Generally yes, with real caveats that you should take seriously.
The bathing terraces at Main Falls and Five Falls are managed, with lifeguards and police presence during season, and flow is controlled by an alert system. When rain is heavy in the upper catchment, the falls are closed — sometimes for hours, occasionally for days. Those closures exist because flash floods here have killed people, and they are not negotiable.
Our office monitors water levels daily during monsoon dates and we brief you each morning. If the falls are closed, we restructure the day around the temple, the Chitra Sabha and Papanasam rather than waiting at a barrier.
Practical points: the water pressure at Main Falls is genuinely strong, Five Falls is gentler and is where families and older visitors go, and you should not bathe if you cannot swim or have a heart condition.