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 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.
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.
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.
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.
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.
Patients are assessed by CSR Executive on the basis of financial background, support from government and other groups and frequency of admission. Sufficient documentation is collected and the request for discount is classified into Category A, B or C.