If I delete email alert, will it effect my form functionality?

If I remove the function for an email notification to be sent every time someone fills a form, will it effect my collection in any way? 

No it is not necessary to receive notification email and if you delete email alerts from your form, it will not effect on your form function in any way. 

You may like to take a look at the following guide on how to delete email alerts:  https://www.jotform.com/help/132-How-to-Delete-Notifications-Autoresponder