No person may be excused from attending and testifying or from producing books, papers, correspondence, memoranda, and other records before the chairman of an appeal tribunal, the bureau or any member thereof, or any duly authorized representative of the bureau, in any cause or proceeding before the bureau, on the grounds that the testimony or evidence, documentary or otherwise, required of the person, may tend to incriminate the person or subject the person to a penalty or forfeiture. No individual may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which the individual is compelled, after having claimed the individual’s privilege against self-incrimination, to testify or produce evidence, documentary or otherwise, except that such individual so testifying is not exempt from prosecution and punishment for perjury committed in so testifying.