CSR at Persistent
Persistent Systems recognizes its social obligations. In order to fulfill the Company’s Corporate Social Responsibility, Persistent Systems has been donating to the institutions, working primarily in the field of Health and Education since the financial year 1995-96. The Company earmarks 1% of the Consolidated Net Profit of the previous financial year for the purpose of donation in the subsequent financial year. To institutionalize the Corporate Social Responsibility initiative of the Company and to develop a systematic approach to administer the process of grant of donations, the Company formed a public charitable trust “Persistent Foundation” in 2008 – 09.
Persistent Foundation is primarily involved in three key areas of Healthcare, Education and Community Development. In the Healthcare area, the Foundation aims to establish or grant aid to hospitals, welfare centers and establish or grant aid to institutions for physically handicapped or mentally retarded persons. In education area, the Foundation aims to establish, support and grant financial assistance to schools, colleges, libraries, laboratories, and other institutions for the use or benefit of the students and run studentships and scholarships. On Community Development front, the Foundation aims to establish, maintain or grant aid to aged homes, orphanages for relief and help to needy and destitute people, establish and develop or grant aid to institutions which undertake welfare and rehabilitative activities for addicts, grant medical, monetary or other relief to assist relief measures for the relief of the needy victims, during natural calamities. Further, the Foundation aims to establish, maintain, grant aid for the establishment or maintenance of wells, tube wells, tanks, canals, dams, water reservoirs and plantation of trees for the use of public in general and to undertake projects of rural developments, village improvements in all possible manner.”