ICAI to Onboard 25 CA Firms Under PM Internship Scheme, Targets 2,000 Interns this Year

The Institute of Chartered Accountants of India (ICAI) is set to onboard 25 chartered accountancy firms under the Prime Minister Internship Scheme (PMIS), opening new internship opportunities for youth in accounting, taxation, audit and compliance.

The government relaxed a key condition related to stipend payments which had earlier prevented most CA firms from participating in the scheme. Previously, employers were required to contribute their share of the stipend through Corporate Social Responsibility (CSR) funds. Most CA firms operate as partnerships or proprietorships and do not maintain CSR budgets, so they were effectively excluded from the programme.

With the revised rules, CA firms across the country can now participate in PMIS. ICAI President CA Prasanna Kumar D said the institute will begin with 25 medium and large-sized firms that have at least 10 partners. The firms are expected to be registered under the scheme by next week while the first batch of interns are likely to join from next month.

“We are starting with 25 firms because we need to understand the process and address any operational issues first. Once the systems are in place, we can open it up for everyone,” Kumar said.

ICAI will likely place around 2,000 interns under the scheme by the end of this year. Under PMIS, interns receive a monthly stipend of Rs 9,000, of which Rs 8,100 is paid by the government and Rs 900 is contributed by the employer.

The institute believes the inclusion of CA firms will help improve participation in the scheme, which has faced low joining rates and high dropout levels since its launch in 2024. Many candidates had declined internship offers because they were required to relocate far from their homes.

Kumar said the wide presence of CA firms in Tier-II and Tier-III cities could make internship opportunities more accessible to young people. He also assured that interns would receive meaningful professional exposure and not be limited to routine clerical work.

While the scheme does not guarantee full-time employment after completion, ICAI believes the practical experience gained by interns will improve their employability and help meet the growing demand for skilled professionals in finance, taxation and compliance sectors.

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