Sep Contribution Limits 2024 For Employees In India. For 2023, contribution amounts can be up to the lesser of 25% of the employee’s compensation for the year or $66,000. The sep ira contribution limit for 2024 is 25% of eligible employee compensation, up to $69,000.
The sep ira has a limit on the annual compensation that is used for figuring retirement plan contributions. Contributions to an employee’s sep ira cannot exceed the lesser of either 25% of their compensation or $66,000 in 2023 and $69,000 in 2024.
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