How to delete a specific shape from an image without rasterizing the shape?

Question

I have the following image:

I want to cut the volume slider and acheive the following result:

Actually I made this a month ago. But now when I tried using the same method it is not working. I made two circles with shape tool then combined them and deleted the intersecting smaller circle. Now I have a ring. With this ring I combined a rectangle and then deleted the semicircle opaqued by the rectangle. Now I have semicircular ring shape which I used as a clipping mask over my music player image. Now when I use magic wand to select that semicircular ring -- so I could delete the selected pixels -- I get the following error:

Could not use the magic wand because the target is a fill layer.

The workaround is to rasterize the semicircular ring, but then its curves don't remain smooth.

**Edit: ** As suggested in the answer I tried to invert the mask but remained unsuccessful. Pressing ctrl + i on the masked layer did nothing. Although there is an invert icon in the adjustment panel. After pressing this all the white colors in the photoshop window turned white. The layers snapshot after this is as:

Answer 1

1. Using the Pen Tool draw a path around the slider. Make sure the Pen tool is set to draw a path, not a shape layer or pixels.

   (or use the shape tools, or copy the paths from your existing shape layers. It doesn't really matter as long as you have a path to work with)

   To use your shape to hide the part of the image it covers instead of revealing that part of the image, set your path to Subtract Front Shape in the options bar.

2. With the correct layer selected in the layers panel, select your path, right click and select Create Vector Mask.

3. Your masked image:

You could also do the same thing with a selection and a layer mask, which would be more appropriate if you need varying levels of opacity in your mask.

If you want to destructively apply your mask you can right click the mask in the layers panel and select Rasterize Vector Mask, which will rasterize the mask, then you right click the mask again and select Apply Layer Mask.