Clarification on contribution to PM CARES Fund as eligible CSR activity under item no. (viii) of the Schedule VII of Companies Act,2013

Last updated: 30 March 2020

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The Ministry of Corporate Affairs has issued a clarification regarding the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund). It has been confirmed that contributions made to the PM CARES Fund are eligible as Corporate Social Responsibility (CSR) expenditure. This is in accordance with item no. (viii) of Schedule VII of the Companies Act, 2013, which allows contributions to Central Government funds for socio-economic development and relief.

eF. No. CSR-05/1/2020-CSR-MCA GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th floor, A Wing, Shastri Bhawan, Dr. R.P. Road. New Delhi-110001 28.03.2020 OFFICE MEMORANDUM Subject: Clarification on contribution to PM CARES Fund as eligible CSR activity under item no. (viii) of the Sch

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FAQ :

The PM CARES Fund is a fund set up by the Government of India to provide assistance and relief in emergency or distress situations, such as the COVID-19 pandemic.

Yes, contributions made to the PM CARES Fund are now clarified as eligible CSR expenditure under the Companies Act, 2013.

Contributions are eligible under item no. (viii) of Schedule VII of the Companies Act, 2013, which covers contributions to funds set up by the Central Government for socio-economic development and relief.

The primary objective of the PM CARES Fund is to deal with any kind of emergency or distress situation.