Is H1-B still valid after petition expiry date? what exactly is cap exempt?

I am currently working with top MNC that applied my H1-B visa with H1B Petition Valid From: 10/1/2015 H1B Petition Valid To: 9/30/2016 . It says in October it will get expire but within 6 years from the petition approval, I can apply for cap exempt. Does that mean after October I still have visa for 6 years, but it had to be renewed and I do not have to go through lottery system and all? Please clarify?

TIA

Yes, you don’t need to go through lottery again in next 6 years. So any employer (same or old) can file a cap-exempt petition for you in say 2018, and it will not be subject to cap.

Ensure that you keep a copy of current 797 approval notice and H-1 pay slips (if you are inside US on H-1) for future reference.

Thanks for the reply…
I just want to clarify that even if I dont fly before October then also the above said conditions are valid?

Yes, the answer remains the same even if you don’t fly before Oct.