The amount to be spent for CSR can be deposited in the public infrastructure reconstruction fund established by the government.
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The Nepal Insurance Authority has instructed the insurance companies to deposit the amount to be spent for Corporate Social Responsibility (CSR) in the public structure reconstruction fund established by the government.
Insurance companies also have to spend at least one percent of their profits on CSR. The said amount The authority said to deposit in the reconstruction fund . The authority has said that this directive is voluntary and not mandatory. Companies will get tax exemption for the amount deposited in the reconstruction fund.
Due to the loss of many lives in the protest of August 23rd and the demonstration on August 24th, the insurance companies have received a large amount of insurance claims . For this reason, the insurance authority has said that insurance companies have been made voluntary without mandatory arrangements.
