H1 B expired,renew option

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My h1b will get expired on 6th sept 2011.I am in India since febuary 2011 so i can not renew untill I am back to USA.if I find job with a new employer in March 2012 ,can they apply for my h1b (renew or use remaining 2.5 yrs of h1) and can i immidiately start the work?

or should I need to apply for new h1b in april and start working only in October 2012.

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You cannot renew your H1 once it has expired. You can only file for fresh H1. If you file it in 2012 (starting Apr 2012) then it will be valid from Oct 1, 2012.

However, if you do come to the US now, using the current H1 visa, you can file for an extension immediately. This, of course, depends on your current employer.

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