L1 to H1B and India travel query

[iaquil]

Hi,

I am on L1B with I94 expiring on April 2012 from Company X, I found an employer Company Y who will file my H1B in June/July 2011 under premium processing. If H1B is approved then:
1. Can I work under Company X till Sep end and join Company Y from 1st Oct without any hassel?
2. Will my status will change automatically from L1 to H1 from Oct 1st onwards?
3. Will my new H1b will be valid until April 2012 only? as my current i94 (on L1B) is till April 2012?
4. I can travel to India and return in Sep 2011 using my existing L1B? Will there be any problem in port of entry? I have traveled using L1B to-from India multiple times, but I am concerned now because I will be having H1b approved along with L1B.
5. Is there anything special I have to ask the employer before filing H1b so I can go and return from India on my L1b status?

Will appreciate response.

[immihelp]

It all depends upon your H1's LCA dates.

As soon as your H1 is approved, you are no longer on L1 and must work for H1 employer.