PM Internship Scheme: Registration, Benefits, Stipend, Eligibility, and Application Process

The Prime Minister’s Internship Scheme (PMIS) is a revolutionary initiative started by the Government of India to find a proper intermediary between what students learn in academics and what is required in the industry.

The scheme, introduced in Union Budget 2024-25, proposes to provide practical business exposure to young graduates through internships in the top 500 companies in India. Over the next five years, PMIS is aimed at creating one crore internship opportunities, wherein 1.25 lakh internships are planned for the financial year 2024-25.

Eligibility Criteria

To be considered for the PM Internship Scheme, applicants must meet the following criteria:

• Age: Applicants should be between 21 to 24 years old. Relaxations are provided for certain categories:
  • OBC: Up to 3 years
  • SC/ST: Up to 5 years
• Educational Qualifications: Candidates should have completed one of the following:
  • High School (10th)
  • Higher Secondary (12th)
  • ITI Diploma
  • Polytechnic Diploma
  • Undergraduate degrees such as BA, BSc, BCom, BCA, BBA, BPharma, etc.
• Income Criteria: The applicant’s family annual income from all sources should not exceed ₹8,00,000.
• Employment Status: Applicants should not be engaged in full-time employment or enrolled in full-time education during the internship period.
• Exclusions: Candidates who have graduated from premier institutions like IITs, IIMs, IISERs, NITs, IIITs, or have professional degrees such as CA, CMA, CS, MBBS, MBA, BDS, or any other master’s degree are not eligible.

Benefits and Stipend

The PM Internship Scheme offers several benefits to selected interns:

• Monthly Stipend: Interns will receive a monthly stipend of ₹5,000 for the entire 12-month duration of the internship. This stipend is funded through Corporate Social Responsibility (CSR) contributions, with ₹4,500 provided by the government and ₹500 contributed by the participating company.
• One-Time Grant: A one-time grant of ₹6,000 will be provided to cover incidental expenses upon joining the internship.
• Insurance Coverage: Interns will be covered under the government’s insurance schemes, including the Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.
• Training Costs: The training costs will be covered by the company’s CSR funds as per current regulations.

Application Process

To apply for the PM Internship Scheme, follow these steps:

1. Registration:
   • Visit the official PM Internship Scheme portal: pminternship.mca.gov.in.
   • Create an account by providing your personal details and valid contact information.
2. Profile Completion:
   • Fill in your educational qualifications, including details of your highest degree or diploma obtained.
   • Upload necessary documents such as Aadhaar Card, income certificate, and a self-declaration affidavit confirming your eligibility.
3. Internship Selection:
   • Browse through the list of available internships offered by various companies across different sectors.
   • Select the internships that align with your interests and qualifications.
4. Application Submission:
   • Submit your application for the chosen internships through the portal.
   • Ensure all information provided is accurate and complete to avoid disqualification.
5. Selection Process:
   • The selection process will be conducted by the participating companies between October 27 and November 7, 2024.
   • Offer letters will be sent to selected candidates between November 8 and 15, 2024.
6. Internship Commencement:
   • The internship program is scheduled to begin on December 2, 2024.

Conclusion

The Prime Minister’s Internship Scheme is surely an admirable scheme to empower the Indian youth by providing them with the experience of working in the industry. Through the scheme, young graduates can maximize their chances of employment, learn skills, and make valuable contributions to the workforce in the nation. So eligible candidates are encouraged to apply and take advantage of this opportunity in the interest of their professional careers.

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FAQs (Frequently Asked Questions)