FIFA has announced that the West London outfit have to pay additional sign of 600,000 Swiss francs, while the Football Association has been fined 510,000 Swiss francs.
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The world football governing body took the decision after conducting investigation into the conduct of Chelsea in relating to the signing of foreign players who are under the age of 18, including their former striker Bertrand Traore.
Chelsea, however, have the chance to appeal against the case.
Mediapart alleged that 14 of those signings were under the age of 18.
Chelsea have been banned from signing new players in the next two transfer windows for breaching rules in relation to the international transfer and registration of players under the age of 18, Fifa has announced.