PM Cares Fund

The Prime Minister’s Citizen Assistance and Relief in Emergency Situation (PM CARES) Fund was laid out remembering the need for having a committed asset in the country with its essential goal being to manage any trouble circumstance or crisis like the COVID-19 pandemic.

Giving help to the public impacted by the crisis or trouble circumstance in the country is their setup. PM CARES was enlisted as a public beneficent trust on 27 March 2020 under the Registration Act, 1908. 

Objective of The PM CARES Fund:

1. To help and embrace help or alleviation of any sort connecting with disaster or trouble, general wellbeing, or some other sort of crisis, either regular or man-made.
2. The help under the asset incorporates the upgradation or making of drug or medical care offices, subsidizing applicable examination, other essential frameworks, or some other sort of help.
3. To give awards of cash, render monetary help, or make such different strides towards the impacted populace is considered significant by the Board of Trustees of the asset.
4. To embrace whatever other such action that isn’t conflicting with the goals referenced previously.

Constitution of The PM CARES Fund:

The position of the ex-officio Chairman of the PM CARES Fund is held by the Prime Minister of India. The Minister of Home Affairs, Minister of Defense, Minister of Finance, and Government of India are ex-officio Trustees of the Fund.

The Chairman of the Board of Trustees, for example the PM, has the ability to assign three legal administrators to the Board of Trustees. They should be famous people in the field of examination, science, wellbeing, social work, policy management, regulation and charity.

Installment Modes via which Donations can be Made To PM CARES Trust:

• Net banking (through SBI Net Banking and other business Banks).
• Card installments (SBI ATM-cum-Debit Card, Mastercard, Other Bank Debit Cards, Foreign Card or Prepaid Card).
• Other installment modes like SBI Branch, RTGS/NEFT.
• Contributions can be made online on the PM CARES Fund’s committed entrance and the PMO gateway.
• Contributions can likewise be made on the entryways of the assortment banks.
• Contributions can be made by drawing a check, or requesting a draft for ‘PM CARES Fund’ and shipping off ‘Under Secretary (Reserves), PMO, South Block, New Delhi, Pin -110011’ alongside Name, Mobile no., Address, and E-mail ID of the benefactor.

Advantages of Making a Donation to PM CARES:

The PM Cares reserve comprises totally of willful commitments from associations or people, and it gets no monetary help. It is a beneficent asset where individuals add to help and give help to individuals’ government assistance in trouble or crises. The commitments are used exclusively for the goals referenced previously.

The gifts to PM CARES Fund meet all requirements for 80G advantages turned out under the Revenue Tax Act, 1961 for 100 percent exception. They additionally fit the bill to be considered CSR use under the Companies Act, 2013.

The gift made to PM CARES Fund has got exclusion under the Foreign Contribution Regulation Act, 2010 and a different record for getting the unfamiliar gifts is opened. Accordingly, the PM CARES Fund can acknowledge commitments and gifts from associations and people situated outside nations. During the year 2019-20, for example from 27 to 31 March 2020, a measure of Rs.3076.62 crore was gathered under PM CARES Fund.

Frequently Asked Questions on PM Cares:

Q1. When was the Prime Minister’s Citizen Assistance and Relief in Emergency Situation Fund established?

Answer: The Prime Minister’s Citizen Assistance and Relief in Emergency Situation (PM CARES) Fund was laid out remembering the need for having a committed asset in the country with its essential goal being to manage any trouble circumstance or crisis like the COVID-19 pandemic.

Giving help to the public impacted by the crisis or trouble circumstance in the country is their setup. PM CARES was enlisted as a public beneficent trust on 27 March 2020 under the Registration Act, 1908. 

Q2. What are the targets of the Prime Minister’s Citizen Assistance and Relief in Emergency Situation Fund?

Answer: The targets of the Prime Minister’s Citizen Assistance and Relief in Emergency Situation Fund are-

1. To help and embrace help or alleviation of any sort connecting with disaster or trouble, general wellbeing or some other sort of crisis, either regular or man-made.
2. The help under the asset incorporates the upgradation or making of drug or medical care offices, subsidizing applicable examination, other essential frameworks or some other sort of help.
3. To give awards of cash, render monetary help or make such different strides towards the impacted populace is considered significant by the Board of Trustees of the asset.
4. To embrace whatever other such action that isn’t conflicting with the goals referenced previously.

Q3. State the members of the Prime Minister’s Citizen Assistance and Relief in Emergency Situation Fund.

Answer: The position of the ex-officio Chairman of the PM CARES Fund is held by the Prime Minister of India. The Minister of Home Affairs, Minister of Defense, Minister of Finance, and Government of India are ex-officio Trustees of the Fund.

The Chairman of the Board of Trustees, for example, the PM, has the ability to assign three legal administrators to the Board of Trustees. They should be famous people in the field of examination, science, wellbeing, social work, policy management, regulation, and charity.

Q4. What are the advantages of making a donation to the Prime Minister’s Citizen Assistance and Relief in Emergency Situation Fund?

Answer: The PM Cares reserve comprises totally of willful commitments from associations or people, and it gets no monetary help. It is a beneficent asset where individuals add to help and give help to individuals’ government assistance in trouble or crises. The commitments are used exclusively for the goals referenced previously.

The gifts to PM CARES Fund meet all requirements for 80G advantages turned out under the Revenue Tax Act, 1961 for 100 percent exception. They additionally fit the bill to be considered CSR use under the Companies Act, 2013.

The gift made to PM CARES Fund has got exclusion under the Foreign Contribution Regulation Act, 2010 and a different record for getting the unfamiliar gifts is opened. Accordingly, the PM CARES Fund can acknowledge commitments and gifts from associations and people situated in outside nations. During the year 2019-20, for example from 27 to 31 March 2020, a measure of Rs.3076.62 crore was gathered under PM CARES Fund.