Pros
Nothing to mention except on time salary (that too sometimes cut for 4 days due to business situation)
Cons
Zero job security for new joiners since they have policy to remove employee forcefully on basis of last employee first out (For management: we are not goods FYI) if business is not doing well. They will simply tell we will manage with existing employees. Then why are you opening job positions? They will one fine day call new joiners and ask you to write resignation letter without second thought. We come to serve for you, but does the company even care about its employees or their families. Not even notice, simply compensate basic pay and remove. Strictly speaking an unethical behavior. Behave professionally and ethically and so shall your business shine.