Infosys Limited has dipped almost 2% at Rs 2,364 in morning trades on reports that the company is under scrutiny from the US Department of Homeland Security (DHS) for likely errors in employer eligibility documents of its staff working in the United States.
“In a filing to the Securities and Exchange Commission, the company has said DHS is reviewing its employer eligibility verifications, after it found "significant percentage" of errors in Forms I-9 of some of its employees working in the country," the PTI report suggests.
The I-9 form is used by an employer to verify an employee’s identity and to establish that the worker is eligible to accept employment in the US. Every employee hired has to complete an I-9 form at the time of hire.
A combined around 495,000 shares have changed hands on the counter so far on both the exchanges.
According to CRISIL, the Indian arm of Standard & Poor which rates over 9,000 issuers in India, credit ratings have fallen the most in three ...