It is Unorthodox (Heterodox) Schools of Indian Philosophy.
Charvaka school, also called Lokayata Philosophy, is a philosophical Indian school of materialists who rejected the notion of an afterworld, karma, liberation (moksha), the authority of the sacred scriptures, the Vedas, and the immortality of the self.
According to Charvaka there is no other world. Hence, death is the end of humans & pleasure is the ultimate object in life.
It is also known as the Lokayata Philosophy-the philosophy of masses.
Brihaspati laid the groundwork for this school, which was supposed to be one of the first to develop a philosophical theory.
The Charvaka School was a major proponent of the materialistic approach to salvation.
Because it was aimed at the common people, the philosophy was quickly dubbed Lokayata, or something derived from the common people.
Later texts refer to two Charvaka schools—Dhurtta and Sushikshita, but details are lacking.
The former apparently held that only the four element —earth, water, air, and fire—existed.
They understood the body as composed of a combination of atoms and rejected the idea of a soul.
Sushikshita Charvaka, on the other hand, accepted the idea of a soul that was distinct from the body.
However, this soul was not eternal—it was destroyed when the body was destroyed. Hence, statements 1 and 3 are correct.