Travel to India during H1B and H4 extension process

[abhi8]

Hi All,

i have a question regarding travelling to India when my H1B and wife’s H4 are under extension. our existing visas are valid till end of march 2020 but we have to travel to India and get back during mid of Feb 2020. extension for both of our visas was applied 3 months ago and still stays under process.
could you please let me know what are our options.

1. can we travel on existing visas and come back at such time (one month before current visa expiry and extension already applied)?
2. what will be the case for our I94 that will get updated when we come back to US and how can we get it updated in the extension applied?

thanks in advance!