Automatic detection and prediction of falls specifically in elderly population who live alone can prevent untoward incidents by taking action at appropriate time. Validating these automated systems requires a labeled dataset. The available datasets are mostly based on inertial features. A health-related concern may also be a reason behind a fall. Considering physiological features along with inertial features can increase the accuracy of the system. In this paper, a labeled multiclass dataset is presented based on physiological and Inertial features of the body (PIF v2). Two trials are performed by each participant. The participants are young as well as elderly performing activities and falls in real-time using the prototype containing various sensors designed for collecting inertial as well as physiological features. Two trials are performed by each participant. 27 subjects (15 males and 12 females) between the age 10 years to 75 years participated in data collection. A detailed comparison between PIF v1 where the data were collected individually using each sensor and PIF v2 is given along with statistical analysis of PIF v2. The statistical analysis of various features with a t-test shows that the different activities and falls can be differentiated using inertial as well as physiological features.