I am currently in India and I have left the company which had sponsered my H1 visa. The H1 visa is currently approved by is not stamped yet - I had resigned before the stamping process began. I am now planning to do my masters in US. Could there be any issues if I go for an F1 visa stamping now?
I don’t think so. You will still have to show that you are not a potential immigrant and will return to home country at the end of the studies. In addition, you can be asked why you selected this school and course, and also how you plan to support the education.
After my masters, would I need a new H1 to work or can I use my existing petition that is valid till 2015?
You will need a new cap-exempt petition for this as the job duties may have changed and so will have the employer. You don’t need to go through the cap again.
A new cap-exempt petition is the same as H1 transfer?
Yes, they are the same.