Pros
1. You experience and learn dirty office politics which arises right from the top management. 2. You become a cost saving machine because salary is always delayed by 1 month. 3. You start valuing money more because you never get full salary amount. There will be deductions due to late coming and whatever other reason they can think of. 4. You become a visionary because the company doesn't have any and it is expected of you.
Cons
1. They won't deposit your taxes on time. Won't provide you Form-16 on time. Won't reimburse late fees if any. You'll become a laughing stock among your friends and family. 2. If you exit the organisation, they won't provide FnF. Won't pay you last 2-3 months salary. HR team is basically a proxy set up by the management to prevent riots within the organisation. 3. It's basically a service based organisation where you spend your life incorporating client specific changes. And with no clarity / freezing of requirements so it becomes an endless cycle of development-change-development-change.