How do I know whether the psu should not be more than 500W, or it will not cause issues if it is 550W or 600W to the motherboard and other components?
The PSU, if properly sized (as discussed in your other thread), has nothing to do with overclocking.
Also, you do NOT have a E210882 board. You have a DB85FL board. And, since you are a novice at this, it is very premature for you to start asking about overclocking. If you do plan on such a venture, you need to select the proper processor: https://processormatch.intel.com/Processors/CompatibleProcessors?componentName=DB85FL
You should also note that your board is already 7-years old, and only supports 4th gen processors. If you want a faster system, get a newer, faster processor (which requires a new motherboard).