The main problem with human beings in today's world is the mindset of them being the central existence of the planet. People have stopped connecting themselves with nature or more importantly with the beings that are voiceless. It is this issue with the mindset of people to act according to one’s convenience or luxury that needs to change.
Corporate Social responsibility focuses on the recognition and acknowledgment of companies and big corporations that they have towards the environment and the society. It is this recognition of industries that have consumed large amounts of resources from the environment, addressing the need towards sustainability and better requirement of policies and developments towards the society. Corporate Social responsibility in its own is an extremely varied and wide concept with not just environment concerning strategies but also plans focusing on societal welfare and betterment . Under section 135 of Companies Act 2013 , establishes that companies that meet a certain bar to spend at least 2 percent of the net profit towards corporate Social responsibility activities. Fortunately , these acts have become even more attentive and important as the years have passed.
The registration process of corporate Social responsibility: A corporate organization is generally required to implement its csr policies through an agent which can be of different institutions such as a trust established by the company itself, one established by the government , entity confirmed under an act of parliament etc. The entities must satisfy certain conditions in order for the company to use it as its implementing agent . One of the most important factors for any form of agency is to be registered under section 12A and be approved under section 80A. The company is also required to procure a CSR registration number from MCA in accordance to rule 4(2). The projects that are to be undertaken by the company must be approved by the boards before the implementing agencies start working with them. Any form of restriction applicable to the company is automatically applied for the implementation agencies as well. Moreover, the company as well as the agencies are also required to possess written and documented files of projects undertaken by them.
Form Corporate Social Responsibility-1 is a mandatory registration form that needs to be filled by the implementing agencies. The form is divided into two parts, the first part consists of the details of the agency and the second ensures proper certification. The form CSR-1 requires a fee of Rs. 2499, however, it may differ in accordance to the chairperson's valid DSC.
When it comes to the role of CAs in respect to companies and csr activities, they have gained a new set of responsibilities. Companies from being focused on profit based net worth, now require to commence with a social Responsibility as well. Hence , there is a major requirement of CAs working in a much more transparent manner with effective accounting of finances.
CAs are the first people to get approached when there is a consideration of new mechanisms or policies. They are the guides for structuring policies and handling changes in contracts as well as plans. Furthermore, in regards to CSR they have the crucial responsibility to align strategies and goals for financial growth as well as social growth. CAs are also required by companies to provide a written and properly assessed report which include financial statements as well as CSR initiatives in accordance with the company. Therefore, CAs are the major part of every company. They are the policy structures and are extremely necessary for strategies and schemes proposed for different purposes.
They have the major duty of regulating the company’s financial decisions in regards to sustainability with legitimate approaches and activities.
The initiatives for corporate social responsibility have become and will become even more necessary with the coming time. It is only through integrated initiatives as well as introspective approaches that the whole world can look forward to a better future. It is the duty of human beings to redeem the world of its losses generated due to their actions.
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Two or more persons can associate for carrying out any lawful business with a view to profit.
They have to file incorporation document, containing prescribed details like name, proposed business, address of registered office, name and address of partners, name and address of designated partners and other information as may be prescribed by rulesIncorporation documentFor a limited liability partnership to be incorporated –(a) two or more persons associated for carrying on a lawful business with a view to profit shall subscribe their names to an incorporation document(b) the incorporation document shall be filed in such manner and with such fees, as may be prescribed with the Registrar of the State in which the registered office of the limited liability partnership in India is to be situated; and(c) there shall be filed along with the incorporation document, a statement in the prescribed form, made by either an advocate, or a Company Secretary or a Chartered Accountant or a Cost Accountant, who is engaged in the formation of the limited liability partnership and by any one who subscribed his name to the incorporation document, that all the requirements of the LLP Act and the rules made thereunder have been complied with, in respect of incorporation and matters precedent and incidental thereto – section 11(1) of LLP Act.Procedure for Incorporation of LLPTwo partners to be designated as ‘designated partners’ should apply and get DIN (Director Identification Number) from Central Government by applying electronically in form No.
7 and subsequently sending physical forms.The designated partners should obtain Digital Signature Certificate (DSC) Class II or above from a Certification Agency (CA).User registration – Register DIN and DSC with LLP by visiting www.llp.gov.in.Check name availability which is available on the aforesaid websiteApply for reservation of name in form RUN-LLP.
Alternatively, application for reservation of name can be made along with incorporation document in form FiLLiP [Form for incorporation of LLP registration online]After obtaining reservation of name, fill up form FiLLiP [Form for incorporation of Limited Liability Partnership] It has to be digitally signed by designated partner and a professional (advocate/practising CA/CS/ICWA).
Upload the form and pay fees electronically.LLP will be incorporated by ROC and registration certificate will be granted by Registrar of Companies (ROC) in form No.
16File form 3 (Information with regard to LLP Agreement) and form 4 (Notice of appointment of partner/designated partner) electronically with fees.
