The full form of CSR is Corporate Social Responsibility. In simple words, it is a law in India for corporates to participate in activities that help upliftment of society or the needy in society.
Corporate Social Responsibility has become mandatory through the provisions under Section 135 of the Companies Act, 2013. Even some companies were actively participating in CSR activities way before it became the law in the country.
But all companies registered in India do not come under CSR, small-sized companies with very limited earnings are not obliged to spend on CSR.
Any private or public company qualifies for CSR with either of the below-mentioned points:
- Company with a net worth of Rs. 500 crores or more
- A company with a turnover of Rs. 1,000 crores or more
- If the company’s net profit is Rs. 5 crores or more during any financial year
- The companies who qualify for CSR have to spend a minimum of 2% of the average net profits made during the 3 immediately preceding financial years.
Providing safe drinking water, training to promote rural sports, nationally recognized sports, the establishment of public libraries or the establishment of orphanages and hostels are a few of the activities the companies can choose to be compliant with CSR.
Here is the list of top companies
|Company name||CSR spending in FY2021-22 (INR)|
|Reliance Industries Limited||1186 crores|
|HDFC Bank Limited||736.01 crores|
|Tata Consultancy Services Limited||727 crores|
|Coal India Limited||548.98 crores|
|Oil and Natural Gas Corporation Ltd. (ONGC)||472.292 crores|
|Tata Steel Limited||405.97 crores|
|NTPC Limited||356.72 Crores|
|ITC Limited||351.13 crores|
|Infosys Limited||344.91 crores|
|Power Grid Corporation of India||271.13 crores|
|ICICI Bank Limited||266.62 crores|
|Wipro Ltd.||221.6 crores|
|HCL Technologies Ltd.||216.33 crores|
|GAIL (India) Ltd||204.97 crores|
|State Bank of India||204.10 crores|
|JSW Steel||200.34 crores|
|Housing Development Finance Corporation Limited||194.03 crores|
|Hindustan Zinc Limited||173.38 crores|
|Hindustan Unilever Limited||157.58 crores|
|Bharat Petroleum Corporation Limited||137.78 crores|
|Larsen & Toubro Ltd.||135.68 crores|
|Axis Bank Ltd.||113.37 crores|
|Maruti Suzuki India Ltd.||100. 7 crores|
|Bajaj Finance Limited||60.01 crores|