Quit from current employer before H1 Transfer is initiated


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Recently got offer from a good company and waiting for H1 transfer. My current project assignment is expected to end by a month time. In case I am asked to go back to India before the transfer is initiated, can I quit my current employer and stay in US for some time until the new employer files the transfer?. I heard that we can be in US in H1B without employment for a month time, is this true?

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