The incident happened in the village of Barahbujurg in Niwadi district on Wednesday morning, police official Narendra Tripathi from the Prithvipur police station told CNN.
“The boy, identified as Prahlad, was playing near the well and fell down while his father and the other workers were installing a pipe inside,” Tripathi said.
“The well is filled with water up to 100 feet from the ground but the boy is not underwater,” the official added.
Rescue operations are underway, although progress has been limited since sunset.
Police and medical officials will remain on the scene overnight until rescue efforts continue on Thursday morning.
The head of state, Shivraj Singh Chouhan, tweeted that the army is participating in the rescue.
“I trust Prahlad will be safely rescued,” he tweeted. “Let’s pray to God for him.”