Working as employee for a us based firm

Hi,

Currently I am working as a freelancer for a US based company. That company is thinking to hire me as an employee, but currently I am not having a valid visa to visit USA so company is asking to work from remote location (in india) unless they get the visa processed (in next 5-6 months) and then I can visit USA to work from there.

Is it possible to work as a full time employee for a USA based company while being in India? For information I was previously having L1 visa and worked for an Indian company at client location in USA but that visa is expired now.

- Amit