Explanation:

Both statements are correct.

Corporate Social Responsibility (CSR)

• The concept of CSR is the idea that companies should assess and take responsibility for their effects on the environment and on social welfare, and to promote positive social and environmental change.

The four main types of corporate social responsibility are:

1. Environmental Responsibility

2. Ethical Responsibility

3. Philanthropic Responsibility

4. Economic Responsibility

The Corporate Social Responsibility provisions within Companies Act 2013 is applicable to companies with an annual turnover of 1,000 crore and more, or a net worth of Rs. 500 crore and more, or a net profit of Rs. 5 crore and more. 

• The Act requires companies to set up a CSR committee which shall recommend a Corporate Social Responsibility Policy to the Board of Directors and also monitor the same from time to time.

Activities under CSR

Specified under Schedule VII of the Companies Act 2013, some major activities include:

• Eradicating hunger, poverty and malnutrition and promotion of education and gender equality.

• Fighting Acquired Immune Deficiency Syndrome (AIDS), Human Immunodeficiency Virus, and other disorders

• Ensuring Environmental Sustainability

• Protection of National Heritage, Art and Culture including restoration of buildings and sites of historical importance and works of art.

• Measures for the benefit of armed forces veterans, war widows and their dependents.

• Training to promote rural sports, nationally recognized sports, paralympic sports and Olympic sports

• Contribution to the PM's National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief.

Hence option 3rd is correct.