Any number of forward slashes will work (this is an OS thing). So the both the following will work:
setwd("C:/Users/RAMIT PAUL/Downloads/Rate Cat")
setwd("C://////////Users///////////RAMIT PAUL///////////Downloads///////////Rate Cat")
Now, backslashes are imbued with special meaning. They are used for escape sequences. So you have to escape the slash itself so it's correctly parsed. Hence, this won't work:
setwd("C:\Users\RAMIT PAUL\Downloads\Rate Cat")
While these work:
setwd("C:\\Users\\RAMIT PAUL\\Downloads\\Rate Cat")
setwd("C:\\\\\\\\\\\\\\\\\\\\\\Users\\RAMIT PAUL\\Downloads\\Rate Cat")
In R 4.0.0 you can actually use (thanks Mossa):
setwd(r"(C:\Users\RAMIT PAUL\Downloads\Rate Cat)")