Hey Dear....Ph.D or M.Phil both depends on your carrer you want to pursue and the time you can dedicate for your studies.  Duration of Ph.D is quit longer than M.Phil. If you want to join teaching as your profession then Ph.D is a good option for you.M.Phil is less advance course than Ph.D infact it is called as half Ph.D.In  M.Phil you need more training and less research whereas in Ph.D research areas is wider.M.Phil cource make you ready for PH.D.

If you wish to join in Mental Heath sectors or your area of interest is in assessment,  diagnosis, prevention and treatment of mental illness then M.Phil will be your right choice. There are various  M. Phil courses offered by Rehabilitation Council Of India. Even if you pursue your Private practice then also you need RCI accreditation.