HRD Corp has significantly expanded the support for internships through the Industrial Training Scheme (ITS). Employers can now utilize a much larger portion of their levy to nurture and develop students from higher learning institutions.
A major update in the 2024 terms is the levy allocation increase. Employers can now use up to 50% of their levy balance (as of January 1st) for internship allowances, up from the previous 20% limit. Additionally, the maximum duration for claimable industrial training has been extended from 8 months to 12 months.
The scheme covers the monthly allowance as paid by the employer, as well as one set of Personal Protective Equipment (PPE) and insurance coverage. This enhancement encourages companies to provide longer, more meaningful work placements, ensuring that graduates are better prepared for the formal sector.
