Corporate social responsibility policy

SMEClabs India Corporate Social Responsibility Policy

Corporate social responsibility policy As formulated by the Corporate Social Responsibility Committee of the Board of Directors of SMEClabs approved by its Board of Directors (revision dated 23rd December 2017)

ABOUT SMECLABS AND CORPORATE SOCIAL RSPONSIBILITY POLICY 

Corporate social responsibility policy SMEClabs is committed to improving the world we live in by creating, supporting, and nurturing programs and initiatives that serve local communities. Together with leading public and nonprofit institutions, SMEClabs has developed powerful programs to address needs in the communities it serves. The cities, towns and villages where SMEClabs has operations and where our employees live and raise their families are not just addresses to us – they’re our hometowns. By applying the same rigor and business tools we use in the workplace, SMEClabs builds programs that deliver results we can quantify: one community, one home, one teacher, and one student at a time.

OUR VISION

To become an internationally acclaimed leadership in innovative technology with global presence and training provider that becomes the final destination for recruiting good quality engineers. Accordingly, the Company believes in identifying corporate social responsibility projects that have optimal and sustainable impact on local communities, in the areas where the Company can leverage its strengths. As part of our commitment to social development, SMEC has initiated its ‘Engineers for the Future Project, Which aims to build leadership quality for emerging candidates from previously disadvantaged communities.

ENGINEERS FOR THE FUTURE PROJECT

SMEClabs promotes science and technical education to youth in and around our locations from economically-backward families by providing Technical and leadership training for academically qualified students.

IMPLEMENTATION
SMEClabs has set up a group to look into the actions of corporate social responsibility .The group will be the vehicle for deployment of its corporate social responsibility efforts in the country. The Company will initially be responsible for the implementation of projects with a focus on identified areas. Employees may voluntarily participate and/or contribute to the CSR activities of the Company. Once the Foundation has received applicable government approvals, the Company will contribute funds to the Foundation, which will then be responsible for the implementation of CSR activities and implement these projects either itself or in association with credible third party organizations.

MONITORING

The Corporate Social Responsibility Committee of the Company will monitor this Policy and the effectiveness of the programs implemented under this Policy. The programs and activities will be identified and approved by the Board of Directors of the Company.

BUDGET

For achieving corporate social responsibility objectives, the Company will initially allocate funds earmarked for such activities for implementation of programs either independently or jointly with third party organizations that meet the requisite expertise and credentials for the project(s). Once the Foundation receives requisite governmental approvals, it will implement programs, independently or jointly with the Company and / or with third party organizations that meet the requisite expertise and credentials for the project(s). Any surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of the Company and shall be used for CSR. This Policy is in conformity with the requirements laid down under the Companies Act, 2013.