You'll have to pay a fee at the entrance gate near the beginning of the road based on the number of occupants in your vehicle.
Need to Know
Note: this trail actually gains about 50 feet, rather than losing it.
Access to Chamarel Falls is the same as for the Seven Colored Earths of Chamarel. Access requires paying a fee based on the number of people you have. Parking is clearly marked. From the parking area the lower viewpoint is only a few feet away and doesn't require any elevation change making it accessible to all. It seems like many visitors were only using this viewpoint, but the upper is better.
Run up the paved trail, which includes some stairs, to get the better and less crowded views. You can then return the way you came or take the short spur towards the back of the parking area.