PM Internship Scheme: Benefits, Eligibility, and Apply Process!

The government of India launched the PM Internship Scheme. It was introduced by Finance Minister Nirmala Sitharaman as part of the education section in the annual budget. The objective is to provide internships to students who have completed their education. Eligible students will get a monthly stipend directly into their bank accounts, allowing them to take advantage of the program.

What is the PM Internship Scheme?

The PM Internship Scheme’s main objective is to cater to the needs of youth and reduce unemployment in India. As per the budget rollout, 1 crore youth would directly benefit from the Scheme. Financial assistance in the form of internships would help the youth get exposure to how the industry works and get them jobs quickly.

If you are an applicant, you can check the eligibility guidelines by visiting the official website, filling out the application form online, and reviewing the criteria for availing of financial assistance under the PM Internship Scheme.

Benefits

The Government of India is resolved to provide benefits to 1 crore youth under the Scheme. Here are the key benefits:

Key Benefits:

• The most notable advantage of employment is that it allows young people to gain practical working experience in professional spheres.
• This system aims to prepare the learners with the practical skills required to work with industrial varnish.
• The employee gets a monthly salary of Rs. The government is paying a total of Rs 4,500 and Rs. The organization offered Rs 500 to ensure sustenance throughout the training.
• This will be very significant in real work settings and foster better comprehension of the work environment.
• It offers camps to train in the largest 500 companies of India and boosts the connections of the players. This will lead to an inflow of youth from all sectors, including ITIs and skill centers, into employment.
• They achieve this by administering a transparent mode of selection that minimizes discrimination and improves the selection of candidates.
• The objective is to increase the youth population to above 10 million in five years to address the underlying skills deficit in the labor force.
• This makes it possible for firms to embrace customers in a more advanced manner through partnering with other firms.

Financial benefits for selected applications

• The financial assistance of ₹6,000 (One-time grants for incidentals)
• The monthly stipend of up to ₹4,500 (By Government of India)
• The monthly assistance of ₹500 (By Industry)

Mode of receipt on assistance

• Interns will receive ₹5000 every month for 1 year (12 months)
• The company will release ₹500 based on attendance.
• ₹4,500 will be transferred directly to the intern’s Aadhaar-linked bank account, and the rest of ₹500 will be transferred after the company checks their attendance.

Salient features of the PM Internship Scheme:

• The program will be for one year.
• It will give an organized structure for honing skills and employment.
• Interns will receive a stipend of Rs 4,500 + an extra Rs 500 (from CSR)
• There would be a one-time grant of Rs. 6,000.
• The one-time grant would also be credited directly to the bank account. 
• The interns who are selected to get coverage under government schemes:
  • Pradhan Mantri Jeevan Jyoti Bima Yojana
  • Pradhan Mantri Suraksha Bima Yojana

Related Scheme: Mukhyamantri Udyami Yojana

Eligibility

If you want to apply for the PM Internship Scheme, you must fulfill the eligibility guidelines. Here are the eligibility criteria:

• You should be a citizen of India.
• The applicant should be between 21 and 24 years old.
• You don’t have to be a full-time employee.
• The candidates need to have the Secondary School Certificate (SSC) or its equivalent, the Higher Secondary Certificate (HSC) or its equivalent, a certificate from an Industrial Training Institute (ITI), a diploma from a polytechnic, or a bachelor’s degree, namely BA BSc BCom BCA BBA BPHRMA.

Ineligibility

• Your application would not be accepted if you’re working as a full-time employee in any firm or pursuing full-time education.
• Those who are graduates from national institutes like IITs, and IIMs, are not eligible for the PM Internship Scheme.
• Also, if you hold a degree like CA, CMA, CS, MBBS, BDS, MBA, PhD, or any master’s degree, you would be ineligible.
• The applicants are ineligible if registered in any government skill, apprenticeship, or internship program.
• Applicants who have done apprenticeships are not eligible.
• Your family income should be Rs. 8 lakh for 2023-24.
• Any of your family members should not be a permanent government employee. (Contractual government employees are excluded.)

How to Apply?

The Prime Minister Internship Scheme launched its dedicated portal in October 2024, where youth can apply for internships in leading corporate houses. 

Participating corporations will post the proposed roles, and attendance will be held on October 12 and October 12, 2024. 

The scheme aims to increase the employability rates among the working-age population by providing one year’s internships in the top 500 companies in India. 

The youth can apply to the internship platform easily. 

The Prime Minister Internship Scheme will be run through an online portal with several URLs: https://pminternship.mca.gov.in/login/. This portal will serve as an electronic headquarters for the internship program’s activities and systems.

Posting Internship Opportunities

Each partnered company will have a unique dashboard on the portal to upload the available internship opportunities. Details of each internship will include:

• Where the internship is located
• What type of work will be done at the internship
• The minimum education level of the intern
• What facilities or benefits, if any does the company provide

How to register?

• The applicants need to register on the official website.
• The portal automatically generates a CV for each candidate, with the particulars available at the verification point.
• The candidates can search and view the available internships according to preference.
• Applicants can apply for up to 5 internships.

Document Required

• Aadhar Card
• Email address and Mobile Number
• Address Proof
• PAN Card
• Ration card

The Prime Minister Internship Scheme offers a valuable opportunity for Indian youth to gain practical work experience. To reach more young individuals, the scheme not only offers a monthly stipend but also encourages skill development and professional growth.

Frequently Asked Questions