There are many corporates running with various businesses, nationally and internationally with crores of profit. Such organisation has much influence in the society. They actually increase the economy of a country and have power to bring a social good cause. Apart from operating for business needs, it is also company's responsibility to take initiatives in environment and social welfare. To be involved in social welfare activities, it may incur short-term costs which will not let any financial loss or impact, but promotes their company efforts and involvement to bring positive social ad environment changes. Many companies are donating their time and money for many initiatives like conducting awareness programs, scheme, free service and many more sustainability programs for social welfare.
CSR is not a new concept in India. It is better if we understand the CSR rules and policies in India first. According to Section 135 and Schedule VII of the Companies Act 2013, the Ministry of Corporate Affairs has notified that Corporate Social Responsibility Policy Rules are mandatory for all the companies of private limited or public limited which has a net worth of Rs.500 crore or a turnover of Rs.1,000 crore or net profit of Rs.5 crore, needs to spend at least 2% of its average net profit for the direct preceding three financial years on CSR activities.
The CSR activity is not in to consideration if the contribution is for any political party or if the activities are carried outside India.
Companies to fulfil their CSR obligations include annihilating hunger, poverty, promoting preventive healthcare, education, nationally recognized Paralympic or Olympic and gender equality, setting up homes for women, orphans, ensuring environmental sustainability, protection of national heritage, measures for the benefit of armed forces veterans etc. However, to carry out CSR activities, preference would need to be given to the local areas around where the company operates.
If the company has a website, the CSR policy and activities of the company should be disclosed on their website.
In India many companies are putting their effort to elevate the levels in education, health, rural development, awareness programs, environment protection, employment etc even though few of the company's focuses shifted from charity to stakeholders, but still many Indian businesses engaged themselves considering CSR as not just another form of indirect expense, but a catalyst that protects their company reputation and increased business competitiveness.
NIST Institute Pvt Ltd have been involved in CSR activities, as we believe that already we are playing a much important role in adding up services for protecting many lives with our safety courses. CSR has improved the quality of life and made a significant difference to be noticed in the society. NIST which has taken enough responsibility to address social causes has stick to a voluntary commitment to contribute to social and environmental goals.
NIST is Asia's no1 safety course providing institute head-quartered in Chennai operating across the world with various branches. NIST alone has been operating in 9 locations in India where a donation activity was carried out in all branches of NIST for this 2014 Compassion day. For past few years, NIST has conducted blood donation camps and garments and money were donated for needy people.
NIST celebrated Global compassion day 2014 by serving free donations to the needy people and orphanages.
NIST was very much satisfied with the CSR activity actioned to serve poor people. NIST was not only proud of safe guarding lives in Industries, but also for supporting many lives with basic needs.