What is the grace period for H1b?
If I quite my current job, how long can I stay before I can find another one and petition a new H1B?
Please help.

Formal: 0 days
Informal: 10 days

There is no formal Grace period for H1B.
You have to have new H1B from a different sponsor before your current sponsor terminates your H1B status.

from www.murthy.com
Question 4. Do I have to file something to request the grace period or to let the government know I am using this time?
©MurthyDotCom
No. The grace period is permitted within the law and does not have to be requested specially or separately. There are no filings that need to be made to utilize this benefit. Note that this applies to F-1 and J-1 grace periods. Most other statuses, including H1B status, do not have grace periods.

from http://www.studentaffairs.cmu.edu/oie/forscho/h1b/legal.cfm

Maintenance of Legal Status
In short, for an H1B employee to maintain legal status, s/he must continually engage in the employment described by the employer in the H1B application to the USCIS. Should any employment details change - the employer, the job title or duties, salary, location, etc. - then the H1B employee should consult with the employer or immigration attorney and a new or amended H1B petition must be submitted to the USCIS.

Grace period. There is no formal "grace period" (beyond a generally assumed 10-day period) in H status. (This situation is unlike the clearly articulated 30-day grace period for J holders and the 60-day grace period for F holders.) Therefore, when a job ends, the H1B status ends too. This can be problematic if a person suddenly quits or looses his/her job. An employee should speak with an immigration attorney to understand the options before the job ends, not after!

Dual intent. H1B status carries "dual intent." This is an important distinction and difference from F or J status. "Dual intent" implies that a person may choose to return to the home country or may choose to move into permanent residency (or immigrant) status in the US. This issue is helpful when applying for the visa stamp overseas - unlike an F student or J researcher, an employee will no longer need to "prove" the intention to return home after program completion. "Dual intent" is also the reason that OIE and many attorneys will advise a person to obtain H1B status before applying to permanent residency in the US.
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Division of Student Affairs - Carnegie Mellon Home

I also have a similar question.

So if I get a new job within 2 weeks after I quit my job and that they file for my H1B petition, will I have violated the law?
And what if I get the job back from my previous employer within 2 weeks? How will that affect me?

For example, I quit my job on August 18th, and they end my employment on that day.
Now I get the job back on August 31st, and they file a new H1B petition. How will that affect my status during the time I was not employed?

Push

YES, you'll be out of status.
One of my friend had similar problem.
He got laid off.
Fortunately he found another sponser within 10 days.
But that still counts as being out of status as USCIS doesn't recognize grace period for H1B. It depends on whether your employer notified USCIS and revoked your H1B. Just getting laid off doesn't mean USCIS knows that right that moment.
from http://www.allaboutvisas.com/faq_h1blotw.htm#1
That 10 days grace period is for:

The H-1B worker can be admitted to the U.S. up to 10 days prior to the validity of his/her visa petition

The H-1B worker has a 10 day grace period following the expiration of the period of admission

In the case of denials of extension, the H-1B worker is given up to 10 days to depart the United States

As far as I know and understand, you can not stay here more than 10 days after H1B is gone without being out of status.

Q: I was employed in H-1B status until last week when I was laid-off. Am I considered to be out of status now?


Yes, the USCIS has not changed its view that a person in H-1B status who is laid-off is considered to be in violation of his/her status. Many who find themselves in this situation have a new employer file an H-1B petition as soon as possible after the lay-off has taken place. If the individual is no longer working at the time the H-1B petition is filed, the H-1B petition can still be approved. However, the USCIS, while approving the petition, may require the individual to travel outside of the U.S. and obtain a new H-1B visa.

After I've been laid-off, what happens if my employer notifies the USCIS and revokes my H-1B petition

There is no requirement that an employer notify the USCIS that it has terminated or laid-off an H-1B worker. The good news is that the USCIS is slow at this point in terms of processing H-1B revocation notices. Generally speaking, it can take several months for the USCIS to actually process the revocation notice. However, if an individual is attempting to find another job, it should be done as soon as possible after the lay-off or termination takes place. The new employer should not delay in filing the new H-1B petition. If you have been out of work for some period of time, you may not be able to present the current pay stubs as proof of your continuing H-1B employment. As such, as referenced above, it may be necessary to travel abroad to obtain a new H-1B visa, if the H-1B extension is not granted.

I was laid-off last week. What are the options available to me?
An H-1B employee who has been laid-off has several options depending on the person’s individual circumstances. It may be possible for the individual to change their status to one of the following categories:

F-1 (Student status)
H-4 or F-2 (Dependant of an H-1B or F-1 spouse, respectively)
B-1 (Business status)
B-2 (Tourist)
The good news is that the USCIS has made it clear that a laid-off H-1B worker may apply for a visitor’s visa in order to secure employment. Unfortunately, if the individual changes their H-1B status, they may be subject to the yearly H-1B cap.

Once terminated, the USCIS would prefer to see each individual leave the United States since they are no longer working in H-1B status. However, given the difficulty in securing employment from abroad, many laid-off H-1B workers attempt to secure new employment while remaining in the United States. Some choose to seek new employment without changing status while others may feel more comfortable filing a Change of Status application while continuing to seek new employment.

This area is certainly a complex area and no general answer can be given. If you find yourself in this situation, you should quickly seek competent immigration counsel to assist you in the process.

What are the consequences of falling out of status?

As most of you know, the consequences for not maintaining H-1B status can be quite severe. If a permanent resident case is pending the out of status individual may not be able to apply for Permanent Residence in the United States and will have to have an interview in his/her country of origin. Moreover, if an individual remains beyond their authorized stay for more than 180 days, they quite possibly could be subject to a three year bar before they can return to the United States. An individual who remains in the United States for more than one year beyond his authorized stay and departs the United States, will not be able to return for 10 years. It is important to note that there is a distinction between an individual who remains in the United States “beyond their authorized stay” as opposed to an individual who is “out of status”. Again, this is a complex area and competent immigration counsel should be consulted to develop the best strategy if maintaining status becomes an issue.



For more info, follow the link:
http://www.allaboutvisas.com/faq_h1blotw.htm#1