We investigate thermal and non-thermal radio continuum associated with the early formation and evolution of Young Stellar Clusters (YSCs) selected by their MIR emission in M33. For the first time in an external galaxy it has been possible to identify radio counterparts to more than 300 star forming regions. We proof the nature of candidate YSCs fully embedded in molecular clouds, by recovering their associated faint radio continuum luminosities. Using the Halpha line to identify free-free radio emission at 5 GHz in the more evolved, partially exposed YSCs, we retrieve information on the relevance of magnetic fields and cosmic rays across the M33 disk at 25 pc spatial scales. A cross-correlation of MIR and radio continuum luminosities is established from bright to very faint YSCs, with MIR-to-radio emission ratio showing a gradual decline towards the outer disk, while the magnetic field is pervasive at all radii. We establish and discuss the tight relation between radio continuum and other star formation indicators, such as Halpha. This relation holds for individual YSCs over four orders of magnitude as well as for molecular clouds hosting YSCs. On average about half of radio emission at 5 GHz in YSCs is non-thermal. For exposed but compact YSCs the non-thermal radio fraction increases with source brightness, while for large HII regions the fraction is lower and shows no clear trend. This has been found for YSCs with and without identified SNRs and underlines the possible role of massive stars in triggering particle acceleration through winds and shocks: these particles diffuse throughout the native molecular cloud prior to cloud dispersal.