If I make a new account on our computer (Windows), can I set parental controls for just that account?

I’m not sure what that is called exactly.. when you first start up the computer and the Windows screen comes up to log into an account. We only have two, the administrator’s account (mine & husband’s) and “guest.”
If I add another one for the kids’ to use, can I set parental controls for the web browsers and whatnot that will only apply to their account?
If so, how do I do that?