H-1B was approved this October 1st. If my employer plans to revoke this, is there any time limit i.e. they cannot revoke until ‘x’ time has passed etc.? Please let me know. Also, once employer has filed for revoking, are they supposed to inform me right away - is there any rule around this i.e. they have to give me notice before they file for revoking or they have to inform me as soon as they file etc.? Thanks!
There is no time for revoking, the employer can revoke anytime.
Yes, usually when you are removed the employer usually mentions that they will proceed towards revoking of your H1 as you no longer work for them. Sometimes they understand your situation and wait (usually few weeks to a month) until you get your H1 transfered to another employer. You may request them to hold on till you find another employer for transfer and it is up to them to consider your request ( there are no rules for this)
i think, you have time until you receive a notice from USCIS. Usually, the USCIS receives the revoke petiton, processes it and sends you a notice.
Even after the H-1 petition is revoked, another employer can file cap-exempt H-1 petition for you. That is not the issue.
However, if you want to get this done while continuing to stay in US, then it needs to happen in a way that you continuosuly get paid. If you don't get paid for the month and then apply for H-1 transfer, there is a good chance that it would still approved but w/o any I-94 (you will have to leave US, and then re-enter US on stamped H-1 visa).
Usually the employer informs USCIS about the termination within 30 days. They can take less or more time, but once they terminate your employment you will stop getting paid and start accumulating out-of-status. Also, they are not legally required to tell you when they inform USCIS about it.