Hello @Sajid Ali Shah ,
Welcome to the MS Q&A forum.
In additional to the guide "Deploy information protection for data privacy regulations with Microsoft 365" which David share above, there are other resources and information for you to review:
- Triaging: Implement Information Protection in Microsoft 365
- There is not much difference between E3 and E5 when it comes to AIP, however E5 includes with more features. You can find more information by following this link => Microsoft 365 guidance for security & compliance - Service Descriptions
- There is the comparison of O365, AIP Plan 1 and AIP Plan 2. The Microsoft O365 E3 and E5 has both O365 features, however E3 includes only AIP Plan 1 and E5 includes both AIP Plan 1 and 2.
Hope above answers your questions and concerns.
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Olga Os