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MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 26th May, 2020 G.S.R. 313(E). - In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendment to Schedule VII of the sai
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FAQ :
The Ministry of Corporate Affairs has added the PM CARES Fund to Schedule VII of the Companies Act, 2013.
Schedule VII of the Companies Act outlines eligible activities for corporate social responsibility (CSR) spending.
It means that contributions to the PM CARES Fund are now officially recognised under the Companies Act for CSR purposes, alongside the Prime Minister's National Relief Fund.
This amendment is deemed to have come into force on 28th March 2020.
The funds mentioned are the Prime Minister's National Relief Fund and the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund).
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