You can invoke restricted bash (or rbash), to keep the user from cd'ing.
Never had much luck with chroot... Only as a way to restrict FTP users, but not as an ssh login.
Slackware doesn't come with rbash by default, so you'll have to go to /etc/bin and 'cp bash rbash'. You can then edit the /etc/passwd to have rbash instead of bash.
However, if you want to restrict to the home directory, while retaining cd (change dir) access, I don't know of an easy way to do this. Perhaps somebody has a better method...