Udayavni Special

Cos spending on COVID jabs for individuals except staff to be considered CSR activity


PTI, Aug 1, 2021, 2:41 PM IST

New Delhi: Companies spending funds on COVID vaccination for individuals other than employees and their families will be considered as a CSR expenditure. The corporate affairs ministry, which is implementing the Companies Act, 2013, has issued a clarification in this regard. In March 2020, the ministry had said that spending on COVID-19 would be considered as a Corporate Social Responsibility (CSR) activity. “… it is further clarified that spending of CSR funds for COVID-19 vaccination for persons other than the employees and their families, is an eligible CSR activity,” the ministry said in a circular on July 30. The activity is eligible to be considered as a CSR work under Section VII of the Act relating to promotion of healthcare, including preventive healthcare and pertaining to disaster management.

“The companies may undertake the aforesaid activity subject to fulfillment of Companies (CSR Policy) Rules, 2014 and the circulars related to CSR issued by this ministry from time to time,” the circular said. Under the Act, certain class of profitable companies are required to spend at least two per cent of their three-year average net profit towards CSR activities in a particular financial year.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Bengaluru: Three killed, 2 injured in blast

PM CARES Fund not government fund; functions with transparency: HC told

PM CARES Fund not government fund; functions with transparency: HC told

Petitioner fined Rs 50K for filing PIL with ‘intention of enmity’

Man arrested for spreading communal messages through WhatsApp ahead of Bhabanipur bypoll

”Women should not be allowed to work late hours” BJP MLC’s statement sparks controversy

Microsoft recruits 35 MIT students with Rs 44 lakh salary package

Related Articles More

Sensex rallies over 450 pts in early trade; Nifty tops 17,650

OYO to file for up to USD 1.2 billion-IPO next week

Air India CMD Rajiv Bansal becomes Civil Aviation Secretary

Flipkart launches ‘Flipkart Xtra’, aims to create over 4,000 jobs this festive season

Zee Entertainment, Sony Pictures Networks announce merger; Punit Goenka to lead new entity

MUST WATCH

Hundreds of fish killed; Sewage and pollutants main culprits

Muslim-man-singing-iconic-mahabharat-title-song

Ayurveda, Allopathy & the Best System of Medicine

Woman Denied Entry at Delhi Restaurant For Wearing Saree

Monkey came away from 22 kilometer


Latest Additions

Bengaluru: Three killed, 2 injured in blast

Thidanadu: The ”matchmaker panchayat” of Kerala

Cochlear Foundation launches global partnership with Malala Fund to remove hearing loss as a barrier to education

Google files writ with Delhi HC against CCI after “leak” of confidential report

SP workers ”purify” places visited by UP CM Adityanath in Sambhal

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.