H1 Transfer received RFE

[SnK81]

Hi,

I am in very critical situation now,I was working with company X and I applied for my H1 transfer to company Y on 15th June 2011 on premium basis, company Y received RFE and need to submit doc by 08/12/2011 but my current visa is going to expire on 08/08/2011. When I talk to company Y they said once you have receipt from USCIS you can work here for next 240 days, but my concern is once my Y company will submit document to USCIS asked in RFE and after that if due to any thing my transfer decline after 08/12/2011, then what will be status, because my current visa will not valid that time, can I stay here for next 240 days as they said or can I apply for new transfer with other employer after getting decline decision from USCIS?

Thanks in anticipation