Measurements of electric dipole moment (EDM) for light hadrons with use of a storage ring have been proposed. The expected effect is very small, therefore various subtle effects need to be considered. In particular, interaction of particle’s magnetic dipole moment and electric quadrupole moment with electromagnetic field gradients can produce an effect of a similar order of magnitude as that expected for EDM. This paper describes a very promising method employing an rf Wien filter, allowing to disentangle that contribution from the genuine EDM effect. It is shown that both these effects could be separated by the proper setting of the rf Wien filter frequency and phase. In the EDM measurement the magnitude of systematic uncertainties plays a key role and they should be under strict control. It is shown that particles’ interaction with field gradients offers also the possibility to estimate global systematic uncertainties with the precision necessary for an EDM measurement with the planned accuracy.