CSR (Corporate Social Responsibility)
Prescient Technologies Private Limited (Prescient) understands the need of corporate contribution for sustainable economic development thorough education, women empowerment, health conditions of children in rural area who are deprived of basic health facilities and vocational training to underprivileged.
Prescient is strong believer in the concept of social responsibility and the desire to do good work does not end with the services rendered by the Prescient. Prescient has committed itself to serving the nation through its core values and involvement with the local community in the overall development.
Delivering value to society and improving the standard of living of our people and those in surrounding areas is very important to Prescient. Prescient has always believed that its success is tied to the wellbeing of the communities where we do business and society at large is benefited.
Prescient will undertake its CSR activities as mentioned in Schedule VII of the Companies Act, 2013; Further, Prescient has crafted its CSR activities; viz.
- Promoting education, including special education and employment enhancing vocational skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
- Promoting gender equality, empowering women, setting up homes and hostels for women and orphans, setting up old age homes, day care centres, and such other facilities for senior citizens and measure for reducing inequalities, faced by socially and economically backward groups.
- Improving child health through health check-up programs, awareness and training especially from underprivileged area.
- And prompting all such other activities may be prescribed in the Schedule VII of Companies Act 2013.
CSR activities shall be implemented through the Company’s dedicated teams including employees who are part of CSR projects, through associate volunteering. Prescient may work with NGOs, Trusts, Government Bodies, Educational Institutions, Other Corporates & Industry Associations and other suitable implementing organizations as implementing partners for its CSR programs.
The operational procedure will be aligned to the requirements of section 135 of the Companies Act 2013. Proposals for new CSR activities, as and when received, shall be evaluated in terms of appropriateness and alignment with of the CSR policy of Prescient. On clearing the evaluation process, the same shall be put up to the CSR Committee for approval.
As per the CSR policy, a budget for the approved projects and the projects in the pipeline shall be placed before the CSR Committee for approval and thereafter its performance will be placed for evaluation and review.
The corpus for the purpose of carrying on the aforesaid activities would include the followings
- 2% of the average Net Profit made by the Company during immediately preceding three Financial Years
- any income arising there from
- surplus arising out of CSR activities carried out by the company and such surplus will not be part of business profit of the company
Prescient has structured its own CSR Regulations; the CSR team will provide regular progress report to the CSR Committee established by the Board.
This report would indicate:
- Achievement since last progress report / during the last quarter in terms of coverage compared to the target and reasons for variance.
- Achievement of the year-to-date in terms of coverage compared to the target, plans to overcome shortfalls if any and support required from the CSR Committee/Board to overcome the shortfalls.
- Actual year-to-date spends compared to the budget and reasons for variance.
- In respect of activities undertaken through Trust/Society/NGO's etc. there will be mechanism of monthly reporting of progress on each such activities and the amount incurred thereon.
CSR Committee will place before the Board, CSR performance report at least once a year.
Name: Deepti Waghmare, Director - Legal, HR & Admin
Address: B-507, 4th Floor, Teerth Technospace, Off Mumbai-Bangalore
Highway, Baner, Pune - 411045
Tel: 020 66477900