KIMS CSR Policy
With effect from April 1, 2014, every company, private limited or public limited, which either has a net worth of Rs 500 crore or a turnover of Rs.1,000 crore or net profit of Rs 5 crore, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility activities. The CSR activities should not be undertaken in the normal course of business and must be with respect to any of the activities mentioned in Schedule VII of the 2013 Act.
KIMS, is a corporate entity committed to serve the people by provision of healthcare in line with our mission statement: Care with Courtesy, Compassion and Competence. Our strategic Corporate Social Responsibility (CSR) initiatives are based on social and environmental consequences and at the same time, due consideration is given to the interests of its stakeholders including shareholders, customers, employees, suppliers, business partners, local communities and other organizations.
The key objective of this policy is to:-
• Define what CSR means to us and the approach adopted to achieve our goals
• Define the kind of projects that will come under CSR
• Identify broad areas of intervention in which the company will undertake projects
• Serve as a guiding document to help execute and monitor CSR projects
• Budget the expenditure for CSR activities for the year
• Explain the manner in which the surpluses from CSR projects will be treated
3. Policy Statement:
The CSR Policy of KIMS focuses on addressing social, environmental and economic needs of the marginalized/ underprivileged sections of the society. Through this policy, we align our CSR strategy with the company’s vision and goals. We adopt an approach that integrates the solutions to these problems into the strategies of the company to benefit the communities at large and create social and environmental impact.
4. Scope of CSR activities:
We classify only those projects that are over and above our normal course of business as CSR. The scope of CSR will not only have a wide impact on the society and community at large, but will also remain committed towards sustainable development and inclusive growth. This policy applies to all our CSR projects and will be further reviewed and updated.
The CSR Committee of KIMS will consist of three Directors of the Company and one Advisory Member – Dr.M.I.Sahadulla, Mr.E.M.Najeeb, Mr.K.Jalaludeen and Mr.G.Vijayaraghavan. The responsibilities of the CSR Committee include:
a) Formulate and recommend to the Board, a CSR Policy which shall indicate the activities to be undertaken, as specified in Schedule VII of the Companies Act 2013.
b) Recommend the amount of budgeted expenditure to be incurred on the activities referred to in clause 5 a) above.
c) Monitor the CSR policy and activities of the company on a quarterly basis.
d) Approve projects/activities of value which are outside the gambit of Schedule VII
6. Key focus areas:
The chosen KIMS CSR projects for 2014-15 relating to activities specified in Schedule VII of the Companies Act, 2013:
· Promoting preventive healthcare
· Employment for persons with disability (PWD)
· Promotion of gender equality and empowering women
· Setting up and providing facilities for Old-age Homes
· Ensuring environmental sustainability
· Promoting education
· Others, as may be identified in the future
7. Identification of projects:
Any new projects and activities of CSR will be appraised by the sub-committee and screened before submission for approval to the CSR Committee. The sub-committee will consist of Ms.Vasuki Devadas, Sr Manager-CSR, Mr.Iqbal, Director-SS, Ms.Harifa, Group Head Finance & Accounts and Mr.Jerry Philip, Group Head Healthcare Operations.
8. CSR Budget:
The total budget for the CSR projects will be decided by the CSR Committee. The Companies Act, 2013 stipulates that at least 2% of the average of net profits of the company made during the three immediate preceding financial years shall be earmarked as CSR budget.
9. Treatment of Surpluses:
Any surplus generated from CSR projects will be tracked and channelized into the CSR corpus. These funds will be further used in development of the CSR projects and will not be added to the normal business profits of the company.
Be a Part
Together we can make a better tomorrow, write to us at firstname.lastname@example.org or Contact CSR
Kerala Institute of Medical Sciences
P.B. No. 1, Anayara
Trivandrum – 695029
Kerala – India