Large companies like Reliance Industries and HDFC Bank are participating in the PM Internship Scheme. The govt is expected to exceed its goal of providing internships to 125,000 candidates by December 2. The scheme aims to offer 10 million internships over five years, with monthly allowances supported by corporate CSR funds.
The ministry of corporate affairs (MCA), which is implementing the scheme, had asked companies to upload details of their offers on the portal from October 3.
The portal will be made available to aspirants from October 12-25 to apply for internships, and by December 2, the eligible ones will actually start internships with the companies.
Some other prominent companies that will offer internships are Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra, Alembic Pharmaceuticals, Max Life Insurance, Jubilant Foodworks, Eicher Motor and Muthoot Finance, officials said earlier.
Once the initial pilot project under the scheme is rolled out with targeted internship offers to 125,000 aspirants by December 2, the ministry will keep expanding it to accommodate more candidates, factoring in learnings from the initial experiences.
Under the scheme, the government aims to make internship opportunities available to 10 million youths at 500 companies over five years. The Confederation of Indian Industry has conducted industry interactions with the MCA for this initiative.
The internship opportunities are spread across about two dozen sectors, including oil & gas, energy, travel & hospitality, auto, banking & financial services, infrastructure & construction, aviation and defence, officials have said.
The offers are for candidates across various states and UTs.
Each selected intern will get a monthly allowance of ₹5,000 for one year, on top of a one-time aid of ₹6,000. The government will bear ₹54,000 towards monthly allowance and one-time aid, spending ₹60,000 for each intern. The participating companies will bear the training cost and 10% of the monthly allowance, amounting to ₹6,000 for each candidate, from their CSR funds.
The scheme is aimed at youths belonging to the economically weaker households with no member earning above ₹8 lakh a year.
Who is eligible to apply?
Applicants for the internship programme must have completed their high school education and obtained a certificate from an ITI, a diploma from a Polytechnic Institute, or a degree such as BA, BSc, BCom, BCA, BBA, or BPharma. Candidates should be between 21 and 24 years old at the time of the application deadline.
To be eligible, candidates should be Indian and should not work a full-time job or full-time school. Applicants may apply if they are enrolled in online or distance learning courses.
How to apply?
Step 1: Visit the official website — pminternship.mca.gov.in.
Step 2: On the homepage, scroll down and you will see a register option. Select the link and a new page will open.
Step 3: Fill in the registration details and required documents, and select the submit button.
There is no registration or application fee. Based on the details shared by the candidate, a resume will be generated automatically and a student can apply to at least five opportunities based on his or her preferences.
Will students get a stipend?
As an intern, a candidate will receive a monthly stipend of Rs 5,000 for the entire 12-month internship. This stipend is funded by the company’s CSR, with Rs 500 coming from the company and Rs 4500 from the government.
In addition to the monthly stipend, interns will also receive a one-time financial support of Rs 6,000 to cover any incidental expenses.
Furthermore, the government will ensure that interns are insured through initiatives like PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with the government covering the insurance premiums.
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