CSR2Life is a digital platform that connects corporates intending to implement CSR projects with CSR implementation agencies such as Section 8 companies, registered public trusts, registered societies, entities established under an act of parliament or state legislature, and any other entity undertaking or implementing CSR projects. Other stakeholders, such as social impact companies and organizations undertaking need assessments and impact assessments, can also benefit from the platform.
CSR2Life provides a transparent and efficient process for implementing CSR projects. It connects corporates with CSR implementation agencies and provides a centralized location for all project-related information. The platform also streamlines the approval process and ensures that CSR funds are used effectively.
Corporates looking to implement CSR projects and CSR implementation agencies can use CSR2Life. Other stakeholders involved in CSR, such as social impact companies and organizations undertaking need assessments and impact assessments, can also benefit from the platform.
To sign up for CSR2Life, visit our website and register with your email ID. Once you have registered, you can log in using your user ID and password.
CSR2Life supports a wide range of CSR projects, including those related to education, healthcare, environment, and social welfare. The platform also allows for the implementation of projects related to need assessment and impact assessment.
CSR (Corporate Social Responsibility) spending has become a crucial aspect of modern-day businesses. Corporates have the responsibility to contribute to society by investing a certain percentage of their profits in CSR activities. However, several shortcomings in the CSR spending/implementation pattern have been identified. CSR2life.com is a digital platform that aims to address these shortcomings and provide a solution to ensure that CSR expenditure can be done effectively with a wider impact on society. Based on the report of the High-Level Committee and other data in the public domain, CSR2life.com has identified the following shortcomings in the CSR spending / implementation pattern:
a) Corporates though willing to spend the CSR amount but face obstacles in doing so due to the reasons as
- non-identification of suitable projects,
- delay in identifying suitable projects, or
- not having an in-house CSR team for implementation.
- Lack of expertise in handling various nuances of a CSR project may pose a challenge for corporates.
b) Disproportionate and location-based spending of CSR funds does not fulfill the larger need of the society or object of CSR expenditure. At present, only 15% of CSR expenditure is done in less developed states of the country, where 60% of backward districts are located. 70% of CSR expenditure is done in the most developed states of the country, where only 15% of backward districts are located.
c) Limited access of CSR prescribed amount to CSR Implementation Agencies, which operates at remote locations and in backward districts of the country, far from operation area corporates.
d) Limited Access of need-based Projects or projects with a larger impact in backward areas of the country to Corporates.
CSR2life.com has identified three different types of CSR spending patterns:
Location-based CSR spent: The CSR Committee's project selection criteria is focused on projects located in the areas where the corporate office or manufacturing unit of the company is located.
Market-based CSR spent: The CSR Committee's focus on the selection of projects in the area from where the company generates major revenue.
Needs-based CSR spent: Focus on the selection of projects in backward districts or areas, which need the project most.
The primary objective of CSR2life.com is to improve transparency in CSR expenditure and ensure that CSR funds reach the last needy person of the society through various CSR projects. By providing a transparent platform, CSR2life.com enables corporates to channelize their CSR funds judiciously and ensure proportionate spending based on needs, rather than location or market-based spending. Furthermore, CSR2life.com aims to provide a better selection of suitable projects and implementation agencies for corporates to invest in, by addressing the obstacles that prevent corporates from spending their CSR amount. By addressing shortcomings in the CSR spending/implementation pattern, CSR2life.com strives to ensure that CSR expenditure has a larger impact on society and fulfills the objective of CSR expenditure. The platform aims to connect corporates with need-based projects or projects with a larger impact in backward areas of the country, providing a wider impact on society.
CSR2life.com provides numerous benefits to corporates who are looking to invest their CSR amount in a meaningful and impactful way. Here are some of the benefits that corporates can avail themselves of by registering with CSR2life.com:
Yes, any company or organization can register voluntarily with CSR2life.com, even if they are not required to do mandatory CSR expenditure under Companies Act 2013.
Yes, any legal entity can register with CSR2life.com for voluntarily supporting need-based projects.
Voluntarily registering with CSR2life.com can provide several benefits to organizations, such as:
After registration with CSR2life.com, corporates can search and shortlist projects that they are interested in implementing through their CSR implementation agency. They can then download the project summary containing all the required information in a PDF format for discussion in their CSR committee and board of directors meeting.
Corporate can seek additional information for shortlisted projects by raising queries through their Corporate dashboard.
Corporate can subscribe for information on new projects uploaded in their interest area through their Corporate dashboard. CSR2life.com will email the new projects uploaded once a day or a week, and corporates can select the frequency of receiving this information.
Yes, corporates can view their CSR expenditure report and supporting documents submitted by their CSR implementation agency. Additionally, an independent audit of the CSR expenditure will be conducted, and the report will be provided to the corporate. CSR2life.com has a zero-tolerance policy against irregularities by CSR implementation agencies.
By registering with CSR2life.com, CSR Implementation Agencies located far from corporate operational areas can upload need-based projects suitable for any corporate in India for their CSR fund expenditure. This gives these agencies, even in remote areas, a platform to present their projects to the corporate world at large. Moreover, the uploaded project can be accessed by more than one corporate at a time, saving time and travel costs for submission from one corporate to another. CSR Implementation Agencies also get access to a dashboard that enables them to track project funding status and an interactive platform for communication with stakeholders. This transparent mechanism enhances skill and trust between the stakeholders.
Organizations that can register as CSR Implementation Agencies include companies established under section 8 of the Act, registered public trusts or societies, and entities established under an Act of Parliament or a State legislature.
Yes, CSR Implementation Agencies need to register with the MCA by electronically filing form CSR 1 and obtain Unique CSR Registration Number issued by the MCA.
Yes, a CSR Implementing Agency can update the Unique CSR Registration Number at a later stage, but as per CSR rules prescribed by the Government of India, they cannot undertake any project for implementation without obtaining the Unique CSR Registration Number from the MCA.
Yes, any person other than a CSR Implementing Agency can upload a project on CSR2life.com, but CSR funds can only be disbursed through CSR Implementation Agencies to maintain transparency in CSR expenditure and monitoring of CSR funds.
Yes, it is mandatory for a CSR Implementation Agency to upload expenditure reports and supporting documents of all CSR expenditure to be viewed / downloaded by the respective corporates on the CSR2life.com portal.
Expenditure reports and supporting documents should be uploaded by CSR Implementation Agencies to the dashboard to be viewed/downloaded by the respective corporates.
In such cases, the name of the CSR Implementation Agency will be forwarded to the MCA, Government of India, for irregularity and cancellation of their registration with them. The name will be blacklisted and displayed on the portal.
CSR2life.com shall appoint an independent auditor at the request of the respective corporates from the panel maintained by the platform for an audit of CSR expenditure. The CSR Implementation Agency must cooperate with the independent auditor and provide them with all required documents.
CSR2life.com firmly believes in end-to-end transparency in disbursement and utilization of CSR funds.
If irregularity is observed against a CSR Implementation Agency, their account will be deactivated, and their name, along with the registration number with MCA, will be published on the portal. Details shall be reported to MCA for appropriate action after following the internal process by CSR2life.com.
Yes, CSR2life provides support in preparation of project reports. Guidelines for Preparation of Project Report