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Naveen seeks CSR contribution to CMRF

Thursday - June 14, 2018 3:24 pm , Category : BUSINESS
 Naveen seeks CSR contribution to CMRF
Naveen seeks CSR contribution to CMRF
Bhubaneswar June 14 (IANS) Odisha Chief Minister Naveen Patnaik on Thursday requested Prime Minister Narendra Modi for the contribution of Corporate Social Responsibility (CSR) funds to the Chief Minister s Relief Fund (CMRF) by amending the Companies Act 2013.
"The Odisha CMRF like that of other states uses its fund for various pro-poor activities " Patnaik wrote in a letter to Modi.
He said the Odisha CMRF has shown its generosity by providing relief to victims of natural disasters in other states and countries including Jammu and Kashmir and Nepal.
"Looking into the gamut of its activities it is felt that there is a need to augment the funds for CMRF. A number of eligible poor are still left unattended..."
Section-135 of the Companies Act 2013 and CSR Policy Rules 2014 mandate that from April 1 2014 every company private limited or public limited which either has a net worth of Rs 500 crore or a turnover of Rs 1 000 crore or net profit of Rs 5 crore has to spend at least 2 per cent of its average net profit on CSR activities.

--IANS cd/ksk/bg

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