Infosys’ shares slipped about 2 per cent today on concerns that the company may face further heat as the US’ Department of Homeland Security (DHS) is reviewing its employer eligibility after finding errors in identity verification forms of some of its staff.
After a weak opening, the scrip further lost 1.79 per cent to Rs 2,363.05 on the BSE. Similarly, on the NSE, the shares were down 2 per cent to Rs 2,358.
In a filing to the Securities and Exchange Commission, the company had said that DHS is reviewing its employer eligibility verifications, after it found “significant percentage” of errors in Form I-9 of some of its employees working in the country.”
Form I-9 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 and every employee hired has to complete the Form I-9 at the time of hiring.