PM Cares Fund Vs PM Relief Fund | About CSR
In the fight against COVID-19, PM Cares- Prime Ministers Citizen Assistance and Relief in Emergency Situations Fund was created on March 28th, 2020 for combatting against the coronavirus outbreak and similar pandemic situations in the future. Presently, you could see most of the corporate companies, Bollywood actors, cricketers flooding money towards PM cares: Why not to the PMNRF? Why not to the CM relief Fund? To know in brief, cling on!
What is PM Cares Fund?
It is widely used as a donation platform, the minimum amount accepted is from Rs.10. Any contribution made under this fund before June 20 includes a 100% tax exemption under Income Tax Act. It would also be considered as a part of Corporate Social Responsibility.
About Corporate Social Responsibility
This Act was first introduced by India during the year 2013-14, a company with a certain turnover (500 Cr approx.) should contribute 2% to the CSR. It is mandatory. This is a management concept , where the companies integrate social and environmental concerns in their business operations.
The Difference between PM Cares & PM NRF is shown below,
|PM Cares||PM NRF (National Relief Fund)|
|The funds collected come under CSR Act||It doesn’t come under CSR Act|
|Introduced by our Honourable Prime Minister Narendra Modi at 2020||Introduced by Shri Jawaharlal Nehru at 1948,|
|The committee members of PM cares are Prime Minister, Finance Minister, Defence Minister, Home Minister, Further can accommodate 3 experts to the committee of trustees.||After 1985 during the Rajiv Gandhi period, this fund was wholly directed only under the prime minister’s direction. As a single Authority.|
|Minimum donation accepted is from Rs.10||Minimum donation accepted is Rs.100|
|It comes under the RTI act. (Not clearly known)||It comes under RTI act|
|Does come under the Tax Exemption act||Does come under the Tax Exemption act.|
So far, PM cares have got Rs.6500 crores donation in a week, which is 3 times greater than PM NRF got in 2 Years. The fund collected under PM Cares will be used to ramp up medical facilities, health care, and pharma facilities. Tata groups being the highest paid, have contributed Rs.1500 crore, Wipro & Azim Premji Foundation contributed Rs.1125 crores, Aditya Birla group Rs.500 crore, Reliance Industries have contributed Rs 500 crores and many more companies have done their part.
Some Well Known Indian Firms, Kodak group have contributed Rs.75 crores, Asian Paints contributed Rs.32 crores TVS Rs.35 crores and Patanjali Rs.35 crores.
About CM Relief Fund
It aims at providing immediate relief to the people who are in distress, the people affected by natural disasters will get benefited from this fund. This can be availed by the people who have health problems that are too serious and expensive, the person who has lost their family/kin or kith. The people who have lost their properties. It doesn’t come under the CSR act.
The main reason why they prefer PM cares is, it comes under the CSR act whereas PMNRF doesn’t. And it is mandatory that the companies have to contribute 2% to this act.
These kinds of Separate fund for COVID-19 would encourage people to contribute well due to this outbreak, everyone will feel for this cause and come forward to donate. At this moment, It’s our duty to contribute whatever we could, to this kind of Funds- CMNRF/PMNRF/PM CARES or any other nearby NGOs you know. Also, try to feed food for needy people and stray pets as much as possible.
If you people are interested to donate, click on
For PMNRF: https://pmnrf.gov.in/en/online-donation
Through BHIM UPI [For All kind of relief fund transactions ]
You must not lose faith in humanity,
Humanity is like an ocean;
If a few drops of the ocean are dirty,the ocean does not become dirty
– Mahatma Gandhi
To learn more, visit https://www.learndiversified.com/