Corsair VS series is a low quality Tier four PSU.
Tier Four
Built down to a low price. Not exactly the most stable units ever created. Very basic safety circuitry or even thin gauge wiring used. Not for gaming rigs or overclocking systems of any kind. Avoid unless your budget dictates your choice.
PSU Tier list:
http://www.tomshardware.co.uk/forum/id-2547993/psu-tier-list.html
The reason for the fan noise your your PSU is due to the sleeve bearing fan used inside the PSU. And i take that the PSU is mounted in a such way that the fan is in horizontal position.
Here's further reading about sleeve bearing fans and why it's not good to use them, especially when mounted in horizontal position,
link:
http://www.gamersnexus.net/guides/779-computer-case-fan-bearing-differences
As far as PC not going to the sleep, reason behind is also your PSU that can't deliver low enough power to the PC to maintain the sleep mode.
That being said, i suggest you replace your PSU to fix your two issues: fan noise and no sleep mode.
Here i suggest either Seasonic G-360 or Seasonic S12II-350. Both are good quality Tier two PSUs.
Difference between the three:
Corsair VS350
Efficiency: 80+
Fan bearing: Sleeve bearing
Modularity: Fully wired
MTBF: 100.000 hours
Warranty: 3 years
specs:
http://www.corsair.com/en/vs-seriestm-vs350-350-watt-power-supply
Seasonic S12II-350
Efficiency: 80+ Bronze
Fan bearing: Fluid dynamic bearing
Modularity: Fully wired
MTBF: 150.000 hours
Warranty: 5 years
specs: https://seasonic.com/product/s12ii-350/
Seasonic G-360
Efficiency: 80+ Gold
Fan bearing: Double ball bearing
Modularity: Semi-modular
MTBF: 150.000 hours
Warranty: 5 years
specs: https://seasonic.com/product/g-360/
S12II-350 pcpp:
http://pcpartpicker.com/product/bQzZxr/seasonic-power-supply-ssr350st
G-360 pcpp:
http://pcpartpicker.com/product/dTK7YJ/seasonic-power-supply-ssr360gp
If you don't mind the extra leftover cables in your PC, go with S12II-350. But if you like to have better cable management, go for G-360.
All my 3 PCs: Skylake, Haswell and AMD are powered by Seasonic (specs in my sig). Got PRIME series in Skylake, M12II EVO series in Haswell and S12II series in AMD.
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