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HSBC India tweaks childcare policy to benefit women employees

Women employees can now claim reimbursement for day-care expenses until the child turns six. This is up to Rs 18,000 per month in Mumbai, Rs 13,500 per month in National Capital Region, Bengaluru and Pune and Rs 10,000 in other cities.

, ET Bureau|
Oct 23, 2019, 02.03 PM IST
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The company said it is the only organisation in the industry to introduce a fixed monthly childcare allowance for returning mothers.
HSBC has enhanced its childcare benefit policy to help women employees in India. Last month, the British bank raised the maximum age limit of children supported for day-care reimbursement threefold to six years from two years and also introduced a fixed monthly childcare allowance of Rs 10,000 for returning mothers who do not want day-care reimbursement.

The company said it is the only organisation in the industry to introduce a fixed monthly childcare allowance for returning mothers.

Women employees can now claim reimbursement for day-care expenses on actuals until the child turns six. This is up to Rs 18,000 per month in Mumbai, Rs 13,500 per month in National Capital Region, Bengaluru and Pune and up to Rs 10,000 per month in other cities. The reimbursement can be claimed on a quarterly basis until the child is six years old. In case of twins or employees with more than one child under the age of six years, the benefit can be availed for each child.

“With this policy, we have gone a step further to empower our women employees so that they can balance work life and motherhood better. This policy provides our working mothers the flexibility to choose the best from multiple childcare options for an extended time period,” said Vikram Tandon, head-human resources, HSBC India.

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