What is the Applicability of Corporate Social Responsibility for Private Limited Company?

What is the Applicability of Corporate Social Responsibility for Private Limited Company?

Corporate Social Responsibility is mostly the concept of Trusteeship. Corporate Social Responsibility is needed for all companies from private Limited company to limited companies.  For the development of the stakeholders, the Corporate Social Responsibility plays a vital role. When an entrepreneur had taken fund from the public, it should be returned back in the same condition as taken from them to run their business. Companies who have a net worth of 500 crore or more, and a turnover of 1000 crore or more, and the net profit of 5 crore or more are those companies who come under the applicability of Corporate Social Responsibility law.  If the amount to be spend for Corporate Social Responsibility does not outdo Rs. 50 lakhs, in that case there is no requirement for the formation of Corporate Social Responsibility, and the function of such committee can be held by the board of the company. The motive of Corporate Social Responsibility is to secure of some activity for the society. Eradicating poverty, hunger, availability of clean drinking water, special education for children, promoting gender equality, women empowerment, setting up of old age home, proper sanitation are some of the policies which fall under the Corporate Social Responsibility.

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