An improved ephemeris and physical elements of ER Vul

New photoelectric and $BV\!RI$ observations, secured during August-November of 2002 at two observatories distant in local time are analyzed together with two earlier photometric data sets and all available radial velocities to derive the most accurate ephemeris of the binary and to set limits on its basic physical elements. These observations were obtained as a support for a high-dispersion spectroscopic study, results of which will be published separately. It was found that radial velocities and photometric observations spanning 53 years can be reconciled with the linear ephemeris $T_{\rm prim.min.}={\rm HJD}\,2\,440\,182.25628(46)\!+\!0\,\fd698095113(29)\times E$, where the rms errors of the last digits are given in brackets. Masses of the stars are 1.02 $M_{\odot}$ and 0.97 $M_{\odot}$ and the binary separation is 4.170 $R_{\odot}$. There is still a large uncertainty in the stellar radii. We also report the discovery of rapid light variations on a time scale of hours seen in the U band light curve and offer a few thoughts on the future investigation of this binary.