Announced in the Union Budget 2024, the Prime Minister’s Internship Program at Top Companies will also provide insurance coverage to the interns.
The plan will be implemented through a online portal developed by the ministry of corporate affairs.
Subject to certain conditions, young people between the ages of 21 and 24 will be eligible for the scheme, sources said.
The internship program will begin on December 2.
Through the portal, sources said, partner companies can offer internship opportunities and the best companies for the pilot project have been identified based on their average CSR spending over the last three years. Candidates seeking internship opportunities will be able to register on the portal from the second week of October. The participation of companies in the plan is voluntary and internships will be offered for 12 months, with at least half of the period must be spent in the real work environment and not in the classroom.
Any other company/bank/financial institution can participate in the plan with the approval of the ministry, which will take into account factors such as sectors and areas underrepresented by the top 500 companies.
The interns will be given financial assistance of Rs 5,000 per month and out of the total amount, the government will disburse Rs 4,500 and the company will pay Rs 500 from its own account. CSR funds.
Additionally, the ministry will disburse a one-time grant of Rs 6,000 towards incidental expenses to each intern upon joining the internship location.
The expenses associated with training interns under the scheme will be borne by the company from its CSR funds.
Insurance cover will be provided to each individual intern under the insurance schemes of the Union government, Prime Minister Jeevan Jyoti Bima Yojana and Prime Minister Suraksha Bima Yojana. The premium amount in this regard will be offered by the government.
As part of the eligibility criteriaAccording to sources, candidates enrolled in online/distance learning programs are eligible to apply.
Candidates who have passed secondary school, higher secondary school, possess a certificate from an ITI, have a diploma from a Polytechnic Institute or are graduates with degrees like BA, B.Sc, B.Com, BCA, BBA, B.Pharma . , etc. are eligible, sources said.
Partner companies will have a dedicated dashboard on the portal where they can post internship opportunities, detailing the location, nature, qualifications required and facilities provided.
Eligible candidates can register on the Portal, where their details will be used to generate a resume.
Candidates can search for internships based on their preferred sectors, roles and locations and apply for up to five opportunities.
(With input from PTI)
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