This study explores the magnetic and magnetotransport behavior of polycrystalline ErAl3 compound. The polycrystalline compound adopts HoAl3-type structures with the R-3m space group, No. 166-2 and hR60 configurations. Multiple magnetic orderings and two field induced metamagnetic transitions are observed. ErAl3 exhibits a significant magnetocaloric effect (MCE), ΔSM = 
15.25 J/kg-K and high relative cooling power (RCP) of 383 J/ kg with applied magnetic field change (ΔH) of 70 kOe near the paramagnetic to ferromagnetic transition, showcasing its potential for magnetic refrigeration technology. The compound also demonstrates metallic behavior, with a notable magnetoresistance of 48.5 % at 2 K due to the suppression of antiferromagnetism. The
magnetic phase diagram reveals four distinct phases influenced by temperature and magnetic field, identified through the study of the magnetocaloric effect.