pwd stands for Print Working Directory. It prints the path of the working directory, starting from the root.
pwd is shell built-in command(pwd) or an actual binary(/bin/pwd).
$PWD is an environment variable which stores the path of the current directory.
This command has two flags.
pwd -L: Prints the symbolic path.
pwd -P: Prints the actual path.
A)Built-in pwd (pwd):
In the given example the directory /home/shital/logs/ is a symbolic link for a target directory /var/logs/
B)Binary pwd (/bin/pwd):
The default behavior of Built-in pwd is same as pwd -L.
And the default behavior of /bin/pwd is same as pwd -P.
The $PWD variable value is same as pwd -L.