Job loss on H1B - things to do

Puppu

New Member
I have been on H1B for past 3 years and my employer recently filed for an extension. However, given financial markets turmoil, I am concerned about economy downturn and job loss. If I happen to loose job, what should I do to be on legal status till I find another job ( 1-2month process )

1) I heard there is no grace period. However, up to a month is fine usually and USCIS doesn't mind if one can show a month old pay stub. Does that mean, i can have 1mo till i find new employer to file for H1 transfer? Can people who have seen anything otherwise comment on this?

2) If I file for transfer to visitor visa, and then file for H1 once i get new employer ( say 1-2months ), will i be considered against Cap? If not, will I be able to start working as soon as new employer file for transfer of H1 ( after say 2 months...is it still called transfer? )

3) Can an employer terminate job within 90days of filing extension( i heard of rule of 90 days period during which an employer cannot fire after immediately filing for H1B ). However, in this case its an extension.
 
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