First ministers from Scotland, Northern Ireland and Wales have written to the Prime Minister calling on him not to hold the EU vote in June, as he is expected to do, because it will clash with the May local elections and confuse the public.
The publication of the draft proposal of EU's new deal with the UK on Tuesday was broadly viewed as paving the way for a referendum on 23 June.
It comes as a senior Conservative warned that up to five members of the campaign are ready for Brexit.
Mr Cameron claimed the measures he has negotiated delivered "substantial change" but he is facing significant criticism that he has not met his Conservative Manifesto pledges and even that the migrant welfare changes are "unworkable".
Senior Conservative Liam Fox has claimed that up to five members of the Cabinet are ready to campaign for Brexit.
Boris Johnson, who is expected to be a key figure in the run up to the referendum, said the deal was not good enough.
He said: "I think the Prime Minister is making the best of a bad job ... most people looking at this will think there is a lot more to do."
The proposed deal will see an "emergency brake" on EU migrants receiving in-work benefits - but it is far short of the four-year ban on in-work payouts the Prime Minister had promised.
In addition, the brake will not be in place until 18 months after a referendum and EU workers in the UK will get "graduated" in-work benefits.
Child benefit will continue to be paid to EU migrants working in the UK who have children living in Europe - but it will be linked to the standard of living in that country. Mr Cameron said the practise would stop entirely.
There are concerns at the Department of Work and Pensions over whether there is a system that can cope with 28 levels of child benefit and administer graded tax credit payments.
Senior Government officials have even suggested it may not be something that can even be delivered.
Mr Cameron is also under pressure to allow Cabinet members who want to campaign for Brexit to start speaking out against membership of the EU now.
The Prime Minister has said they are not permitted to take sides until after the 18-19 February summit where EU leaders will finalise the terms of the deal.
Mr Cameron received a major boost when Theresa May - who those from the 'leave' campaign were hoping would back their drive - appeared to signal her support for the "stay" campaign.
However, Dr Fox, a staunch eurosceptic who has been sharply critical of the proposals, told the Radio 4 Today programme: "I think there will be a number of Cabinet ministers with a range of different responsibilities who will want to be in the Leave camp."
He added: "I don't know exactly how many, but I can think of four or five for certain."
There was also some disquiet in the City over the "emergency brake" system that will allow Britain to "raise concerns" over legislation tailored for the eurozone, which does not amount to the veto many had hoped for.
Mr Cameron will also begin his campaign to win over European leaders, especially those in eastern Europe who have been opposed to the benefit changes.
The Prime Minister has admitted there is more work to be done on the detail of the eventual deal and European Council President Donald Tusk said it was a "good basis for a compromise".
Mr Cameron is said to be anxious to have the vote in June to avoid bad headlines when the number of migrants crossing into Europe increases because of the warmer weather.
The letter from Nicola Sturgeon, Arlene Foster, Martin McGuinness and Carwyn Jones said: "We believe that holding a referendum as early as June will mean that a significant part of the referendum campaign will necessarily run in parallel with those elections and risks confusing issues at a moment when clarity is required.
"Furthermore, it will be virtually impossible for the political parties in our respective territories to plan effectively for, and where appropriate work together on, the referendum campaign while our own elections are in progress."
European Commission President Jean-Claude Juncker said the blueprint was a "fair" deal for Britain - and for other countries and would address immigration concerns.
He said: "The settlement recognises this. It recognises that if the United Kingdom considered that it is now at the limits of its level of integration then that is fine. At the same time, it makes clear that other member states can move towards a deeper degree of integration as they see fit."
Foreign Secretary Philip Hammond said the Government was not expecting a "significant negative reaction" to the plan which Downing Street says has allowed Mr Cameron to fulfil several manifesto commitments.
The deal includes an emergency brake proposal which would allow countries to stop paying in-work benefits if public services are being overwhelmed by economic migration.
It also offers protections for non-eurozone states and a legally binding assurance that the UK is not expected to take part in "ever closer union" in the bloc.
Barack Obama spoke with Mr Cameron on the telephone on Tuesday night and reiterated his "support for a strong United Kingdom in a strong European Union".
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