This article proposes modifications of the Parareal algorithm for its application to higher index differential algebraic equations (DAEs). It is based on the idea of applying the algorithm to only the differential components of the equation and the computation of corresponding consistent initial conditions later on. For differential algebraic equations with a special structure as e.g. given in flux-charge modified nodal analysis, it is shown that the usage of the implicit Euler method as a time integrator suffices for the Parareal algorithm to converge. Both versions of the Parareal method are applied to numerical examples of nonlinear index 2 differential algebraic equations.