PM Internship Scheme: Eligibility to Everything You Need To Know

Union Government on Thursday, October 3, launched Prime Minister's Internship Scheme which was announced in Budget after Prime Minister Narendra Modi -led National Democratic Alliance came to power for third time. According to sources, the scheme will provide internship opportunities to young people in top 500 companies for five years.

A new scheme by the Ministry of Corporate Affairs (MCA) has been launched recently. In this scheme, the ministry would provide real-world business experience to young individuals across various sectors in the age group of 21-24 years. The scheme is expected to improve employability through practical exposure. Managing the scheme: www.pminternship.mca.gov.in; now open for partner companies to offer internship opportunities. Candidate registrations will start in the second week of October 2024.

Under the scheme, interns would be exposed to business environments through which they would accumulate valuable knowledge and experience and boost their future career prospects. Partner companies would issue certificates at the end of successful internship periods, which would give them a competitive edge by associating with well-established firms, government sources said.

Rs 5,000 will be provided to each intern and this will be split with Rs 4,500 by way of contribution through the Government and Rs 500 by way of CSR contribution of the company. The MCA would grant a one-time incidental allowance of Rs 6,000. Incidental cost can be shared more than Rs 500 with an adequate monthly assistance if so desired by the company.

Eligibility Criteria

The scheme is open to Indian nationals between the ages of 21 and 24 who are not employed full-time or engaged in full-time education, though candidates enrolled in distance learning are eligible. Applicants must have completed high school or higher secondary school, or hold certificates from ITIs, Polytechnic diplomas, or undergraduate degrees in fields like BA, B.Sc., B.Com., BCA, BBA, and more.

Another notable exception, however, is that candidates who have graduated from top institutions like IITs, IIMs, or National Law Universities and candidates with professional degrees such as MBA, CA, and MBBS are not eligible for this internship scheme. Candidates whose family income exceeds Rs 8 lakh or whose family members are in permanent government jobs will also not qualify.