Baptism varies from church to church. I can't speak towards any other sect of Christianity, but in the Christain Reformed Church as well as most of the Reformed branch, we believe that Baptism is a symbol of Christs washing away of our sin and is a pledge that the parents as well as the congregation makes to raise a child in the Christain faith. The ritual that would symbolize true salvation and acceptance of Chirst is called Profession of Faith. In the bible there are many refrences to Baptism...
Acts 2:38
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38Peter replied, "Repent and be baptized, every one of you, in the name of Jesus Christ for the forgiveness of your sins. And you will receive the gift of the Holy Spirit.
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Acts 8:12
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But when they believed Philip as he preached the good news of the kingdom of God and the name of Jesus Christ, they were baptized, both men and women.
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This may help as well...
Baptism Link