The soul is the immortal divine portion in man. It is like a little seed of the Divine and hence of the same essence as the Divine Himself. But just as the seed contains the whole tree which would grow through several stages, so too the soul manifests its divinity evolving through a number of lives. When it has developed fully and it puts on its unique divine personality then it is known as the psychic being. So we can say that the soul is the essence that develops fully into the psychic being through the course of successive lives.
Affectionately,
Alok Da