Like I said ok rana if you're not officially an employee there.
down side of this is that, you can't get your last pay in case you ask for it. (if they don't plan on giving it) your company is doing the illegal way of recruiting. if anything happens to you in your work, they can easily say "we are not officially connected to this employee." (hugas kamot) because you don't both have a contract to start with.
also downside is that, if the company feels like kicking you out before, they can easily do so. also about the regularization, you will have a problem with that also because you don't have a proper contract to when you started. even if you file a case about the company for not regularizing you, you will really have a problem proving on what date you started. unless if they gave you payslips, you can use that as evidence also.