If they break the law of the company, then it comes under the Misconduct.
So first you have to give the warning letter to the employees, which should be talked about that if you make this mistake again in the future, then they will be taken particular amount from their salary. And This Should Be Accept By Employee via mail or physical letter
Hr Executive (Production)
Under The Payment of Wages Act, 1936
Section 8. Fines.- (1) No fine shall be imposed on any employed person save in respect of such acts and omissions on his part as the employer with the previous approval of 1[the appropriate Government] or of the prescribed authority, may have specified by notice under sub-section (2). (2) A notice specifying such acts and omissions shall be exhibited in the prescribed manner on the premises in which the employment is carried on or in the case of persons employed upon a railway (otherwise than in a factory), at the prescribed place or places.
I think that your establishment as well as the two employees would be coming under the purview of the Payment of Wages Act,1936(even the proposed Labor Code,2019 seems to have removed the salary ceiling for applicability). Section 8 of the PW Act,1936 imposes certain restrictions on imposition of fines on employees including prior approval from the Authority under the Act, giving of reasonable opportunity to the employee, the maximum quantum of the fine amount as a fixed percentage to the earnings in the wage period and the like. Viewed from this angle, the implementation of the orders from above would be certainly arbitrary. Therefore, I would suggest to you to bring this legal position politely to your top brass and act cautiously in the matter.