H1B expiring by Jan25-2014, chance of extension as Project ending Jul-14?

Hi ,

My H1B visa is expiring by end of Jan 2014, and I’m about to file for extension through my employer, the client letter and SOW are going to have end date of project as Mid of July, 2014.

If my employer is applying for H1B regular extension by mid of Nov 13

  1. Will I be able to find out the extension status before Jan mid?

  2. What are the chances of extension as my SOW and client letter showing project end date by July, 2014?

  3. Should I go for Premium processing to know the extension status right away?

  4. Is it advisable to switch to different employer as full time where there is a possibility for extension for more than one year of H1B transfer?

Thanks in Advance for your help. --K