1) Channel Switch
The switch under the top cover is for changing between 8 channels which would allow a better signal on your phone and headset. There are no dedicated phone channels. It would be something that you would have to play around with and select the best for your device(s)
2) Mute Button
The circular button at the top would be the mute/unmute button. When in the raised position, your phone will be unmuted. When in the lowered position, your voice would be muted.
3) Volume Control
The Volume control rocker is located on the side opposite of the mute button. This will allow you to lower and raise your voice via the headset when on calls.