High-resolution spectra of oriented ErFe3(BO3)4 single crystals are registered in the spectral range 500 – 8000 cm-1 at various temperatures (4 – 470 K). The temperature behaviour of the phonon mode at 976 cm-1 allowed us to register a structural phase transition at TS=431 K. The energies of crystal-field levels of the ground 4I15/2 and the first excited 4I13/2 multiplets of the Er3+ ion are determined in the paramagnetic state of ErFe3(BO3)4. The exchange splitting of the ground Kramers doublet in the magnetically ordered state was found to be Δ0=6.3±1 cm-1. The interference occurring due to birefringence in the single crystals was also registered. The temperature dependence of the position of the maximum of the interference band demonstrates two anomalies, at TN and TS, associated with the phase transitions in ErFe3(BO3)4.