Three Lions duo Steven Caulker and Tom Ince face two and one-match suspensions after the mass clash at the end of the game, with four Serbian players also punished
European football's governing body also handed out bans to players from both sets of teams for the mass confrontation which broke out at the end of game, which centred around alleged abuse of England left back Danny Rose.
England defender Steven Caulker has been banned for two games while midfielder Tom Ince is banned for one game.
The Tottenham man will miss the Three Lions' matches against Italy and Norway on June 5 and June 8 respectively, while Ince will miss only miss the clash with the Italians.
Serbia's Goran Causic has been suspended for four games, along with Ognjen Mudrinski and Filip Malbašić who face three-game bans, while Nikola Ninković is banned for two fixtures. All charges against Aleksandar Pantic, however, have been dropped.
The Serbian FA has been fined 80,000 euros for the numerous incidents which took place at the Mladost Stadium in Krusevac and the Serbian Under-21 national team will also be forced to play their next home match behind closed doors.
UEFA also revealed all disciplinary proceedings made against the English Football Association have been dropped, though they did issue a warning about the improper conduct of the England team.
All the decisions made by UEFA can be appealed within three days.