What are the tax implications on the foreign company ESOP sell profits?

Ans: we have a double taxation treaty with US, so its better you sell there, pay taxes in US and get that money in your Indian Bank Account

Ans: Any profit arising on the sale of shares allotted to you under the ESOP or any similar scheme is taxed under the head “Capital Gains" in India. The profits made on such shares shall be taxed as long-term capital gains if these shares are held for more than 24 months. You are entitled to claim indexation for computing the long-term capital gains. Long-term capital gains are taxed at a flat 20% after indexation. If the shares are sold within 24 months, the profits shall be taxed as short-term capital gains. The short-term capital gains are treated like your regular income and get taxed at a slab rate applicable to you. The holding period shall start from the date of allotment of the shares and not from the date of allotment of the ESOPs. I presume your employer had deducted/collected tax on the difference between the fair market value of the shares and the exercise price on the date of allotment. So when you sell these shares, the fair market value of such shares on the date of allotment shall be treated as your cost. Any excess realised over such cost shall be treated as capital gains.

Ans: What I understand from your question is that you are looking for the options to save tax, when the Shares have been allotted to you.
In case of Allotment of Shares by a company to its employees on concessional rates, the difference between Allotment price & FMV (Fair market Value) shall be taxable in the hands of employee as fringe benefits.
In your case, since the Shares are not quoted on any Recognized Stock Exchange in India, its FMV (as on the date of allotment of shares) shall be determined by a merchant bank. Your company shall get this valuation from a merchant bank & all employees can take its advantage.
If you further want to save tax, you should adopt tax planning of your salaried income in a normal way (like u/s 80C, 80D, 80G etc.etc.).
Most Welcome for further clarifications, if any. Thanks.