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I need to remove white background from this logo, but whatever I have tried, doesn't seem to work correctly. For example, when I try to use the magic eraser tool, it also erases some of the text.
Use a Pen tool tat would be easier or else decrease the tolerance value in magic wand tool and try it you would get it perfectly. Check the below image i have tried with magic wand
Since the logo color is contrast to the background, use Quick selection tool to select the pink logo. Now go to Select -> Inverse Selection. Press Delete. This makes the work much easier.
You can duplicate the layer and remove the background by using pen tool.