Cap-Exempt & H1 Transfer eligibility

Before, I start details on my case, let me share my current status of Visa.

Visa Type : H1B
Petition Lottery and Approval Year : April 2015
Year Arrived in USA : Not travelled on H1 status
Visa Stamping : November 2015
Visa Expired : September 2016
I-94 Validity : NA
Petition Validity : September 2016
Currently Present In : India

Currently, I have my original petition copy and H1B is valid but with little validity remaining (5months)
and client project for which H1B filed is no longer with the company. Because of which my company is
trying to find a new project for me from last November till date no success.

  1. My worry here is if my company is not able to find me any project till petition or visa validity then what are my options or will I be option less?
    Company mobility team tells me that since I have not activated my visa (i.e travelled on H1 status) petition can be amended anytime in the next 6 years i.e 2021 (even with original petition expiring September 2016) under the cap-exempt mode. And with modified petition I can get visa stamping once again and travel to USA with no hassels.

  2. How true is this ?

  3. If I try to find a new employer I hear my current employer files a petition revocation with USCIS. So will the new employer be able to file transfer my H1B even if this happens or will my H1B candidature be risked?

1,2. Yes, it can be used within 6 years of approval date even if current petition gets expired. A cap-exempt petition can be filed by same or different employer.

  1. Withdrawing the current petition still allows another employer to file a cap-exempt petition for you.