Pradhan Mantri Yuva Rozgar Yojana: Eligibility, Application Process, Documents and Updates

In India, numerous young individuals harbor strong aspirations of starting their own businesses. Many of them even possess well-thought-out business plans. However, some are hindered by a lack of capital, preventing them from realizing their entrepreneurial dreams. Consequently, for these youths, their aspirations often remain unfulfilled dreams. Recognizing this issue, the Central Government has introduced the Pradhan Mantri Yuva Rozgar Yojana, aimed at eliminating such financial obstacles. Let’s delve into who qualifies for this scheme and how one can apply online.

Eligibility Criteria for the Pradhan Mantri Yuva Rozgar Yojana

• Applicants must be between 18 and 35 years of age for the general category, with the upper age limit extended to 40 years for the northeastern regions.
• Additionally, age limits are relaxed by ten years for women, differently-abled individuals, SC/ST candidates, and ex-servicemen.
• Applicants should not have an annual income exceeding Rs. 40,000.
• Candidates must have completed at least six months of training in a government-recognized trade institution.
• Applicants should have been permanent residents in their respective regions for at least three years.
• Educational qualifications must include at least an eighth-grade pass, and candidates should not be defaulters to any nationalized bank.

Pradhan Mantri Yuva Rozgar Yojana online Apply

• Visit the official website at https://pmrpy.gov.in.
• Download the application form available on the website.
• Carefully fill in all the required information in the form.
• Deposit the completed form in any bank participating in the scheme.
• Here is where you can directly download the form.

Essential Documents for Application

• Aadhar Card
• Income Certificate
• Caste Certificate
• Identity Proof
• Business Details
• Mobile Number
• Passport-sized Photograph

The Pradhan Mantri Yuva Rozgar Yojana (PMRY) can be an excellent opportunity for young entrepreneurs. The scheme offers support by depositing the employer’s and employee’s provident fund and employee’s pension scheme contributions into your account. This scheme, initially launched in 2017, was modified by the government in 2018.

Under the PMRY scheme, all registered enterprises with the EPFO will benefit. To be eligible, employees must have a Universal Account Number (UAN) linked to their Aadhar card. Additionally, employees should earn less than ₹15,000 monthly to qualify for this scheme.

Notably, only businesses registered with EPFO after April 1, 2016, will be considered for this scheme. This scheme aims to create a conducive environment for budding entrepreneurs and bridge the financial gap preventing many young individuals from pursuing their entrepreneurial dreams.