The Dutchman was sent off in the aftermath of his side's pulsating 2-2 draw in the final Merseyside derby at Goodison Park on Wednesday.
Slot was among the people handed their marching orders by referee Michael Oliver after tensions flared following Everton's late equaliser.
Liverpool looked on course to extend their lead at the top of the Premier League table after coming from behind thanks to goals from Alexis Mac Allister and Mohamed Salah.
However, James Tarkowski's thunderous 98th-minute strike earned the home side a share of the spoils to dent their rivals' title bid.
The goal was awarded after lengthy VAR checks for a possible foul and an offside and also came after referee Oliver turned a blind eye to Salah being tripped on the edge of the Everton penalty area.
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David Moyes' men duly came down the other end and found a vital equaliser, which left Slot infuriated on the touchline.
After the final whistle, the Reds boss shared a tense exchange and an angry handshake with Oliver, which led to the official brandishing a red card.
The Premier League later had a story on its website on Thursday suggesting that Slot would be consigned to the stands for two games.
Slot's dismissal was said to have been for using 'offensive, insulting, or abusive language' - with his assistant Spike Hulshoff also sent off.
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They said: "Liverpool head coach Arne Slot was dismissed at the end of the Merseyside derby for using offensive, insulting, or abusive language. He is handed a two-match touchline ban as a result."
Despite this, that part of the story on Slot's ban was deleted just an hour later to spark confusion over the 46-year-old's suspension.
It was then confirmed on Friday that Everton, Liverpool, Slot, and his assistant were all charged by the FA.
A statement read: "It is alleged that both clubs failed to ensure their players and/or technical area occupants did not behave in an improper and/or provocative way following the final whistle.
"The Liverpool manager allegedly acted in an improper manner and/or used insulting and/or abusive words and/or behaviour towards both the match referee and an assistant referee after the match had finished.
"It is alleged that Liverpool's assistant manager acted in an improper manner and/or used insulting and/or abusive words and/or behaviour towards a match official, which led to his dismissal.
"It is further alleged that he acted in an improper manner and/or used insulting and/or abusive words and/or behaviour towards a match official after being sent off.
"Everton, Liverpool, Arne Slot and Sipke Hulshoff have until next Wednesday, 19 February, to provide their respective responses."
Despite the charge, Slot, who has already served a touchline ban this season, will still be allowed to be on the touchline today.
He told Sky Sports before kick-off at Anfield: "I hope next time I will act differently than I did. So the next best thing to do is go inside, calm down and talk to the referee if you want to.
"I hope we as a team take all the accidents that happened in the last six, seven or eight minutes into today's game. We take that anger and frustration of what happened there towards this game in a good manner. We are aggressive in a good manner today after what happened in those seven or eight minutes.
"Until now, we have always turned up whether we win or we've - well, we haven't lost that much - but lose or draw.
"In this league, you have to have in every game a reaction. You have to be very aggressive, especially if you face a team like Wolves who are also fighting for something.
"I hope we use the anger and the way we felt in the dressing room in a positive way in this game."
Former Feyenoord gaffer Slot was previously absent for the Carabao Cup quarter-final win over Southampton in December.
He handed the reigns to Hulshoff for the 2-1 win against the Saints after accumulating three yellow cards in the Premier League.
When Slot and Hulshoff are to missa game in the near future due to their midweek red cards, then John Heitinga may be given the nod.
The former Everton defender joined Slot's Liverpool coaching staff last summer and even attracted managerial interest from West Brom.
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The 41-year-old spent the previous season at West Ham as an assistant but left alongside now-Toffees manager Moyes.
Heitinga started his coaching career at boyhood club Ajax in 2017, shortly after retiring with them as a player.
Arne Slot and Liverpool and Everton stars SENT OFF in chaotic scenes after derby