Hi Karthik,
By default it won't trigger emails on each status and you need to configure it as per requirements.
The concept for triggering remains same so the configuration remains similar. In simple terms instead of SLFN we now have SMIN transaction type
so if in the past it was ZLFN then you can use ZMIN/YMIN etc as per requirement.
further there are lot of notes and documents but you can proceed with configuration and let us know if you struck somewhere.
Sending E-Mail from Support Message
http://scn.sap.com/people/dolores.correa/blog/2007/09/18/sending-e-mail-from-support-message
also
1759791 - E-mail action is not triggered
2147679 - How to Send E-Mail as an attachment from ITSM Incidents in Solution Manager
hope this resolves
thanks
Prakhar