Yes, it almost has no side effects and the safety has been approved by the U.S. Food and Drug Administration (FDA) and European Food Safety Authority (EFSA), as well as the Joint FAO/WHO Expert Committee on Food Additives (JECFA).  

FDA
Sodium metabisulfite is generally recognized as safe (GRAS) when used as a preservative except in meats, foods recognized as a source of vitamin B1 and fresh fruits or vegetables. (2)

EFSA
Sodium metabisulfite (E223) is listed in Commission Regulation (EU) No 231/2012 as an authorised food additive and categorized in “ additives other than colours and sweeteners” (3).

Safety re-evaluation in 2016

EFSA concluded that the current group ADI of 0.7 mg expressed as SO2 equivalent/kg bw per day for E220-E228 was temporary and would be re-evaluated due to the uncertainties and limitations in the database (4)

Approved uses
Its application is listed together with sulfur dioxide (E220), sodium sulfite (E221), sodium bisulfite (E222), potassium metabisulfite (E 224), calcium sulfite (E226), calcium bisulfite (E227) and potassium bisulfite (E228) and with the maximum use levels “10-2000 mg/kg”.

The following food may contain it (5):

Fresh, Peeled, cut and shredded, Frozen, Dried fruit and vegetables: such as table grapes, peeled potatoes, frozen and deep-frozen potatoes, dried coconut, dried mushrooms, dried ginger, dried tomatoes, dried apples, pears and bananas
Jams, jellies and mermelades
Dry biscuits
Beer and malt beverages
Cider and perry
Fruit wine and made wine
UK Food Standards Agency
Categorized in “Preservatives” (6)

Food Standards Australia New Zealand
It is an approved ingredient in Australia and New Zealand with the code number 223. (7)

JECFA
Function Class: food additives, antioxidant, flour treatment agent, preservative. (8)

Acceptable daily intake: ADI “0-0.7 mg/kg bw” set in 1998. (9)

http://www.chinafooding.com/Sodium_Metabisulfite