About TaeguTec

CSR Policy

CORPORATE SOCIAL RESPONSIBILITY PLAN FOR COMPLIANCE WITH REQUIREMENTS OF COMPANIES ACT,2013

1. APPROACH TO CSR

We at TaeguTec (TTIL) have been committed to the concept of corporate social responsibility much before it became mandated by law. In fact, Ethics & Social Responsibility was envisioned and enlisted by TTIL as one of its six core values, along with Innovation, Performance Excellence, Trust, Caring for People and Collaboration.

As a medium-sized company, we cannot claim a massive community outreach, but our commitment to our select CSR goals has remained steadfast in the thirteen years of our existence. We aspire to a community and country that allows for all-round development of its children and equal opportunity for its youth. In addition to our focus areas of Education and Employability, Environmental Sustainability is also very high on our priorities.



2. CSR VISION

Make a positive impact on society and environment with particular focus on education and employability of underprivileged sections of society.



3. CSR MISSION

  • Education and Development: Strive to promote learning, education and all round development of rural and under-privileged children and work towards improving basic infrastructure in needy schools.
  • Employability: To contribute to skills’ enhancement and thus employability of underprivileged youth in order for them to be able to enter the mainstream workforce of the country, and compete with the best.
  • Environment: Committed to a model of sustainable growth and development through wasteelimination, recycling, and optimum utilization of resources.


4. ACTION POINTS FOR THE FULLFILLMENT OF VISION AND MISSION:

Education and Employability:

    a. Work in areas of education, training and skill development with a particular focus on underprivileged children/youth which will result in enhancement of their employability.

    b. Extend financial support to select organizations who have impeccable credibility and integrity, and who are already doing excellent work in our chosen area of CSR.

    c. Engage our employees in supplementing some of the efforts of our CSR partner organizations. We believe this will lead to holistic development of our employees, channel their youthful energy and also add impetus to our CSR goals.

    Environment & Sustainability Initiatives:

      a. Undertake projects which will cause our business operations to leave little or no impact on environment, and also spread awareness in the society about caring for the environment.



    5. FORMATION AND ROLE OF CSR COMMITTEE

      a. The CSR Committee is constituted and duly approved by the Board of Directors of the company. It consists of two directors (including one independent director) and the Managing Director of the company.

      b. The CSR Committee, considering the CSR Vision and Mission, shall formulate a medium term plan which shall be the basis for the planned course of CSR Action for the company.

      c. In line with the medium term plan, the CSR Committee shall propose the CSR Action Plan for each financial year, finalize the CSR Financial Budget for the year and recommend names of CSR Partners with whom the company would work in close coordination to ensure that the CSR goals of the company are achieved.

      d. The CSR Committee would put in place a Review Mechanism to review progress made on the various CSR Projects undertaken by the company.

      e. The Committee would also empower employees at suitable levels in the company to execute the CSR Action Plans for each financial year.



    6. GUIDELINES FOR SELECTION OF CSR PARTNERS

    The CSR Committee shall consider following factors/parameters which shall form the basis for recommendation and selection of CSR partners.

      a. The organization should be headed or managed by persons of impeccable integrity and proven track record of service to society in their chosen area of work.

      b. In order to avoid conflict of interest and also minimize the effect of influence and other factors, it is preferred that the select organization should not have affiliation to political parties nor be headed by individuals who are actively involved in political activities, bureaucracy etc.

      c. The organization’s programs should be directed towards benefit of needy sections of society without discrimination based on caste, creed or religion.

      d. The organization should have a low ratio of administrative cost/overheads to total collections, thus demonstrating its purposefulness and commitment to meet its desired goals.

      e. The CSR Partners who are selected shall be engaged by the company for a reasonable tenure so that benefits and positive impact of such engagement can be monitored on regular basis.

      f. The CSR partners should have a registration certificate and FCRA number as per section 6(1) of the Foreign Contribution Regulation Act,2010.



    7. CSR BUDGET AND MONITORING MECHANISM

      a. The CSR Committee shall fix the CSR Budget for each financial year after considering the past performance of the company, as stipulated.

      b. The CSR Committee will meet at such fixed intervals to review progress made on CSR Projects.

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