L1 B expiring, I-94 valid, Questions on fresh blanket and H1 B

Currently I am in US with an L1 B which is valid till March 2014. My I 94 is valid till October 2015.can I apply for H1 B during 2014 april CAP?

These are my areas of concerns, any suggestions on this is highly useful

	My employer said that since my I 94 is valid, I don’t need to apply for an extension. Is it ok to be working without a validity in Visa, but validity in I94 ?

	Employer says that if I go out of US for a vacation after March 2014, then I need a new blanket to be filled to come back to US.

           Is it not possible for an extension of L1 Visa instead of fresh blanket when I am in US?

	Can I apply for H1 B under CAP on April 2014? My L1 B will be expired that time, but I 94 will be valid.

	Also if I apply H1 and worst case it gets rejected. Will my I 94 goes invalid ? (my I 94 is valid till October 2015.


Since I am here with my family, it is highly useful if I can plan this in advance.

Thanks much
  1. You can continue to stay and work on L-1 until your L-1 I-94 expiration date. It is ok for visa stamp in the passport to have expired in b/w.

  2. I think he meant the same. Both require same paperwork as long as your eligiblity and qualification is the same.

  3. Yes, you can

  4. No impact on your current I-94. If H-1 is denied, you can still continue to work on L-1 on the basis of that I-94.