Officers were called to a rented property in the village on Saturday, where they discovered a 48-seater bus and several cars parked outside.
A 46-year-old man was charged with a breach of coronavirus regulations and issued with a Fixed Penalty Notice (FPN), while the alleged organiser of the party, a 33-year-old man, was charged with culpable and reckless conduct.
The latter is expected to appear at Falkirk Sheriff Court on Friday, November 27.
Police also issued the driver of the bus with an FPN.
Enquiries to establish if any further offences took place are under way.
The news comes as Police Scotland confirmed officers dealt with more than 300 house gatherings over the weekend, the vast majority of which were small groups of people in houses.
More than 300 FPNs were issued and 24 people were arrested between Friday, October 30 and Sunday, November 1.
The majority of FPNs issued were to small groups from different households meeting in homes, in clear breach of the regulations in place to tackle the spread of Covid-19.
More than 3000 calls relating to nuisance, noise and disturbance were made to Police Scotland.
Assistant Chief Constable Alan Speirs said: “Officers dealt with a significant number of calls to house gatherings over the weekend and we have been quite clear that we will enforce the law where necessary, as the public would expect us to do.
“We are not just talking about large parties. The vast majority were smaller groups of different households meeting indoors.
“House gatherings of any size cause the virus to spread and we are asking people to do the right thing and take personal responsibility.
“I fully understand the implications the current restrictions have on our daily lives, but we cannot have people twisting the rules and disregarding the law which is there to stop the spread of coronavirus and help save lives.
“Anyone clearly breaking the law should be in no doubt that they will be met with a robust response from Police Scotland.”