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Govt to reimburse 25% of employee training costs to companies

skill-indiaGovernment has notified National Apprenticeship Promotion Scheme, a first of its kind to offer financial incentives to employers for training apprentices.

The Scheme has an outlay of Rs. 10,000 crore with a target of 50 Lakh apprentices to be trained by 2019-20.

25% of the prescribed stipend payable to an apprentice would be reimbursed to the employers directly by the Government of India.

“Apprenticeship training is considered to be one of the most efficient ways to develop skilled manpower for the country. It provides for an industry led, practice oriented, effective and efficient mode of formal training,” said the government.

The national policy of skill development and entrepreneurship was launched last year by PM Narendra Modi. The policy proposes to work pro-actively with the industry including Ministry of Micro Small & Medium Enterprises to facilitate tenfold increase opportunities in the country by 2020.

The scheme also supports basic training for fresher apprentices by sharing training cost with training providers.

An online portal has been provided for ease of administering. All transactions including registration by employers, apprentices, registration of contract and payment to employers can be made online.

Eligible employers shall engage apprentices in a band of 2.5% to 10% of the total strength of the establishment. Employers need to register on the apprenticeship portal and must have TIN/TAN and any one of employees provident fund/ESIC/LIN.

Brand Ambassadors will be appointed for states and for local industrial clusters to act as facilitators and promoters to promote apprenticeship training.

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