H1b will expire Oct this year and I need to leave US for 365 days. I want to come back to US 365 later and also Company wants to rehire me. So, can company fill the H1b application April 2013 and I can start work Oct. 2013?
-Yes.
or company had to wait 365 days and fill my H1b application?
-No. The 6-year H1 limit only applys to you, not the company. So, you can not get the H1 visa to reenter US until you stay outside US for at least one year.