Statutory Boost

On 30th March 2020, MCA had appealed to certain companies to contribute generously to 'PM Cares Fund' and in that appeal, it was mentioned that excess amount of contribution, over and above the statutory requirement for FY 2019-20, can later be setoff against the CSR obligation arising in subsequent financial year.  Certain companies had claimed to have contributed CSR funds to the ‘PM CARES Fund’ over and above their prescribed CSR amount for FY 2019-20. Accordingly, MCA has clarified vide Circular dt. 20th May 2021  that the Companies who had contributed any amount to 'PM CARES Fund' which is above the statutory limit u/s 135(5) of the Companies Act, 2013 can offset such excess contribution amount against the amount required to be contributed for F.Y. 2020-21 u/s 135(5) of the Act subject to the following conditions : the amount offset as such shall have factored the unspent CSR amount for previous financial years, if any; the Chief Financial Officer shall certify th...

In view of COVID-19 pandemic, ESIC has provided a relaxation by extending due date of filing of ESI contribution for the month of Apr'21 from 15th May 2021 to 15th J une 2021. For official information, click  here. Feel free to contact in case of any query or consultation.          +91-7417634371

CSR funds  for setting up makeshift hospitals and temporary  COVID care facilities  is an eligible CSR activity under item nos.  (i) and (xii) of schedule VII of the Companies Act, 2013  relating to promotion of health care, including preventive health care, and, disaster management respectively. For official circular, click  here. Feel free to contact in case of any query or consultation.          +91-7417634371