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Disadvantage is off-role companies may not give you the same ctc as offered to on-role employees with same exp. Also while switching, hike depends a lot on the current company.
Chief
Don't unless you really desperate. Policies may not be followed. I know organizations not paying salaries.. not honoring NP and not giving servjce letters etc. These 3rd party if they small later BGV may fail as these comlanies may windup. Also its hire and fire and there is no bench policy. You won't enjoy the benefits that full-time employees work and wlb is sually bad any team will try to give better work exp to their own people and not contractors.
Chief
Now don't think too much .you don't have an option so may be this is God send. Still keep looking for a full tike opportunity is what I can say