FM ( Frequency Modulation ) : Frequency modulation is the encoding of information in a carrier wave by varying the instantaneous frequency of the wave. The technology is used in telecommunications, radio broadcasting, signal processing, and computing.
PM ( Phase Modulation) : Phase modulation is a modulation pattern for conditioning communication signals for transmission. It encodes a message signal as variations in the instantaneous phase of a carrier wave. Phase modulation is one of the two principal forms of angle modulation, together with frequency modulation.