Hi @Sudarshan_Gajavaradh,
Filing I-140 in Premium
You should file I-140 in premium if you want things to move fast.
If you file in normal processing, the chances of approval before June 30, 2018 are extremely low.
Current standard processing time for I-140 is more than 7 months!!
https://www.truvisa.com/t/current-i-140-processing-time-nebraska-texas/193
Apply change of status H1B to H4
Yes, you can convert to H4 based on your wife’s H1B.
If you really want to do it, I would suggest to do it as early as possible and before June 13, 2018.
At this time, USCIS is taking more than 4 months to process changes of status applications.
Remember, there is no premium processing available for H4.
Also, you the COS is NOT applicable unless it is approved.
NOTE:
In your specific case, since you are completing 6 years on June 13, 2018, you will NOT be able to stay in US even if you file H4 COS and it is still PENDING.
You have to have any one to be TRUE to stay in US beyond June 13, 2018:
- H1B extension pending based on I-140 or PERM pending > 365 days OR
- H4 COS is APPROVED, not pending OR
- H1B Extension approved for period beyond June 30, 2018. For this to happen by June 13, 2018 both your I-140 and H1B extension has to be filed in Premium and should be approved.
My suggestion
It is better to go out of US on June 13, 2018 and return by getting H4 stamped at US embassy. This would be much easier and faster than applying for COS to H4.
Coming back to H1B with approved I-140
You will normally file H1B application using your I-140 requesting for extension beyond your 6 year mark.