H1B transfer with portability- employer unwilling to allow working on receipt notice

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I'm currently on my 60 day grace period as I lost my job last month. I found an employer who filed visa transfer application and I received the receipt notice earlier this week. However, the company is not willing to let me start with the receipt notice and want to wait till the case is adjudicated. I have 2 questions:

1) If the result of my application takes longer than the 60 day grace period expiry date, will I be out of status and need to leave the country? If the application eventually gets approved, will I be able to come back and join the company?

2)  Can I transfer my visa to my spouse's student visa and continue to stay while waiting for the results of my H1B transfer application? Are there any other legal ways to extend my stay?


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