PM Internship Scheme: What is the Prime Minister Internship Scheme? For which 1.55 lakh youth have registered, take advantage like this!

Till Sunday, more than 1,55,000 youth have registered for the Prime Minister Internship Scheme. The response from candidates in the first phase of the scheme, which started on October 3, has been better than the expectations of policy makers. The government had set a target of selecting 1,00,000 candidates for internship by December. It is expected that this target will be easily accomplished. Know about this scheme here (PM Internship Scheme Details).

What is PM Internship Scheme: What is Prime Minister Internship Scheme?

Pradhan Mantri Internship Scheme will provide 12-month internship opportunities to 1 crore youth in the top 500 companies of the country in the next 5 years. The government has identified all 500 participating companies and listed them on a web portal run by the Ministry of Corporate Affairs. This ministry administers this scheme. The portal shows that more than 80 thousand internships have already been received from about 200 companies in 24 sectors.

Jubilant Foodworks, Eicher Motor Limited, Larsen & Toubro Limited, Tech Mahindra, Mahindra & Mahindra Limited, Bajaj Finance and Muthoot Finance are among the companies that have offered internships so far.

This program provides young people aged 21-24 years with the opportunity to become familiar with the real business environment in different sectors, helping them gain skills and work experience. Email queries sent to the corporate affairs ministry and companies on Monday seeking comment on the internship scheme did not elicit any response at the time of publication.

Eligibility for PM Internship Scheme: Eligibility for PM Internship Scheme

Pradhan Mantri Internship Scheme was launched with two specific goals – to provide on-the-job training to the youth as well as to help the unemployed youth get a basic financial relief through stipend.

For internship scheme 3 basic eligibility criteria Are:
You must be between 21 to 24 years of age as on the last date of applying for internship and must be an Indian citizen.
You must not have full-time employment at the time of your internship.
Students studying any full time degree or other course are not eligible for this, however youth doing distance learning or online courses can apply.

How to Register for PM Internship Scheme: How to apply for Prime Minister Internship Scheme?

Candidates who meet the eligibility criteria must first apply by creating a profile online on the portal. Once the profile is created, candidates will be contacted by the partner companies for the same. Remember, this scheme is a Direct Benefit Transfer scheme.

This means that once offered an internship, candidates will receive Rs 4500 directly from the government and the remaining amount from the company.

Apart from this, an amount of Rs 6000 will also be transferred to the candidates at the time of taking charge by the government to help them with any incidental expenses.

PM Internship Scheme Benefits: What benefits will interns get?

Skill Boost: Internships are beneficial to both job seekers and employers.

The intern will get a monthly assistance of Rs 4,500 from the government and Rs 500 from the company. Apart from this, a lump sum grant amount of Rs 6,000 will also be given to them by the government.

Companies are allowed to contribute Rs 500 per intern every month towards the cost of training of interns as well, which they can give from their Corporate Social Responsibility fund. Insurance cover will be provided to each intern under Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.