Ctrip will offer staff loans for family-planning fines
Ctrip, an online travel agency, is offering interest-free loans to staff who have to pay fines because they break the family planning policy by having more than the permitted number of children.
Ctrip introduced the loans at the start of the year. The company’s regulations say each loan should be no more than the central government’s drafted social maintenance fees.
The loan should be no more than three times the level of the employee’s after-tax income in the previous year, and should not exceed 200,000 yuan ($32,000). The repayment period should be no longer than 120 months.
Based on the average disposable income per household in Shanghai, a family is fined 160,000 yuan if it does not meet the qualifications to have a second child.