Objectives
With the objectives of providing better employment opportunities to the skilled workers working in the unorganized sector in Kerala, transforming the unskilled workers into experts in the relevant field through skill development training, providing the required work tools to the workers and providing a better work-friendly environment to the society, the Government of Kerala aims to form one or more Industrial Co-operative Societies within the territorial boundaries of each Local Self Government Institution in the State and accordingly those working in different occupations has come forward to achieve the target. The Government has formulated a financial assistance scheme under the Department of Industries to promote such Industrial Co-operative Societies providing service of skilled and unskilled workers identified in various sectors to the needy people.
Beneficiaries:
Industrial co-operative societies formed to implement the objectives to find better employment opportunities for workers engaged in various types of employment in the unorganized sector and to bring skilled workers into the mainstream through skill development training are eligible for the benefit of this scheme. Moreover, the members of the Skill Enterprise Development Co-operative Societies should be from the technical, semi-skilled / unskilled workforce who has obtained technical skills certificates working in the unorganized sector.
Eligibility
- Industrial Co-operative Societies formed to implement the objectives of providing better employment opportunities to workers engaged in various types of employment in the unorganized sector and bringing unskilled workers to the mainstream through skill development training are eligible for the benefit of this scheme.
- Societies registered during or after the financial year 2019-2020.
- Societies have at least 50 members. In that, at least 25 members should be skilled workers and the remaining 25 members should be semi-skilled / unskilled workers. Nominal number of members is not taken into account for financial assistance.
- The societies applied for assistance under scheme should have a elected board of Directors and paid secretary.
- Each member should have been given at least 5 average working days in 3 months before date of application for financial assistance. At the same time, societies formed within 6 months are not eligible under this scheme.
- Only societies which maintain proper records as prescribed by the Registrar are eligible for financial assistance.
- There should be 100 active members to be eligible for the maximum benefit of Rs.2 lakh.
Financial Assistance under the scheme:
- The maximum benefit per society under this scheme will be Rs.2 lakhs. However, the amount of financial assistance will be determined only subject to the submitted documents, information and other terms and conditions of guidelines. 78% of the total allocation will be for fixed asset creation, 20% for working capital and 2% for training.
- The number of members in the group will also be taken into account to calculate the financial benefit to the group. There should be 100 active members to be eligible for the maximum benefit of Rs.2 lakh. Financial assistance will be decrease in proportion to the decrease in membership.
- Societies which do not receive maximum benefit due to less membership will be entitled to the remaining amount of financial assistance as long as the scheme exists, if the membership rises above the prescribed criteria. But in any case, it will not allow more than two times.
- The societies which availed the assistance for raising fixed capital assets should be calculated as 80% of the amount and balance amount other than grant amount may be arranged by the society. The amount received by the group for raising fixed capital assets should be calculated as 80% of the amount and the remaining 20% should be found on its own. The societies have to find its own amount equivalent to the amount received as working capital assistance. Expenditure incurred for the purpose of land and building is not taken into account for financial assistance of fixed assets. Tools, furniture, electrical and electronics equipment and essential machinery will be considered. The cost of fixed assets acquired prior to the commencement of the scheme, will be considered for financial assistance and the amount spent will be refunded. However, the documents should be produced properly.
- Working capital will be sanctioned at the rate of Rs.1000 / - per number of active members.
- The grant sanctioned to the society shall be released through the bank A/C jointly by the society & General Manager, District Industrial Centre and will be withdrawn only with the permission of the General Manager, DIC.
Check List:
- Copy of previous year Audit certificate/Financial statement
- List of work days of each member in previous year(monthly)
- Details of required components for financial assistance
Directorate of Industries Commerce, Vikas Bhavan P.O,Thiruvananthapuram Kerala 695033
industriesdirectorate@gmail.com
