Hi Romit,
The “Office 365 for Home” you mentioned, do you mean Office 365 for Home Premium Preview?
If so, Office 365 for Home Premium Preview is the next generation of Office, it contains powerful new versions of Word, Excel, PowerPoint, Outlook, OneNote, Publisher, and Access and some other powerful services.
However, it doesn’t provide the online service (e.g. Exchange Online, SharePoint Online) which provided in Office 365 P1 plan as you used now.
Reference
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Office 365 Home Premium Preview
Thanks,
Eric Sun