How to use arduino nano to switch an 230V AC motor on/off?
The relay claims to be capable of 10A at 230VAC, and the motor claims to run on 0.75A at 230V.  Should be OK.
Your program logic looks good, and the pins match your schematic.
The timer cycle will only change after the current cycle is finished.  Just to be sure that was your intent.  You can twiddle the switch all you want, but the only setting that counts is the one that is active when the current cycle ends.