Results of a CCD study of the variability of the cataclysmic variable BG CMi obtained at the Korean 1.8m telescope in 2002-2005 are presented. The multi-comparison star method had been applied for better accuracy estimates. The linear ephemeris based on 19 mean maxima for 2002--2005 is HJD 2453105.31448(6)+0.01057257716(198)(E-764707). The period differs from that predicted by the quadratic ephemeris by Pych et al. (1996) leading to a possible cycle miscount. The statistically optimal ephemeris is a fourth-order polynomial, as a quadratic or even a cubic ephemeris leads to unaceptably large residuals: Min.HJD=$ 2445020.28095(28)+0.0105729609(57)E -1.58(32)cdot10^{-13}E^2-5.81(64)cdot10^{-19}E^3+4.92(41)cdot10^{-25}E^4.$ Thus the rate of the spin-up of the white dwarf is decreasing. An alternative explanation is that the spin-up has been stopped during recent years. The deviations between the amplutudes of the spin variability in V and R, as well as between phases are not statistically significant. However, the orbital light curves exhibit distinct difference; the corresponding color index shows a nearly sinusoidal shape with a maximum at orbital phase $sim0.2.$ The variations of the amplitude of spin waves shows a short maximum at the phase of the orbital dip. The corrected ephemeris for orbital minima is Min.HJD=$2448368.7225(12)+0fd13474841(6)cdot(E-24849)$ with a narrow dip occuring 0.07P later. The rate of the spin period variation seems to be changed, justifying the necessity of regular observations of intermediate polars.
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