The incident took place early morning at 8 am, when the bus was on its way to Saraswati School in Goluwala from Surawali with about 40 children, police said.
Out of ten childrens, seven died on the spot and three succumbed to injury in a hospital.
The deceased were identified as Gagandeep, Amit, Sarita, Ayush, Amit, Sahil, Rajesh, Nakul, Manju and Lokesh, aged between 9 and 16 years, police said.
The bus driver is absconding.
(with agency inputs)