Salary Limit For Social Security Tax 2024

Salary Limit For Social Security Tax 2024. We raise this amount yearly to keep pace with increases in average wages. Workers earning less than this limit pay a 6.2% tax on their earnings.

Workers earning less than this limit pay a 6.2% tax on their earnings. Incomes ranging from rs 10 lakh to rs 12 lakh incur a tax rate of 15 percent, and for incomes between rs 12 lakh and rs 15 lakh, the tax rate is 20 percent.