PM Internship Scheme: All you need to know and Apply

The Prime Minister Internship Scheme (PMIS) is a recently launched initiative aimed at bridging the skill gap and enhancing employability among Indian youth in top 500 companies in five years. Announced in the Union Budget 2024-25, the scheme offers a unique opportunity for almost one crore young graduates to gain valuable work experience in top companies across India. This article provides a comprehensive overview of the PM Internship Scheme, covering its key features, eligibility criteria, application process, and benefits.

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What is PM Internship Scheme?

For the financial year 2024-2025, a pilot project of the scheme targeted at providing 1.25 lakh internship opportunities is being launched . This scheme is implemented across states and UTs of India and will run independently of central/state schemes .The duration of the internship is 12 months . The PM Internship Scheme boasts several noteworthy features that make it an attractive proposition for both candidates and companies:

Focus on Real-World Experience: The scheme prioritizes providing interns with hands-on experience in a professional setting, allowing them to apply their theoretical knowledge to practical situations.
Wide Range of Sectors: Internships are available across a diverse range of sectors, including oil & gas, hospitality, automotive, IT, and banking, catering to a variety of interests and skillsets.
Exposure to Top Companies: The scheme partners with India's leading companies, offering interns the chance to work and learn from industry leaders.
Financial Assistance: Interns receive a monthly stipend to support their living expenses during the internship period.
Skill Development: The PMIS aims to equip young graduates with essential skills sought after by employers, making them more competitive in the job market.

PM Internship Scheme: Internship Payment and Grant for Incidentals

PM Internship Scheme Payment

Interns participating in the PM Internship Scheme will receive a monthly internship stipend to support their living expenses. Additionally, they may be eligible for a grant to cover incidental expenses such as transportation, accommodation, and meals.

The government will pay Rs. 4500 to the candidate through Direct Benefit Transfer to the interns Adhaar seeded bank account. The company will provide monthly assistance of Rs. 500. For authentic information, please refer the official website: https://pminternship.mca.gov.in/login/

The PM Internship Scheme is a promising initiative that offers a valuable opportunity for young graduates to gain practical experience and enhance their career prospects. By bridging the gap between education and employment, the scheme has the potential to contribute significantly to India's economic growth and development.

PM Internship Scheme Eligibility Criteria for Candidates

Here is a list of criteria for young candidates who wish to be part of the PM internship scheme. To be eligible for the PM Internship Scheme, candidates must meet the following criteria as given below:

Age: Between 21 and 24 years of age as of December 1, 2024.
Citizenship: Must be a citizen of India.
Educational Qualification: Possess a graduation degree from a recognized university in India (See details below).

Educational Qualifications for PM Internship Scheme

Educational Qualifications: Candidates who have passed High School, Higher Secondary School, possess a certificate from an ITI, hold a diploma from a Polytechnic Institute, or are graduates with degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, etc. are eligible,

PM Internship Scheme Ineligibility Criteria

The following categories of candidates are not eligible to apply for the PM Internship Scheme:

Individuals currently employed in any government or private organization.
Individuals who have previously availed themselves of a similar government-sponsored internship program.

Criteria for Companies and Partners to Participate in PM Internship Scheme

Top 500 companies, with approval of Ministry Of Copporate Affairs (MCA) on the basis of their CSR expenditure of the last three years and those interested in participating in the PM Internship Scheme need to meet specific criteria:

Corporate Social Responsibility (CSR) Commitment: Companies should demonstrate a strong commitment to CSR based on their CSR expenditure in the past three years.
Registration: Companies must register on the dedicated PM Internship Scheme portal and create internship opportunities aligned with their business needs.
Mentorship: Companies are expected to provide interns with dedicated mentors who will guide and support them throughout the internship period.

The Ministry of Corporate Affairs (MCA) is responsible for selecting companies based on the aforementioned criteria.

PM Internship Partner Companies

As of October 15, 2024, the complete list of partner companies participating in the PM Internship Scheme is not yet publicly available. However, news reports indicate that several prominent companies have already signed up, including:

Reliance Industries Limited (RIL)
Maruti Suzuki India Limited
Larsen & Toubro Limited (L&T)
Jubilant FoodWorks Limited
Eicher Motors Limited
Tech Mahindra Limited
Mahindra & Mahindra Limited
Bajaj Finance Limited
Muthoot Finance Limited

It is expected that more companies will join the scheme in the coming weeks and months. You can find updates on the list of partner companies on the official PM Internship Scheme portal.

