ErFe0.55Mn0.45O3 single crystal shows canted antiferromagnetic ordering below 365 K with weak ferromagnetic moment along c axis. On cooling, the magnetic moment is completely suppressed at a certain temperature due to Er and Fe/Mn sublattice compensation, below which negative magnetization is observed. The compensation and negative magnetization temperatures are much higher than those in other orthoferrite systems. There is a spin reorientation transition from Γ4(Gx,Ay,Fz) to Γ1(Ax,Gy,Cz) structure at 255 K along c axis which is not seen along a and b axes. The spin reorientation is tunable with applied magnetic field and is completely suppressed at sufficiently high magnetic field. The behavior is explained by spin configuration and net magnetization orientation of individual Er and Fe/Mn sublattices. The proposed model is further validated by measurements using ’training’ protocol.