PM Internship Scheme Ministry Of Corporate Affairs 2024

About Opportunity

The Ministry of Corporate Affairs (MCA), which is implementing the scheme, has provided eligibility guidelines to participating com- panies a document reviewed by Business Standard. Applicants must have completed matriculation and be aged 21 to 24, and focus will be on those with "lower employability". Further, candidates cannot come from fam- ilies with government jobs or those subject to income tax. Graduates from leading institutions such as the II'Ts, IIMS, IISERs, as well as Chartered Accountants and Certified Management Accountants, are ineligible. The guidelines suggest that at least half of the 12-month internship be dedicated to "actual working experience" rather than classroom- based training.

Companies unable to absorb all interns are encouraged to coordinate with affil- iates or supply chain partners to accommodate placements. The programme will be rolled out in two phases: 3 million youths will be trained in the first two years, with an additional 7 mil lion in the following three. The MCA has pro- posed a monthly stipend of 25.000 for each intern, with 24,500 provided as a direct benefit transfer from the government and ?500 con tributed by participating companies from their CSR funds.

Award

• 12 months real-life experience in India's top companies.

• Monthly assistance of ?4500 by Government of India and ?500 by Industry.

• One-time Grant of ?6000 for incidentals.

• Insurance coverage for every intern under Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana by Government of India.