What is the expenditure requirement under CSR, as per Companies Act 2013?

As per the provisions of this section, a Company having Net worth of ·         Rs.500 crore or more, or ·         Turnover of Rs.1000 crore or more or ·         net profit of Rs.5 crore or more in previous financial year, should: ·         Constitute a CSR Committee (consisting of 3 or more directors of which at least 1 is independent director) and ·         spend at least 2% of the average net profits of three immediately preceding years on CSR activities (companies which spend any amount in excess  of their CSR obligation in a financial year can set off the excess amount towards their CSR  obligations in subsequent financial years)