I am currently on F-1. I have previously worked in US on H-1B for 5 yrs and 3 months. So I have only 9 months remaining on it. My questions -

1. After graduation, I am eligible for at least one year of OPT. If during that one year if my employer files a PERM and it gets approved, when they apply for F1 to H1B(this will not be capped) COS, can I get 9 months of my previous remaining H-1 time plus one year more H-1 time based on my PERM approval?

2. Can my employer initiate I-140 when I am on F1 status also? Or do I need to be on H1 for that? Is there a risk for initiating that when I am on F1?