Social Security Tax Limit 2024 Pdf . More than rs 15 lakhs. For higher incomes, the reduction still applies, but the wage base limit is subject to annual adjustments.
The new tax rate reduction is effective from january 1, 2024, and will apply to all eligible earnings throughout the year. This explainer was updated in july 2024.
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2024 Social Security Tax Limit Capital Gains Tax Alyssa Annelise , To fund social security, employers and employees each pay a payroll tax of 6.2% (for a combined 12.4%) of an employeeโs annual earnings up to a certain level, known as the taxable maximum.
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