How to apply to the PM Internship Scheme

The application process for the PM Internship Scheme is entirely online:

Registration: Candidates must register on the official PM Internship Scheme portal https://pminternship.mca.gov.in/login/
Profile Creation: Create a comprehensive profile highlighting your educational qualifications, skills, and areas of interest.
Search for internships: Browse available internships offered by various companies and apply to positions that align with your interests and skillset.
Company Selection: Shortlisted candidates will be contacted by the respective companies for further evaluation, which may involve interviews or online assessments.

The application window for the pilot project of the PM Internship Scheme closed on October 12, 2024. However, you can stay updated on the official website for future application cycles.

Shortlisting of Candidates

The selection process for interns will involve a collaborative effort between the PM Internship Scheme portal and participating companies.

Initial Screening: The portal will conduct an initial screening based on the eligibility criteria and candidate profiles.
Company Evaluation: Shortlisted candidates will be forwarded to the companies for further evaluation. Companies may conduct interviews, assessments, or other selection methods to choose the most suitable interns.

Guidelines for Companies

Participating companies are expected to adhere to the following guidelines:

Fair Selection: Companies should ensure a fair and transparent selection process, free from discrimination or bias.
Mentorship: Provide interns with dedicated mentors who will guide and support them throughout the internship period.
Work Experience: Offer interns meaningful work assignments that align with their skills and interests.
Feedback and Evaluation: Provide regular feedback to interns and conduct periodic evaluations to assess their performance.
Certificate of Completion: Issue a certificate of completion upon successful completion of the internship.

Guidelines for Candidates

These are the guidelines for candidates who wish to intern in PM Internship scheme. The interns are expected in various terms, such as :

Active participation: Actively participate in assigned tasks and projects.
Learning and Development: Demonstrate a willingness to learn and develop new skills.
Professional Conduct: Adhere to the company's code of conduct and maintain professional behavior.
Feedback: Provide feedback to the company regarding the internship experience.

Scope of PM Internship Scheme

The given below is the scope of the PM internship scheme .The PM Internship Scheme aims to:

Bridge the Skill Gap: Address the mismatch between academic qualifications and industry requirements.
Enhance Employability: Equip young graduates with practical skills and experience to improve their job prospects.
Promote Innovation: Foster a culture of innovation and entrepreneurship among young professionals.
Strengthen Industry-Academia Collaboration: Facilitate partnerships between industry and academic institutions.

PM Internship Scheme Duration

The duration of the PM Internship Scheme may vary depending on the specific requirements of the company and the nature of the internship. However, it is generally expected to be 12 months. You can have first-hand knowledge of this scheme by referring the official PM Internship scheme website: https://pminternship.mca.gov.in/login/

Frequently Asked Questions(FAQs)

What is the PM Internship Scheme?

The PM Internship Scheme (PMIS) is a government initiative aimed at bridging the skill gap and enhancing employability among young Indian graduates. It offers 12-month internships in India's top 500 companies for the pilot project year (2024-25).

Who is eligible for internship scheme budget 2024?

Indian citizens aged between 21 and 24 years old (as of December 1, 2024).
Graduates from recognized universities in India (including High School, Higher Secondary School, ITI Certificate, Polytechnic Diploma, or Bachelor's Degree).
Not currently employed or enrolled in another government-sponsored internship program.

What are the benefits of participating in PM Internship scheme 2024?

Gain valuable real-world work experience in a professional setting.
Get exposure to leading companies in diverse sectors (oil & gas, hospitality, IT, etc.).
Receive a monthly stipend of Rs. 4500 from the government and Rs. 500 from the company (for living expenses).
Develop essential skills sought after by employers, improving your job prospects.

How to apply for an Internship in the PM Internship Scheme?

The application window for the pilot project has closed (October 12, 2024). However, you can stay updated on the official website (https://pminternship.mca.gov.in/login/) for future application cycles. The process generally involves:

Registering on the PMIS portal.
Creating a profile highlighting your qualifications and interests.
Browsing available internships and applying to relevant positions.
Attending interviews or assessments (if shortlisted by companies).

Conclusion

The PM Internship Scheme is a commendable initiative that offers a unique opportunity for young graduates to gain valuable work experience in top Indian companies. By bridging the skill gap and enhancing employability, the scheme has the potential to contribute significantly to India's economic growth and development. Through its focus on real-world experience, exposure to leading companies, and financial assistance, the PM Internship Scheme provides a platform for young professionals to build their careers and make a positive impact on society.This Amrita AHEAD article has covered almost all areas to give insights on all posible topics in PM Insternship Scheme for building up a bright future.

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