Infosys Shares Dip Amid U.S. Scrutiny on Employer Eligibility

MUMBAI: Shares of Infosys slipped by about 2 percent on concerns that the company may face further heat as U.S.' 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, shares of the company further lost 1.79 percent to 2,363.05 on the BSE. Selling pressure dragged the company's stock on the NSE as well, where it was down 2 percent to 2,358. Weakness in the heavyweight stock pulled down the BSE index, sensex, 26 points down at 17,347.15 at 1150 hrs. In a filing to the Securities and Exchange Commission, the company had 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." 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 an I-9 form at the time of hire.