Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) is set up as a public charitable trust under the Registration Act, 1908 in 2020.
It is not created under the Constitution or any law made by the Parliament or the state
The fund is administered on an honorary basis by Additional Secretary/ Joint Secretary, in charge of the PM CARES Fund in the PMO.
The Prime Minister’s Office provides administrative and secretarial support to the Trustees .
The fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support.
Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961.
Donations to PM CARES Fund will also qualify to be counted as Corporate SocialResponsibility (CSR) expenditure under the Companies Act, 2013
PM CARES Fund has also got exemption under the FCRA and a separate account for receiving foreign donations has been opened.
PM CARES Fund accepts donations and contributions from individuals and organizations based in foreign countries.
This is consistent with respect to Prime Minister’s National Relief Fund (PMNRF). PMNRF has also received foreign contributions as a public trust since 2011.
PM CARES Fund is audited by an independent auditor
The Head Office of the Fund is Prime Minister’s Office, New Delhi.
Constitution of the Trust :
Prime Minister is the ex-officio Chairman of the PM CARES Fund
Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
Any person appointed a Trustee shall act in a pro bono capacity.
Objectives:
To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural,
creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.
To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.
