PayPal India re-enforces commitment to be an Employee first company; becomes an early adopter of the Adoption Assistance Program
PayPal India today announced a new Adoption Assistance Program. The announcement is a part of the company’s continual effort to enhance the parental support benefits for employees. The new policy will offer financial support of up to INR 1 lakh per adoption for adoptive parents. This covers reimbursement of adoption expenses such as CARA registration, child placement, foster care and establishment of legal guardianship.
PayPal offers paid adoption leave of 16 weeks for female employees and paternity leave of 2 weeks. The move is a part of PayPal’s endeavor to ensure a work- life balance for employees keeping in mind the evolving family dynamics and work culture. This leave must be used in one block and cannot be carried forward or accumulated. Any unused adoption leave will lapse.
An employee who intends to take adoption leave is requested to give [two months'] prior notice to his/her [manager and the Human Resources Department].
“At PayPal, fostering an open, diverse and innovation-driven culture is essential for our employees to be at their creative best. As part of this effort, we have enhanced our parental support benefits for adoptive parents so they have constant support throughout the process and can truly embrace their journey of parenthood,” said Jayanthi Vaidyanathan, Senior Director, Human Resources, PayPal.”
Parents can also avail counselling assistance or tips on parenting from PayPal’s Employee Assistance Program.
Other parental support programs include:
IVF/Infertility treatment coverage under medical insurance
Maternity expenses coverage under medical insurance
Maternity leave (26 weeks), paternity leave (2 weeks), extended maternity and paternity leaves (need-based)
Childcare@PayPal, where children can be enrolled in a near-site daycare or reimburse daycare expenses up to INR 10k per month
The new Adoption Assistance Program is effective from Dec 2019.
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 286 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.