Dear Lalita Joshi,
This is in addition to what Mr Umakanthan M has written. He has given his reply from a legal perspective.
You have written that while joining the IT company, you were issued with the "Offer Letter". However, has the appointment letter been issued? This letter is issued, immediately after the employee joins. An appointment letter is a proper agreement between an employer and an employee.
Nevertheless, reducing the salary of a newly joined employee without taking him/her into confidence does not behove well for the company. It speaks of the mindset of the owner of the company. While HR may give a justification for a policy under which the salary has been reduced, it is a foregone conclusion that the employers use the shoulder of the HR to shoot. To save their faces, HR comes up with just some facetious justification.
You have two options now. The first one is to fight for your rights. For this, you may submit the application to the MD of the company for the restoration of your salary. If he does not reconcile, then you are free to approach the Labour Officer of your area. Please note that I am recommending approaching the labour officer and not the labour lawyer.
The second option is, of course, to accept it as your fate and move on. Nevertheless, it is not easy to continue with the bitterness at the very beginning of the tenure. However, whether to continue with the employment or not will depend on your financial needs and other domestic responsibilities.
General Comments: - Half a century is over since management science has recognised "human" as a resource. This resource does not depreciate and by harnessing the power of this resource, the companies the world over have made skyrocketing progress. On the other hand, a good number of companies believe that they can progress by laying a trap of employment for the unsuspecting employees. The progress and business expansion depend on the trust that employees repose in their employees. Nevertheless, not many employers understand the power of trust, and that is a tragedy.
Thanks,
Dinesh Divekar