When company can terminate my employment?.

Hello to everybody

I am on PSW visa and it would expire after one week. Two days before, i applied Tier 1 Entrepreneur by showing access to £ 50,000. I am working in a company. I have few questions in this regard

1 How much time UKBA is taking to issue acknowledgement letter?.
2 If i show acknowledgement letter to my company they immediately terminate my employment as there is employment is allowed in that category OR they would wait for the outcome of my Tier 1 Entrepreneur stamp on my passport?.

THANKS

Technically the employer does get statutory excuse provided they did the 'right of work' check for the applicant when the leave or visa was about to run out. What happens in reality is that no employer would bother to do that and in most cases you will not be allowed after the expiry of your leave or visa. I doubt that the acknowledgment letter is going to help you in this case. (depends on employer actually)