H1b to H4- EAD status


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Planning to transfer my H1b to H4- EAD status. Here are the few queries  covering from basic:

Greatly appreciated if we have  few suggestions.


1. My husband is on H1 B from 2012 and has approved I-140. Are we eligible  for the new h4-EAD rule? Should my husband employer only apply H4 - EAD?


2.How does H4-EAD work, Will I be able to work on any company's payroll as W2 or only my husband's employer W2?


3. After the H4 approval notice, should the H4-EAd be applied or can it be done simultaneously.


4. How long would the process take?


5.When the transfer H1- H4 is initiated, should I be still working on h1?


6.Will I be in  valid status in USA if I stop working  after initiating the transfer ?


7. Is USCIS accepting applications only on May 26th  or there is no such deadline like the H1b (April 1)


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