Search is on to nab the absconding company director and manager of the firm, they said.
The incident took place yesterday when Meen (7) and Yanur (4), children of masons working at the building, were playing on the seventh floor.
The fathers of both children were present on the floor when the incident happened.
"When the children were playing on the seventh floor of the under-construction building, the duo suddenly fell, leading to their instant death on the spot. Meen's father Mansur Ali and Yanur's father Aslam were also working on the seventh floor," a senior police officer had said.
A case has been registered against company's director Saurabh Gupta, construction manager Raghuvir Singh and firm employees Keshav, Amit Verma, Vipin Gupta and Sunil.
Keshav and Amit were arrested today, police said.
The masons hail from West Bengal.
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