CSR in India – The only mandatory CSR law in the world thus far was passed by the Indian parliament in 2013 as Article 135 of the Companies Law. According to that bill, all firms with a net worth above 5 billion rupees (approx. $75 million), turnover over 10 billion rupees (approx. $150 million), or net profit over 50 million rupees (approx. $750,000) are required to spend at least 2% of their annual profits (averaged over three years) in CSR. The law requires that all businesses affected establish a CSR committee to oversee the spending. Prior to this law’s passage, CSR laws applied to public sector companies only. More Info
Types of Companies
Sole Proprietorship, also known as a trader firm or proprietorship, is a business form that is owned and run by one individual. A sole proprietor may use a trading name or business name other than his or her name.
HUF (Hindu Undivided Family) are businesses owned by a joint family belonging to Hindu religion. Even though Jain and Sikh families are not governed by Hindu law, they can still form an HUF.
Private Limited Company (Pvt Ltd) may have 2–200 shareholders; shares are held privately and cannot be offered to the public.
Small company – A company other than a public company whose paid-up share capital is not more than ₹50 lakh and turnover does not exceed ₹1 crore.
Public sector undertaking (PSU) – It may be a public limited company listed on stock exchanges with major ownership by a state government or a central government of India or it may be unlisted entity with major ownership by a state government or a central government of India. Some of these entities are formed as business entities through special legislation, where these entities are governed by the statutes of these legislation and may or may not be governed by company laws like a typical business entity.
One-person company – It is a type of private company which can have only one director and member. More Info