H1B COE or H1B Transfer

[User1105]

Can I stay with my Current Employer (for whom I am currently working now) after my H1B COE gets approved for a new employer (I haven't started working for them yet)?

Question 1: Can I stay with my Current Employer (for whom I am currently working now) after my H1B COE gets approved for a new employer (I haven't started working for them yet)? 
Question 2: Will I have to be concerned about "Last action rule" before making a decision?
Question 3: If continuing with current employer, do the current employer needs to retransfer H1B back to them?

Thanks in Advance for your response.

[User099]

1 Yes

2. Last action rule will not apply to you as you are not changing visa status.

3. No, there is nothing to transfer. If you are not going to join new employer, let him know and he will withdraw the H1. Current employer need not know or do anything.