Due to the virtualization technology, it is not possible to change the actual time of the server. Our host server is synchronized with time servers so the time will always be accurate.
However, you can change the timezone by following these steps:
1) mv /etc/localtime /etc/localtime-old
2) ln -sf /usr/share/zoneinfo/America/New_York /etc/localtime
Select the zone that matches your area. To get the new time, you may need to logout and log back in and possibly reboot your VPS so your applications get the new timezone.