Max Taxable Social Security Wages 2024 In India. Of course, both employers and employees pay the 6.2% social security tax rate, which means there could be a max payment next year of: Half of your social security benefits:

For 2024, the fica tax rate for employers will be 7.65% — 6.2% for social security and 1.45% for medicare (the same as in 2023). You aren’t required to pay this tax on any income beyond the social security wage base limit.