My name is Abhishek & I worked with Omnitech InfoSolutions for nearly 2.8 years in Business Development profile. So far in my 10 years career this was the worst employment experience.
To start with, I was given wrong information about the job location. An unacceptable employment contract was given to me after 3 weeks of joining which I strongly opposed and made them correct it before I finally signed it.
The organization has dubious practices and HR policies to support it, During my short onsite assignment to Singapore I was given accommodation in Red Light District in Singapore. My expenses were cleared after 6 months with 30% deduction for extended (official) stay.
As a part of my job profile I invited few vendors to work with us, The organization delayed their payments by 4 months and it has damaged my relationship with all those vendors.
The company forces you to pay the hotel bills and all travel expenses from your own pocket and then tries every trick in the book to refute the claims. I was given an excuse that they wont reimburse my hotel bill worth 25k due to late submission of bills.
In my 2.8 years of employment, not once the salary has come on time, it was delay of few days to few months. They were kicked off by all the banking partners and I have seen 3-4 banks changed in this duration. This has become big issue as no bank was offering loan to employees due to uncertainty in disbursement of salary.
The company had zero cash balance all this while and never had buffer for salary. i.e. if they get money from client in that month, only then they can disburse salary. This clearly not expected from a 400cr+ company in existence for more than 25 years.
About Management:
The company is a garage start-up and have seen a tremendous growth during last decade, however the company could not scale in terms of process and employee skills. Incompetent "Favorites" have failed to live upto the expectation of growing operations and revenue. Its always difficult for a listed company to survive if so many "relatives" are inducted higher up in management.
Financial Status:
The organization is in deep financial crisis thanks to mismanagement of funds and non calculated risks. The company reported losses of 46Cr+ in 2013Q3 and 26.48Cr+ in 2013Q4. The organization has submitted flash report for "Corporate Debt Restructuring" clearly telling that they have no capability of managing the huge debts. They misguided investors by declaring dividend when the losses in quarter was 46Cr+ and later taken back the dividend.
They haven’t paid:
FnF of employees who have left September 2012 onward.
They haven’t deposited TDS to government since January 2013.(hence no form 16, and still showed profit in 2012Q4)
Performance Incentive for Year 2012-13.
Salary since June 2013.
PF is not deposited since August 2013.(offense under section 420, and can result arrest)
Interest on FD schemes for 2 quarters.
Current Operations:
Data center at Mahape is closed down.
Operations in Singapore & Australia and other countries are suspended.
Employee strength reduced to 10%
Company has received numerous legal notices from employees, vendors, investors.
My claims:
I am filling legal case for settlement of FnF (3 months salary+ one year incentive+ mental harassment damages). The company has failed to clear the dues after 4 months of date of relieving. The company is not giving the date of disbursement or interest on the settlement amount.
I can go on and on mentioning the negatives about the organization which can fill lots of pages.
Positives:
Despite all the challenges, I had continued for 2.8 years due to the great team I worked with, we were few individuals driven by motivation to succeed, We tried our best to keep these challenges behind and succeed in our roles, but unfortunately we were always pulled down by this organization. I must appreciate my manager and delivery team to work against odds and supporting me.
Final words:
I wont recommend this company and I don’t see this company surviving for long. The management/HR are free to respond to this review.