Financial Policy :-
Vikalp maintain all its accounts through nationalized bank, most of major transaction are made through cheque, separate accounting is maintained for all the projects as per the donor requirements and follow the specific financial and procurements procedures as applicable. Organisation has financial consultant and a chartered account for internal audit who maintain annual financial report, it has authorized bank signatory and mechanism of approvals of funds. The fund disbursement is adopted as per the standard operating procedures. Project staffs are paid as per the provision made under the project into their account.
In addition to this we have created staff welfare fund, it has been maintained by the staff which caters the specific needs as and when required in terms of soft loan.
Legal & Financial Information
• Vikalp Samajik Sanstha is registered as a not-for-profit Organization u/s 25 of the farms &
Society Act, 1973. Reg. No.03/31/01/08419/05.
• Vikalp Samajik Sanstha is registered u/s 12A of the Income Tax Act, 1961, and with the Director of Income Tax (Exemptions) u/s 80G, valid from September 24, 2008. (Reg. No. CIT- II/IND/TECH/12-A/08-09/80G).
• Vikalp Samajik Sanstha is registered under section 11(1) of the Foreign Contribution (Regulation) Act, 2010 (FCRA Reg. No. 063630001). The Bank account under which FC funds are received is with State Bank Of India., Drive In Road Branch, Anjad Distt. Barwani.
• Vikalp Samajik Sanstha operates Bank Accounts with Bank of Maharastra, Bicholi Mardana, 1 Bank Account with State Bank Of India Anajd , 1 Bank Account with State Bank Of India Manawar , 1 Bank Account with State Bank Of India Mandsaur
• Pan Card Our Internal Auditor Mr. Neeloy Dangra from Neeloy Dangra & Associates indore