Thanx A0001.
So as per your response :
1) If I loose my job in future or if my company shuts down , my GC will not be impacted. All i need to do is to transfer my H1b to a new company...right ? I was under the impression that I can just join a new company using my EAD and keep my GC process going ...is this not true ?
[MD2001] Since your 140 is approved there is very little chance that your 485 will have problems but H1 extension for three yrs is a good backup option.
2) If my I485 gets rejected , the extended H1B visa ( for 3 years ) will not be impacted. So , I can transfer my H1B visa to a new company and maintain my legal working status...right?
[MD2001] If you want to maintain your H1 status then you have to transfer it when you leave the current company as they are legally bound to terminate your H1.
You may face problems (even though possible) if you want to extend later when your 485 gets rejected. you might be forced to go to India for a fresh stamping as they don't issue i-94 if there is lot of gap between the transfers.
Sit and think about this:
1. Since your PD is Aug 2004, it definitely takes while for your PD to be current, that means there is no problem for getting EADs/APs.
2. See whether your H1 extension for three years is really serving the purpose. If you join a good employer for longer time then there won't be any issue, otherwise you have to bear h1 transfer fees each time if u work for a consulting company, they might not pay since you have EAD.
2. Keep an eye on the immi reform bills that are going to be introduced in Feb which might give some relief to retrogression.