Sep Ira Contribution Limits 2024 In India. Employers can contribute the lesser of 25% of the employee's annual compensation or $69,000 toward a sep ira in 2024 ($66,000 in 2023). The sep ira contribution limit is directly tied to an individual’s income, permitting contributions of up to 25% of each employee’s compensation or a specified cap, whichever is less.
Set up a separate sep ira account for each eligible employee. Your contribution can’t exceed $66,000 in 2023, or $69,000 in 2024.