Having touched millions of people through their CSR efforts, TCS follows a unique purpose-driven approach towards community services that are also shared by its employees. A global leader in technology and consultancy, the company has invested Rs. 434 crore on various sustainable development programs.
As per the reports, the prescribed CSR allocation amounted to Rs. 542 crore, according to the company’s annual report of 2018-19. Including overseas spending, the Company’s total spending on CSR is Rs. 527 crore. TCS CSR fund activities help promote education and skill building, health and wellness, and environmental conservation (Impact through Empowerment).
CSR programs are focused on education and skill building, health and wellness, and the environment. The CSR projects undertaken are within the broad framework of Schedule VII of the Companies Act, 2013. “As per section 135 of the Companies Act, 2013, the amount required to be spent by the Company during the year ended March 31, 2019, and 2018 is Rs. 542 cores and Rs. 497 crore, respectively, computed at 2% of its average net profit for the immediately preceding three financial years, on Corporate Social Responsibility (CSR),” the report said.
According to the report, “TCS incurred an amount of Rs. 434 crore and Rs. 400 crore during the year ended March 31, 2019, and 2018, respectively, towards CSR expenditure for purposes other than construction/acquisition of an asset.”
A sizeable proportion of TCS CSR funding is expected to be directed to Tata Trusts, aligning with Ratan Tata’s aim for a unified philanthropic program. Apart from Tata Trusts, TCS will also partner with Tata NGOs and various non-profit organizations to commence social programs. The company’s people-centric investments portfolio has been benefiting hundreds of thousands of people across the globe.