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Is it true that ESOP cannot be assigned without audit ?


13-Dec-2023 (In Corporate Law)

The company where i work got incorporated 3 months ago . At that time employer promised me 2% equity and said that i work for less money , after that i started working two months passed and i asked question about equity they said they will be able to give it after first audit of the company expenses . is it true that you cannot assign ESOP without audit?

Answers (2)

Answer #1
958 votes
Does the employer have in place an ESOP Scheme? Read this and perhaps it will give you a better insight on how ESOPs work. They have no connection with an audit.

http://yourstory.com/2015/09/esop/
Answer #2
621 votes
Dear Concerned,

It is true that for a proper valuation of the Stocks, Audit is a must. However, in your case, you should obtain the commitment of the ESOP from the employer through some email or agreement.

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