Policy on CSR
corporate social responsibility policy
Philosophy & Objective:
In Khadim’s we firmly believe that a business can only be successful if we understand our responsibility and accountability towards the environment and society at large in which we function.
Discharging social responsibility is a continuous process and can be carried out through various forms and structures. Khadim’s has always been conscious about its responsibility towards the society and environment. To this end, several initiatives were taken during the preceding years which included replacing plastic bags with non-woven carry-bags to reduce environmental impact, minimizing the use of power at every level to improve energy efficiency.
Moreover, the Company is working together with the skill developments institutes to create employment opportunity for the youths below poverty line.
The main objective of CSR Policy at Khadim’s is to lay down guidelines for Corporate Social Responsibility activities of the Company and undertake various social initiatives that complement corporate mandate and benefit the communities in the surrounding areas.
In accordance with the primary CSR philosophy and the specified activities under the Companies Act 2013, read with Companies (Corporate Social Responsibility Policy) Rules, 2014 and any amendment(s) thereto or modification thereof, the activities to be undertaken by Khadim’s may include the following activities / projects –
- eradicating hunger, poverty and malnutrition, promoting healthcare including preventive health care and sanitation and making available safe drinking water.promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects.promoting gender equality, empowering women, setting up homes and hostels for women and orphans, setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water.protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art, setting up public libraries, promotion and development of traditional arts and handicrafts.training to promote rural sports, nationally recognised sports, paralympic sports and Olympic sports.contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women.contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Govemment.rural development projects.slum area development.
Ceiling Limit :
The CSR spends of the Company, in every Financial Year, shall be at least 2% of its average net profits during the three immediately preceding financial years in accordance with the provisions of section 198 of the Companies Act, 2013 or such amount, as approved by the Committee / Board.The total CSR spends will form a part of the Annual Operating Plans, in accordance with the goals and priorities identified by the CSR Committee from time to time as per the CSR Policy.
Monitoring and Review:
The Company has already formed a CSR committee, the Committee shall inter-alia focus on establishment and review of corporate social responsibility policies and programs and oversight and implementation of corporate social responsibility compliance systems. The Committee will regularly report to the Board on all significant matters it has addressed and with respect to such other matters that are within its responsibilities
The modalities for execution of the CSR activities and implementation schedule / monitoring process of projects / programs may be prescribed by CSR Committee from time to time.
The above CSR programs and / or activities are illustrative in nature. Additional programs and / or activities can be identified through review, evaluation and assessment by the CSR Committee as and when required, as per the provisions of the Companies Act, 2013 and the Corporate Social Responsibility Rules, 2014, as amended, from time to time.
Any surplus arising out of CSR projects or programs or activities shall not form part of the business profit of the Company.
The above referred illustrative activities, events and / or any such other activity / event as may be identified by the CSR Committee would be project / program based, to the extent possible, in terms of the contemplation expressed in the Companies Act, 2013 and the Corporate Social Responsibility Rules, 2014, instead of being one-off events, donations etc.
The CSR Policy as aforesaid may be modified / amended as may be required from time to time.