Prime Minister Employment Generation Programme
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About PMEGP
The Prime Minister Employment Generation Programme (PMEGP) is a central government notified scheme to generate the maximum employment in private sector by establishment of new units under Service Sector and Manufacturing Sector.
In this scheme government forward newly establishment units loan files through it’s nodal agencies KVIC, KVIB & DIC to applicant’s preferred bank. After completion of own due diligence the bank is give a finance under this scheme in nature of term loan and/or Cash Credit limit.
The scheme is empozered by Ministry of Micro, Small and Medium Enterprises (MSME).
Object of PMEGP Scheme
The main core object to the scheme is to improve employment in rural and urban areas by encourage entrepreneurship to setup a new units of manufacturing and service. The main object is also showing in the name of the scheme i.e. “Employment Generation.”
Who is eligible under this scheme?
Applicant Category | Subsidy in case of unit established in Urban Area | Subsidy in case of unit established in Rural Area | Self Contribution in Project Cost |
|---|---|---|---|
GENERAL | 15% | 25% | 10% |
OBC, ST, SC etc. | 25% | 35% | 5% |
The main core object to the scheme is to improve employment in rural and urban areas by encourage entrepreneurship to setup a new units of manufacturing and service. The main object is also showing in the name of the scheme i.e. “Employment Generation.”
How much loan you can get under PMEGP?
(a) If you starting a new manufacturing unit you can avail benefits on the project size of Rs. 50 Lakh and the capital subsidy will be provided upto 35% of the project cost.
(b) In case of Service Sector unit you may get benefits upto the project size of 25 Lakhs and the capital subsidy will be allowed upto 35% of the project cost.
In above both case, the minimum self contribution in the project should be 5% for OBC, ST, SC, women candidates and 10% for other candidates.
Condition to get subsidy under PMEGP
The main condition to get the subsidy under PMEGP is the business must be run upto 3 years after it’s commencement of business and after successfully run the business continue for the period of 3 year and providing the prescribe number of employment under your enterprises as per your sanctioned finance the Subsidy amount will be adjusted against your loan outstanding amount.
Documents required for application under PMEGP scheme
Aadhar Card
Pan Card, Photo of applicant
Project report
Cast certificate for OBC, ST, SC candidates
Popullation certificate if unit starting in rural area
Ration card for showing number of dependents on applicant
Last three years ITR (if available)
Personal insurance (if any)
Income Tax Return (if available)
Eligibility for loan under PMEGP schem
Step 1
Step 2
Step 3
(The project report and documentation work should be completed by the professional to avoid unnecessary rejections)
Step 4
Step 5
FREQUENTLY ASKED QUESTIONS
GST is Goods & Service Tax the name itself explains that the tax is imposed on goods and services.
• Visit the portal and fill with Part- A Form GST REG-01 of GST Registration.
• You will get a temporary reference number on your number and OTP verification.
• After that need to fill PART-B of Form GST REG-01.
• A confirmation will be generated in Form GST REG-02
• In case of any information is pending from your side. It will be required from you by suggesting you in Form GST REG-03. for this, you may be required to visit the office and define or give the documents within 7 working days in Form GST REG-04.
• The office may also decline your application if they find any mistakes. You will be up-to-date about this in Form GST REG-05.
• At last, a certificate of registration in Finally, a certificate of registration will be allotted to you by the department after verification and approval in Form GST REG-06.
A private limited company is a company that is privately held for small businesses. The responsibility of the members of a Private Limited Company is limited to the number of shares respectively held by them and its shares cannot be traded publicly.
You can learn about the Private Company registration using our expert services. This entire process usually takes 10-15 days to be completed. It would just need you to fill out a 10-minute questionnaire.
You can learn about the Private Company registration using our expert services. This entire process usually takes 10-15 days to be completed. It would just need you to fill out a 10-minute questionnaire.
You can learn about the Private Company registration using our expert services. This entire process usually takes 10-15 days to be completed. It would just need you to fill out a 10-minute questionnaire.