Custom Metadata and Custom Permission when retaining a deleted document forever

We want to apply this retention policy to some sites:-

Mainly to keep the documents forever. But my question, let say a user delete a document from a SharePoint online document library, and the file get deleted from the first stage recycle bin and from the second stage recycle bin of the site either manually or after 93 days. then where the file will be stored?

second question, if the file has custom metadata applied to it, such as Managed Metadata or Choice field or custom permission .. what will happen to those metadata and permissions?

Third question, does the above retention policy allow us to restore the retained files to their original locations?

Thanks