The victims were on their way to Indore from Ranapur in Jhabua district for appearing in an entrance examination when the mishap occurred between Mangod and Bhalgaodi village in the district, police said.
The deceased were identified as Vinita Machar, Ramesh Gohil, Rakesh Solanki, Nilesh Parmar and Irshad (jeep driver), police said, adding all of them were aged around 20-25 years.
The four seriously injured were referred to Indore while the others hurt in the accident were admitted to Dhar district hospital, police added.