Just for removing the background the clipping path is the most accurate method. Screen resolution applications tolerate often color and contrast based methods (as already shown) but when there's no good lightness nor color borders, manual clipping path drawing or painting a clipping mask are the next possiblities. Here's, what you can get with clipping path:
(This is a PNG, needed to reduce the pixel dimensions 25% due the size limitations in this site )
Clipping paths are slow to draw, so other ways should be checked at first. Your photo has quite good contrast and color difference at the edge. The quick selection tool finds it easily. Some large writings in the middle must be added to the selection, but that's easy. Only click few times (the quick selection tool is by default in +mode)
Edge refinement is a must. The shadow areas of the edge are without refinement noisy and even on top there's a dark stripe. The screenshot is in edge refinement mode with "no effect" settings:
You must pan with high zoom around the edge and find good settings. Here on the top shrinking the selection a little would be enough, but in the vertical sides and in the bottom also smoothing is needed to avoid crunchy edge like this:
A good compromise unfortunately makes the sharp corners round:
But in your case it's better to accept this selection and make with polygonal lasso tool a new selection to clean the inner corner. Rounded outer corner (no such corners here) can be also fixed by a new selection, but it must be filled by copying or pushing material with smudge brush.
The image isn't perfectly straight. A slight manual rotation fixes it.
The white balance must be fixed. I bet your can wasn't orange. Camera RAW filtering or some "color washing" plugin have grey point picker. They are handy if the color really is otherwise consistent. Here's the result in your case:
It's too grey, there's clear overexposed areas due uneven light and it's generally still slightly colored here and there.
It can be desaturated, but you need a selection which prevents desaturating the red frame of the attention sign. I selected all and made a selection subtraction with polygonal lasso tool.
After desaturating the uneven light is fixed with inserting a curves layer. A layer mask is needed. Painting to it grey (=black, but painted with a low opacity soft brush) on top areas prevents exessive overexposing:
The shadow is useful because there's dark bottom edge. It will become natural if one inserts a shadow.
I inserted a blurred black ellipse. The adjustment layer has "the next layer only" -switch ON to avoid conflict with the shadow.
You may notice that I brought spare layer copies along during all phases. That's only a habit because I often use software which hasn't adjustment layers, layer styles nor smart filters. In Photoshop they make possible non-destructive edits, but I didn't use them exclusively. Having spares is a must in this case.