Corporate Social Responsibility
(CSR) POLICY For PERSONIV CONTACT CENTERS INDIA PRIVATE LIMITED
(Formulated as per provisions of Section 135 of Companies Act, 2013 and rules made thereunder).
1.1. Company’s Philosophy on CSR Policy
Companies Act, 2013 has formally introduced the Corporate Social Responsibility to the dash board of the Indian Companies. Personiv Contact Centers India Private Limited is much positive and appreciate the decision taken by the Government of India. Legal framework of CSR is an edge to Corporate Charitable/reformative approach towards the Society to which the Corporate is belonging to. By introducing the separate section for CSR in Companies Act, 2013, the Government has given legal recognition to their community development approach. The management of the Personiv Contact Centers India Private Limited expresses its willingness and support to the CSR concept, its legal framework and shall be abided to it.
1.2. CSR in India
Corporate bodies’ involvement in CSR activities is not a new concept in India. Industrial majors are engaged in social development activities since long back. However, the Companies Act, 2013 has brought it under the legal purview. The concept of CSR is introduced through “Comply-or-Explain” mandate. It mandates qualifying companies to constitute Corporate Social Responsibility Committee to effectively monitor CSR activities of the Company. Further the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as “the CSR Rules”) lay down the framework and modalities for carrying out CSR activities which are specified in Schedule VII of the Act.
2. Objective and Scope
The main objective of the CSR Policy is to lay down guidelines for Personiv Contact Centers India Private Limited (hereinafter referred to as ‘the Company’) to make CSR as one of the key focus areas to adhere to Personiv Contact Centers India Private Limited’s global interest in education and improving society that focuses on making a positive contribution to society through effective impact and sustainable development programs.
This Policy covers the proposed CSR activities to be undertaken by the Company and ensuring that they are in line with Schedule VII of the Act as amended from time to time. It covers the CSR activities which are being carried out in India only and includes strategy that defines plans for future CSR activities.
2.2. Scope & Coverage
The CSR activities of the Company shall include, but not limited to any or all of the sectors/activities as may be prescribed by Schedule VII of the Companies Act, 2013 amended from time to time. Further, the Company will review the sectors/activities from time to time and make additions/ deletions/ clarifications to the above sectors/activities.
3. Corporate Social Responsibility (CSR) Committee
Pursuant to the provisions of Section 135 of the Act, the Board of Directors shall constitute the Corporate Social Responsibility (CSR) Committee. The Members of CSR shall be appointed by the Board of Directors of the Company which must consist of at least two or more Directors. Accordingly, the constitution of CSR Committee formed by PERSONIV CONTACT CENTERS INDIA PRIVATE LIMITED is as follows:
|S. No.||Name of the Member||Designation In Committee||Designation In Company|
|2||Hitesh Sohanlal Jain||Member||Director|
|3||David Alan Lesniak||Member||Director|
3.2. Functions and Powers of Committee
To effectively implement the objectives of the Company with respect to CSR, the Committee is vested with the following functions and powers:
- Formulate CSR Policy and recommend the same to the Board of CSR Committee
- Recommend CSR activities as stated under Schedule VII of the Act
- Recommend the CSR Budget
- Spend the allocated CSR amount on the CSR activities once it is approved by the Board of Directors of the Company in accordance with the Act and the CSR Rules
- Create transparent monitoring mechanism for implementation of CSR initiatives in India
- Submit the Reports to the Board in respect of the CSR activities undertaken by the Company
- Monitor CSR Policy from time to time
- Monitor activities/charter of Internal Working and Monitoring Group (WG) who are authorized to ensure that the CSR activities of the Company are implemented effectively
- Authorize executives of the Company to attend the CSR Committee Meetings, if necessary
3.3. Meetings of the Committee
For smooth functioning of the Committee, the members shall meet as below to discuss such matters and to take such decisions as may be necessary:
- The CSR Committee shall hold the CSR committee meets as it deems necessary.
- The members of the Committee may mutually agree between them regarding time and place for the said meetings.
- The quorum for the CSR Committee Meeting shall be one-third of its total strength (any fraction contained in that one-third be rounded off as one) or two members, whichever is higher.
- The Members of the Committee may participate in the meeting either in person or through video conferencing or other audio-visual means as may be convenient.
- No sitting fee shall be given for attending the meeting.
- the CSR committee may invite executives, advisors, representatives of Social organizations, Auditor of the company and such other person (s) as it may consider necessary to attend meeting.
4. CSR Spend
The Companies Act, 2013 prescribes that the companies which meet the criteria specified under Sec. 135 shall allocate certain portion of its annual net profits (calculated as per Sec. 198) during the three immediately preceding financial years to be spent on CSR Activities that fall under the categories specified under Schedule VII of the Act.
4.1. CSR Expenditure
Net profit for the purpose of allocation towards CSR means profit more fully described under Rule 2(f) of the CSR Rules. The CSR expenditure shall include all expenditure including contribution to corpus or on projects or programs relating to CSR activities approved by the Board of Directors on the recommendation of its CSR Committee but does not include any expenditure on an item not in conformity or not in line with activities stated under Schedule VII of the Act.
4.2. Failure to spend the CSR Money
If the Company fails to spend the required amount in a particular financial year, it is the duty of the Committee to submit a report in writing to the Board of Directors specifying the reasons for not spending the amount, which in turn shall be reported by the Board of Directors in their Annual Report pertaining to that particular Financial Year.
Surplus, if any, arising out of the CSR projects or programs or activities shall not form part of the business profit of the Company.
5. CSR Initiatives
Pursuant to Schedule VII of the Act and the CSR Rules, the Company shall undertake CSR activities included in its Annual CSR Plan, as recommended by the CSR Committee at the beginning of each year. The Committee is authorized to approve any modification to the existing Annual CSR Plan or to propose any new program during the financial year under review.
5.1. Annual CSR Plan
The Annual CSR Plan is a yearly plan of CSR activities that would be placed before the Board of Directors of the Company based on recommendation of its CSR Committee which outlines inter alia the following aspects of CSR initiatives of the Company:
- Project Proposals
- Targeted Beneficiaries and their key needs
- Alignment with Schedule VII
- Project Goals and milestones
- Activities and Timelines including expected closure dates
- CSR Budget with projections
- Monitoring mechanism
- Progress reporting and frequency of reports
- Risks and mitigation strategies
- Any other information as may be required by the CSR Committee
It is expressly allowed under the CSR Rules that the Company may collaborate with any other Company or association formed in this regard subject to approval by CSR Committee, to implement CSR activities and the same shall form a part of the Annual CSR Plan.
6. Reporting and publication of CSR policy
As per the CSR Rules, the contents of the CSR Policy shall be included in
- the amount required to be spend;
- the amount spend;
- if company fails to spend the amount than specify reason for not spending the amount etc.
7. Monitoring Mechanism
An Internal Working and Monitoring Team comprising of below mentioned employees of the Company will be set up to ensure effective implementation and monitoring of the projects approved by the CSR Committee from time to time. The team will consist of:
- Ms. Garima Nandwani
- Mr. Vishal Bora
- Mr. Nipun Thapar
- Mr. Madhur Bhayana
- Mr. Hemant Verma
For Personiv Contact Centers India Private Limited
Date:16/10/2019 Place: Gurgoan