GC Perm Labour and completing six years on H1B

Hi, I am On H1B and completing six years in october 2013. I have asked one employer to apply Perm labour in 2 weeks. My questions are a) If I don’t get Perm labour approval by ocotber last week what is the option. 2) is that I can go back to H4( since My wife is also working) if I don’t get approval then is it possible for me to work on Perm labour if it approves after Nov\Dec.3) If it approves after Nov do I need apply for H1 extention on Perm Labor. Please advice…

To get 7th year extension, either the PERM or I-140 should be pending for at least 365 days or both PERM and I-140 should be approved.

So in your case, you will have to move to H-4 status and later when either PERM/I-140 are pending for 365 days or the latter is approved, file COS from H-4 to H-1 along w/ 7th year extension.