impactful journey of creating positive change. Your support, whether through volunteering, partnerships, or contributions, is invaluable in furthering our mission of social change. Together, let's create a better, more sustainable future.( Together, let's shape a future that is better and more sustainable." )
For inquiries, collaborations, or to learn more about our CSR initiatives, please contact us at [Contact Information].