Protection of oneself.

Upon filing of chargesheet by the police, if the magistrate sees that prima facie case is made out against the accused, then it invites framing of charge depending upon the nature of offence committed. At the most, the accused will be entitled to bail as "protection "stated in your question but the case shall proceed. In case there is any victimisation or the court finds that the case is frivolous, the accused is discharged but that can only be by way of trial.

No there is no legal provision to protect any person not to be prosecuted for the criminal charges. The right to bail is rule that helps person to remain out of jail till the final decision of the criminal matter in the court and after that he is out for all times or if found guilty and sentenced for imprisonment, is sent to jail for the period of imprisonment award.

The accused is presumed to be innocent until proved guilty, this thumb rule of criminal law only helps the accused from any undue harassment and onus to prove him guilty is entirely that of the prosecution.