て: auxiliary connective
いる: auxiliary verb that implies a continuative action.
This can be applied to 食べ+て+いる: I'm eating.
食べ+ます
ます: a polite expression
This just means "I will eat".
知っ+て+いる
て:auxiliary connective
いる:auxiliary verb that implies present state.
As this shows there is no ambiguity between a "continuative action" and "present state".
パンを食べている clearly means I'm eating bread. I don't think it has any other meanings.
