I want to be clear about the advantages of TPS before i go for it. Can you please clarify my below queries?

Some of your questions can be answered by reading the description of TPS on the USCIS website (link below). For information tailored to your specific situation, you should otherwise consult with an immigration attorney.

Having TPS will have no effect on your eligibility for H1B and is also unrelated to your F-1. If you want to adjust status to another, you would need to stay in status, F-1 or any other. TPS itself allows you to stay in US but does not confer legal status. TPS also has nothing to do with your ability to get a green card, except that it may afford you the opportunity to obtain Advance Parole and, if you entered the country without inspection, come back and be paroled, thus meeting one of the eligibility requirements for adjustment, that you have been admitted or paroled.

TPS is a humanitarian program. US Government does not have to provide it to anyone. Providing it is an exercise of good graces by the American People to those in need. This good grace offers you a permission to be here legally, work in the USA and even return from a humanitarian trip abroad with AP granted prior to the trip. Whether to apply and seek the protection is up to you. If you are not in need, do not apply. Return to your country and have a happy life there; stay on whatever status you are now maintaining in the USA or apply and continue maintaining your status. You have options and this is all because of the good heart of the American People.