What is the PM Internship Scheme?
The Prime Minister Internship Scheme (PMIS) is a ₹800 crore initiative aimed at providing industry exposure to 1 crore young individuals over the next five years. 500 companies have been selected by the govt. and they are listed on the official internship portal (pminternship.mca.gov.in). These companies have been selected on the basis of their average CSR spend for the last three years.
What are the key features of the PM Internship Scheme?
The PM Internship Scheme has a duration of 12 months, with a minimum of 6 months dedicated to on-the-job training. Interns receive a monthly stipend of ₹5,000 (₹500 contributed by the company’s CSR fund and ₹4,500 provided by the government). Additionally, the government also provides interns a one-time grant of ₹6,000 to cover incidental expenses.
As part of the CSR benefits, businesses can count training costs toward their CSR obligations and allocate 5% of CSR spending as administrative costs. The government also provides insurance for interns, covering the premiums.
How does the scheme benefit businesses?
Participating in the PM Internship Scheme offers a strategic advantage to strengthen your talent pipeline and achieve your CSR objectives, all while benefiting from government support.
How can TeamLease help?
As a leader in workforce development, we are the preferred partner for over 1,000 organizations across India for creating effective talent pipelines. Our team of experts can provide comprehensive support, from guiding you through the portal registration process to identifying the ideal job roles for offering internship opportunities.
