Corporate social responsibility is a management concept where corporates integrate the environmental, social and ethical concerns into their core business model and strategy.
European Commission defines corporate social responsibility as “the responsibility of enterprises for their impacts on society”.
In India, Companies Act, 2013 mandate companies with a net worth of INR 500 crore or more, or an annual turnover of INR 1000 crore or more, or net profit of INR 5 crore or more, to spend 2% of their average net profits of three years on CSR.
