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If you are in your penultimate or final year, you are eligible to apply for the YLP program. If you have graduated, but have less than 2 years of work ex, you are eligible to apply for the Early Entry Option After 2 years, you can apply for the PGP program directly.
The Early entry option and the YLP program are similar in the sense that you have to wait for a couple of years before actually joining the PGP program. Hope its clear now.