Consular Processing

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My H1B Visa is going to max out in April 2018 however my Employer has applied my PERM in Jan 2018. In this case I will have to leave US in April. My employer stated that i can travel back to US once my PERM and I-140 is approved followed by Consular processing that needs to be applied from India. The Employer also mentioned that I need not apply for fresh H1 as I can entry US through approved I-140 / Consular process approval. Not sure how much of this is true. Could someone please help me in detailing out the correct process / way to return back to US.

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