The pair were alleged to have attended a house party in the west end of Glasgow last month and were immediately suspended by the Ibrox club pending an internal investigation.
The Scottish Football Association also cited the pair on two disciplinary charges and have imposed the seven-game sanction for the breaches.
Both will now sit out of action until at least December 30 when Rangers travel to St Mirren and will miss six SPFL Premiership games, plus next Sunday’s Betfred Cup trip to League One Falkirk.
Jones last played on October 25 against Livingston while Edmundson has not featured since a 15-minute substitute appearance in a 5-1 win at Motherwell in September, a match where Jones started and scored.
Both sat out the 1-0 win over Kilmarnock on October 30 and were suspended by Rangers the following morning, hours after the incident came to light.
Their hearing alleged they had broken SFA rule 77 which states players and club officials should ‘at all times, act in the best interests of Association Football’ and ‘such person or body shall not act in any manner which is improper’.
They were also cited on rule 24 which states players ‘shall comply with the Articles, the Laws of the Game and the rules, procedures and regulations, bye-laws and Decisions of the Scottish FA.’
Both had to immediately enter a two-week quarantine and missed the 8-0 win over Hamilton while Jones also sat out last week’s Northern Ireland’s Euro 2020 play-off with Slovakia as a result.