What was the significance of the bells?
Ramban #1: It is the Kohen Gadol's way of knocking before entering Hashem's domain, and of receiving permission to leave. 1
Ramban #2 (citing the Yerushalmi in Yoma, 1:5) and Rashbam: So that, when the Kohen entered the Kodesh, they would ring 2 and anybody who happened to be present (even angels), would leave, 3 and also when he left. 4
Erchin, 16a: The Me'il atones for Lashon ha'Ra that is spoken publicly. Consequently, 'Let something that makes a noise atone for a (sinful) noise!' 5
Since someone who enters the king's palace unannounced is Chayav Misah, like we find by Achashverosh. See Esther, 4:11 Ramban). See also Rav Chavel's footnotes - as to why this applies the whole year round, and is confined to the Heichal, but not to the Kodesh Kodashim. Refer also to 28:35:2:2.
See Vayikra 16:17 (Ramban and Rashbam).
In order not to intrude on the Kohen Gadol's private audience with Hashem.
So that whoever had left was now permitted to return (Ramban).
What are the implications of the (oherwise superfluous) word " Vehayah al Aharon Leshareis"?
Oznayim la'Torah: To teach us that the Kohen Gadol is only permitted (obligated) to wear the Me'il when he comes to the Beis-Hamikdash to serve Hashem, but not when he walks in the street - to announce his arrival to the people to pay him homage.
What can we extrapolate from the words "ve'Lo Yamus"?
Rashi: It implies that, if the Kohen Gadol enters to do the Avodah minus one of the eight Begadim, he is Chayav Misah. 1
Ramban: It implies that, if the Kohen Gadol enters the Heichal unannounced (without the bells ringing 2 ), the angels might kill him. 3
Moshav Zekenim (al Derech Derush): The Pasuk teaches us that one who gives Tzedakah covertly, will not go to Gehinom when he leaves the world.
Targum Yonasan: It teaches us that, if the Kohen Gadol enters the Heichal unannounced (without the bells ringing) he is Chayav Misah (by a burning fire). 4
This is strange, since the Pasuk is not talking about the Bigdei Kehunah, but about the bells on the Me'il - See Ramban, who also raises other objections to this explanation..
Even if he is wearing the Me'il, but enters in such a way that they do not ring - if for example, he walks a millimeter at a time, or glues the clappers to the bells ... (PF)
Refer to 28:35:1:1*.
Bi'Yedei Shamayim (Sanhedrin, 83b).
Which kind of Misah did the Kohen Gadol receive?
Refer to 28:35:2:2 & 4 and note..
Why was the Kohen Gadol able to enter the Kodesh Kodashim on Yom Kipur without fear, wearing the white Begadim?
Oznayim la'Torah: Because then he entered under the protection of the Shechinah,
Why was a Kohen Hedyot, who did not wear a Me'il with bells, not afraid that an angel would kill him when he entered the Heichal to burn the Ketores?
Oznayim la'Torah: Because he was not on the level of the Kohen Gadol, and the angels were therefore not jealous of him.
QUESTIONS ON RASHI
Rashi writes that if the Kohen Gadol enters missing one of these Begadim, he is Chayav Misah. But we already know this, since a Kohen without the Bigdei kehunah is considered a Zar, and a Zar who served is Chayav Misah? And he is liable also for leaving quietly. This is not Avodah! And why did the Torah write this in the middle of the description of the Begadim?
Refer to 28:35:2:2.
Moshav Zekenim (in 29:9): Perhaps only a Kohen who enters without the four Begadim is considered a Zar, but not a Kohen Gadol who wear the four Begadim, but not his eight Begadim of a Kohen Gadol - which the current Pasuk is discussing.