> I am new to the Canadian immigration system and am interested
> i applying for the PR. I guess I have a huge list of
> questions...
Please read the site http://www.cic.gc.ca/english/immigrate/
find the class you fit in, then read carefully several times.
> I am currently on my H1 in the US working as a computer
> engineer in the electronics industry. I checked out the point
> system on the website and came out with a score higher than
> the minimum required( i got an 83) assuming I will have a job
> offer in Canada.
That is huge assumption. "Job offer" basically the same thing as
the employer sponsoring you.
I assume you mean this is the (Federal) Skilled Worker class.
Please read http://www.cic.gc.ca/english/skilled/ carefully
several times.
> What exacty do I need to start the process, do I need an
> employer who is willing to sponsor me or do I just need a job
> offer and pay for the PR myself.
You don't need job offer (= employer sponsorship) if score is
adequate without it.
Keep in mind you are generally required to take the language
test unless it was your native tongue.
> What kind of a time frame and cost(in US$) are we looking at
> to receive the PR,
Depend on the visa office responsible for your region:
http://www.cic.gc.ca/english/department/times-int/02a-skilled-fed.html#all
http://www.cic.gc.ca/english/skilled/before-1.html
> and in the mean time will I be able to work in Canada using a
> visa?
No. Unless you can find a Canadian employer willing to sponsor
you.
> Can I add my spouse to the PR after I receive my PR or do I
> have to get the processing done simultaneously.
If you are married you are required to include your sponsor in
application, even if your spouse won't accompany you.
> And the last question is about sponsoring my parents for the
> same. Can they be included in my application process or should
> I wait for my PR.
AFAIK they cannot be included.
> If I do have to wait for my PR how long will their application
> take to clear?
Depend on the visa office responsible for their region:
http://www.cic.gc.ca/english/department/times-int/08-fc-parents.html#all
> and in the mean time can they stay with me in Canada?
No.

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(Stephan Paul) Arif Sahari Wibowo
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Disclaimer: IANAL, IANALP, IANAMD, IANAMP, IANAAP
my statements - if any - should be treated as such.