The mishap happened when the driver of the low-floor bus tried to pass the vehicle through a small gate of Sanganeri Gate meant for pedestrians and light vehicles.
The bus could not pass through the gate and got stuck, leaving six persons, who were passing from there, trapped between it and the wall, police said.
The victims were rescued by police and other people and rushed to a nearby hospital.
Two of them, Santlal (44) and an unidentified woman, were declared 'dead on arrival'.
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The driver of the bus managed to flee the spot. A search is on for him.
Meanwhile, in another mishap, a 35-year-old cleaner of a truck was killed when an unidentified vehicle hit him on the Ajmer road in the district.
The accident occurred near Bagru area when the driver was changing the tyre of the truck and the victim was standing nearby, police said.
He has been identified as Jabbar Singh.