Infosys Limited CSR Policy: A Comprehensive Overview
Infosys Limited, a pioneer in Corporate Social Responsibility (CSR) initiatives, has established itself as a leader in contributing to sustained economic, environmental, and social stewardship. Through the Infosys Foundation and collaborations with eligible entities, the company focuses on promoting sustainable development for a liveable future. Their CSR policies align with their mission to drive business growth while benefiting society at large.
Objective of Infosys’ CSR Initiatives
The primary objective of Infosys’ CSR policy is to foster sustainable development that balances economic, environmental, and social welfare. The focus is on improving the quality of life for communities by investing in areas that need critical intervention, such as:
- Health and Nutrition
- Education and Skill Development
- Environmental Sustainability
- Gender Equality
- Rural Development
- National Heritage Preservation
- Disaster Management
Infosys aims to create a long-lasting, positive impact by addressing the root causes of societal issues while also ensuring its business practices contribute to environmental sustainability.
Scope of CSR Activities
The scope of Infosys’ CSR activities is broad, covering multiple sectors and addressing various socio-economic challenges. Key areas of focus include:
- Health & Nutrition: Supporting healthcare initiatives and nutritional programs to improve the well-being of communities.
- Education: Promoting education for underprivileged groups through scholarships, infrastructure development, and quality learning materials.
- Rural Development: Enhancing the quality of life in rural areas through sustainable practices in agriculture, livelihood opportunities, and basic infrastructure.
- Environmental Sustainability: Fostering a greener environment by supporting renewable energy, afforestation, and waste management initiatives.
- Disaster Management: Offering relief and rehabilitation efforts in times of natural disasters, ensuring swift support to affected communities.
Payment Ratio for CSR Contributions
Infosys has adopted a payment ratio policy to ensure a consistent contribution toward its CSR initiatives. As per India’s legal framework for CSR under Section 135 of the Companies Act, Infosys dedicates at least 2% of its average net profits over the last three financial years to CSR activities. The company strives to surpass this threshold whenever feasible to maximize its societal contributions.
Required Documents for Partner NGOs
To partner with Infosys for CSR initiatives, NGOs and other eligible entities must provide specific documentation to ensure compliance and transparency. Required documents include:
- RC/COI/Trust Deed of the organization
- Bylaws/Memorandum of Association (MOA)/Articles of Association (AOA)
- NGO PAN Card
- NGO Darpan Registration
- 12A and 80G Certificates (for tax exemption)
- CSR-1 Registration
- Audited Balance Sheets for the last three years (FY 2021-2022, FY 2022-2023, FY 2023-2024)
- Income Tax Returns (ITR) for three years (AY 2022-2023, AY 2023-2024, AY 2024-2025)
- Annual progress reports and activity reports of the last three years
- Bank account details of the NGO
- Aadhaar and PAN card details of the authorized signatory
- NGO’s letterhead
- Contact details (email and mobile number)
- Signatures and stamps of authorized personnel
This documentation ensures the accountability of the entities involved and promotes transparency in the utilization of funds.
Sectoral Focus of Infosys CSR Policy
Infosys focuses on the following sectors under its CSR strategy:
- Health and Nutrition: Initiatives focused on improving public health, particularly in underserved communities.
- Education: Programs designed to enhance access to education and vocational training for marginalized groups.
- Rural Development: Efforts aimed at uplifting rural areas through sustainable farming practices, skill development, and infrastructure improvement.
- Environmental Sustainability: Projects aimed at tackling environmental issues such as climate change, deforestation, and pollution.
- Disaster Management: Provision of immediate relief and long-term rehabilitation for disaster-hit areas.
Tender Fees for CSR Projects
Although Infosys generally absorbs the financial burden of its CSR initiatives, specific tender fees might be applicable for NGOs or other entities applying for particular CSR projects. The fees vary depending on the nature and scale of the project but are typically kept low to encourage wide participation. The Infosys Foundation ensures that any fees charged are transparent and reflective of the project’s needs.
Last Date for Event Submission
Infosys regularly opens calls for project proposals, and while there may not be a fixed date applicable across all sectors, entities interested in partnering with Infosys should frequently check for updates. Infosys publishes tender notices on their official website or through specific channels, and it’s crucial to submit required documents before the deadline for consideration.
Conclusion
Infosys Limited’s CSR policy underscores the company’s deep-rooted commitment to giving back to society. Their contributions across sectors such as education, healthcare, rural development, environmental sustainability, and disaster relief reflect a holistic approach to corporate responsibility. By maintaining transparency through clear documentation requirements and tender procedures, Infosys ensures that its CSR activities are both impactful and aligned with its long-term vision for societal growth.
