Can I Transfer my H1 immediately after Oct 1st (start date)?

[nvspratap]

My H1 starts from this Oct 1st, 2012. Now I am trying to transfer my H1 to another company. My questions are,

1. Do I need to wait for some buffer period to start the transfer process?

2. Do I need to have any paychecks on H1 (as I just came from OPT, I don't have any paychecks on H1)?

Thanks for your time,

Pratap.